Financial crisis
Canada’s Poloz on monetary policy limits, transparency and cyber recovery
Bank of Canada governor Stephen Poloz speaks about stagflation risks from trade wars, the importance of market signals, Canada’s CBDC plans and why he is not a fan of minutes
The challenges facing Christine Lagarde
The new ECB president will need to focus on a successful review of the ECB’s monetary and communications policy, while encouraging fiscal stimulus and structural reform
Book notes: The Bank of England and the government debt, by William Allen
Required reading for Treasury, Debt Management Office and Bank of England staff
Was Draghi one of the great central bankers?
A look back at how Mario Draghi confronted the financial crisis and existential concerns about the euro
ECB paper sets out stress tests for investment funds
Depletion in assets under management could reach 24% for equity funds and 5% for bond funds
Norway’s SWF chief to step down after 12 years
Yngve Slyngstad presided over international diversification and the adoption of real estate, while total assets multiplied by four
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics
Cross-border claims growing at fastest rate since crisis – BIS
Non-banks continue to see the fastest growth, latest international banking data shows
King calls for radical shake-up to escape ‘low-growth trap’
Central bank models fail to appreciate demand-side secular stagnation; IMF could help to drive country-specific policies to reallocate resources
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says
FSB calls out ‘uneven’ regulation as vulnerabilities evolve
Board cautions against complacency; Basel Committee says members are still missing deadlines
IMF warns of ‘synchronised slowdown’ as it cuts forecasts
Fund revises down growth prospects for 2019–20 and calls for action on financial vulnerabilities
DNB paper looks at how regulation affects systemic risk
Restrictions on entry increased systemic risk before financial crisis, researchers say
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 financial services offered by 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