Liquidity
UK looks to boost long-term investing
Working group says action needed to encourage illiquid investing without risking instability
Stress tests key for financial stability – Benchmarks participants
Most Benchmarks participants conduct stress tests more than once a year, but methods vary
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Podcast: Diversifying portfolios post-Covid
BNP’s Johanna Lasker talks about why central banks should consider equities and Tips
BoE’s Hauser mulls future of central bank balance sheets
Balance sheets will be bigger but also more variable, executive director says
PBoC to provide 300 billion yuan to SMEs
State Council calls on central bank to step in as Delta variant shows signs of denting growth
Majority of central banks have power to issue debt for monetary purposes
Central banks pointed to draining liquidity as a reason for issuing debt
Majority of central banks use corridors to set market rates
A handful use floors due to unconventional policy, and some use other methods
Norges Bank finishes crisis liquidity support programme
Last loan to banks matures today as central bank returns to pre-pandemic framework
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
Fed reverse repo demand tops $1 trillion
New York Fed facility sets latest in series of record volumes
IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month; mechanism for rich countries to pass on their share still unclear
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
BIS ‘Project Nexus’ targets 60-second cross-border payments
Project seeks to link up existing fast payment systems, but several hurdles remain
G30 calls for major US Treasury market reform
Rise of non-banks and side-effects of regulation are triggering bouts of “dysfunction”, report warns
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
The ‘golden age’ of central banking has passed
Central banks face 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 on both sides of the Atlantic 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