Financial crisis
Draghi defends ECB policy
ECB president welcomes debate but insists crisis-fighting policies saved eurozone
Brainard attacks Fed plan to soften regulations
Governor warns regulatory cutbacks risk weakening “core safeguards” put in place post-2008
BoE FPC: Markets may ‘jump to illiquidity’ if stressed
Debt and “structural illiquidity” could amplify global shocks, warns committee
Big tech: a threat to banks?
The explosive growth of big tech companies in China offers important lessons
‘Wrong’ to say Fed is out of policy space, Bernanke argues
Former chair estimates unconventional policy adds 3% to Fed’s room for manoeuvre
Protracted low rates demand solid macro-prudential frameworks – Claudia Buch
Bundesbank vice-president says nature of monetary union demands strict surveillance
Bank of Korea warns of worsening financial stability as exports fall
More rate cuts expected as South Korean exports fall for 10 consecutive months
UK watchdog unveils curbs on illiquid funds
Some open-ended funds will now have to make contingencies for stressed market conditions
30 years of central banking
Central banks face credibility tests on a number of fronts
Book notes: Narrative economics, by Robert Shiller
The book is good fun to read, but some elements are a little disappointing
Norges Bank lays out plans for collateral management during resolution
Liquidity assistance in a resolution will “never” be a long-term solution, Torbjørn Hægeland says
Macro-pru is no panacea
Many central banks need better macro-pru frameworks
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent
Uribe details aggressive Flar expansion plans
Latam fund chief José Darío Uribe on: Flar’s efforts to support regional financial stability; exposure to Venezuela; and more
Market competition fuels volatility in frail regulatory environments – Bank of Spain research
Increased instability associated with higher default rate triggers a 3.3% loss of output
Economists publish ‘crash course’ on euro crisis
Framework is designed to help students grasp the macro-financial roots of recent crises
Agustín Carstens on fixing the global monetary system
The BIS chief speaks on the global safety net, emerging markets’ vulnerabilities and fintech challenges
Central banks face loss of independence – Central Banking survey
Cyber risks and lax supervision are biggest threats to financial stability
Overcoming deflation: Japan’s experience and challenges ahead
Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for others
Fischer and Hildebrand call for emergency policy tools
Former central bank chiefs say existing monetary tools are “almost exhausted”
The Fed’s trade policy dilemma
FOMC should loosen, but members must speak out more forcefully against tariffs
Market-based metrics are best signal for bank distress – IMF paper
Researcher finds vulnerabilities in large eurozone banks, while North America is least distressed region
IMF has no back-up plan to Fed swap lines
Financial counsellor says no plans in the works for emergency dollar funding backstop
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor