Liquidity
The ‘golden age’ of central banking has passed
Central banks are up against multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
IMF executive board backs $650 billion SDR allocation
Allocation is set to be largest in the fund’s history, with launch expected in August
Could higher US inflation boost euro’s international role?
Divergent rates of inflation may compel investors to look for alternatives to the dollar, panellists say
Basel III helped absorb impact of Covid-19, says BCBS
Early study of pandemic finds better-capitalised banks lent more to households and businesses
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
FSB proposes menu of policies to tackle money market fund risks
Proposal aims for tailored approach to boosting resilience of key funding markets
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says
Bank of England prepares for first public CCP stress test
Discussion paper sets out eight components of supervisory stress test for key market infrastructure
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Bank of Ghana launches local gold-buying programme
Central bank aims to double gold reserves over the next five years and support local mining industry
El Salvador’s bitcoin currency experiment
Move by first nation to approve bitcoin as legal tender raises important issues
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
BoE says stablecoins must be as trustworthy as commercial bank money
Stablecoins may require tailored regulation and access to emergency liquidity facilities, paper says
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
NY Fed prepares to sell corporate bond portfolio
Holdings of $13.7 billion were bought under emergency SMCCF programme
How the Fed’s Fima addressed the 2020 dollar liquidity shortage
The fifth chapter of HSBC's Reserve Management Trends 2021 explores how the Fed's repo facility supported markets during the Covid-19 pandemic
New York Fed announces record use of reverse repo facility
Value of transactions exceeds December peak and number of counterparties nearly doubles
Central bank mandates differ between advanced and emerging economies
Emerging economy central banks more likely to have financial stability mandate
Should the Fed’s Fima facility be made permanent?
Emergency repo facility reassures reserve managers about access to cash during breakdown in US Treasuries market
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief speaks about fintech risks for supervisors and monetary policy-makers, and hub development plans
Central Bank of Kenya to liquidate bank after ‘severe violations’
Action on smaller lender comes as CBK looks to complete long-running resolution of Chase Bank
Paycheck protection facility supported lending – Fed paper
Study finds liquidity facility helped banks lend more to small businesses during the Covid-19 crisis