Liquidity
New York Fed expands year-end repo operations
More cash to be made available both overnight and in term repos
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
Banks’ repo muscles may have ‘atrophied’ – Borio
BIS report highlights impact on market functioning from Fed and ECB easing action
Signs of US banks’ year-end funding concerns continue
New York Fed’s second 42-day term operation oversubscribed by $18 billion
Fed’s supervision may have added to repo turmoil, Quarles says
Fed will re-examine effects of supervisory approach, vice-chair tells US lawmakers
US banks show signs of year-end funding concerns
Banks demanded nearly twice the amount of cash on offer in NY Fed’s new term repo
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets
Bank of Canada plans new emergency liquidity facility
Facility designed in response to new threats, such as cyber and extreme weather events
FOMC considering repo market tools, minutes show
Meeting participants worried that standing repo tool might create moral hazard
US market liquidity deteriorated in 2019, Fed warns
Frequency of equity market flash events has increased significantly since 2018
European pension fund liquidity may need to rise – Danish central bank
Central clearing exemption to expire in 2023 under market infrastructure regulation
The challenges facing Christine Lagarde
New ECB chief needs to lead a successful review of the ECB’s monetary and communications policy
NY Fed unveils new measures to tackle year-end funding pressures
Fed is expecting a “sharp increase” in flows out of reserves during December, statement says
FSB warns gaps remain in resolution frameworks
Issues remain for central counterparties, global banks and insurers, report finds
De Guindos says ECB ‘implicitly has symmetrical targeting policy’
ECB vice-president backs Macron plan for common eurozone fiscal policy
Italian banks exploit ECB tiering to sharply boost local deposits
Rush to exploit arbitrage opportunity is “interesting showcase” of fragmented markets, says Benoît Cœuré
ECB’s Löber: Facebook’s libra a “black hole” of legal certainty
But current global standards fit for purpose to underpin digital assets
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
Fed stands ready to ease year-end funding squeeze, says Logan
New York Fed prepared to adjust recent market operations, says markets chief
Both short and long-term banking liquidity ratios needed – ECB paper
Net stable funding ratio has not been introduced in all jurisdictions, researchers say
Fed considering tools to help flow of reserves in the system
Remarks are some of the most detailed Jerome Powell has made on financial plumbing issues
Global credit to non-banks growing faster in Q2 – BIS figures
Latest global liquidity figures show rapid growth in lending to the non-bank sector
Fed researchers aim to address uncertainty over demand for reserves
Demand for reserves could be between $712 billion and $919 billion, researchers find
Fed expands daily repo operations
Recent auctions show banks still have a strong demand for liquidity following last month’s rate spike