Liquidity
Rethinking policy transmission in the age of AI
Managing machine expectations related to faster, more non-linear and potentially asymmetric price dynamics will require analytical innovation and potentially new forms of oversight, argues Elisa Vilorio de Painter
New Zealand banks can withstand geopolitical shocks, says RBNZ
Latest stress test monitors impact of recession and liquidity crisis triggered by potential global events
Schlegel: Liechtenstein is on its own for financial stability
SNB governor says principality’s lenders are not entitled to bank’s emergency liquidity facilities
Working group minutes: central banks face balance sheet challenges
Some institutions are struggling to absorb large amounts of excess liquidity
Changing balance sheet composition mostly reflects normalisation
Gold buying and FX interventions drive changes in some jurisdictions
Inflation targeters mainly use corridor systems to set interest rates
But many central banks with exchange rate controls also use corridor systems
PBoC to resume open market China bond trading
Analysts expect purchases by central bank to support liquidity and government fiscal policy
Digitisation of money brings more regulatory risks – IMF head
Georgieva says crypto regs are in early stages and not yet coherent internationally
Norges Bank introduces new tool to reduce excess liquidity
‘Central bank certificates’ to supplement quotas, F-loans and F-deposits from 2026
Lagarde revives pitch for euro’s international role
Single currency can become ‘true source of strength’, ECB president says
Bank of Thailand unexpectedly holds policy
Vitai Ratanakorn’s first meeting as governor results in 5–2 vote to keep rates at 1.5%
FX market becoming stronger transmitter of stress, IMF warns
Fund probes changing structure of world’s ‘largest and most liquid financial market’
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
Book notes: Bankers’ trust, by Aditi Sahasrabuddhe
A novel investigation into how trust among central bankers – or lack thereof – helped and worsened crises of the past
China leaves benchmark lending rates unchanged
One- and five-year LPRs held steady as PBoC conducts 14-day reverse repo operations before holiday
Central banks modestly increased duration in past year
Some changed duration due to tariff impact, but not all in the same direction
Stablecoins pose bigger risks to US than to EU – de Guindos
ECB vice-president also expresses hope that “populist movements in Europe do not prevail”
BI makes third surprise cut as lawmakers mull its mandate
Bank says 25bp easing aimed at promoting growth, pledges further monetary-fiscal policy alignment
New taxonomy of operating frameworks from BIS economists
Two-dimensional approach captures “surprising similarities” between different methods
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
Liquidity impairment harms policy transmission – BIS paper
Authors say QE may be more potent in times of market stress
Bank of Burundi to overhaul country’s market operations
Central bank teams with LSEG to upgrade east African country's financial market infrastructure
IMF model links banks’ liquidity and capital adequacy rules
Lenders balance liquidity and solvency risk, paper says
ECB working to simplify banks’ annual health checks – Donnery
Srep will become more tailored to lenders, says supervisory board member