Liquidity
China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
BoE economists outline model of liquidity-solvency spirals
Model aims to test banks against the sort of interactions that led to collapse of SVB and Credit Suisse
EEA non-banks to gain direct Target access from October 6
Fintechs to benefit from reaching beyond Sepa, Lithuanian central bank says
Financial Stability Benchmarks 2025 report – the threat from tariffs
Benchmarks highlight how many central banks see tariffs as a high risk to financial stability
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Minimum gilt repo haircut could boost stability – BoE official
Measure helps prevent build-up of extreme leverage among non-banks, FPC member Benjamin argues
Brunei and Singapore ink cross-border collateral agreement
Central banks say move will allow access to wider range of collateral for liquidity operations
Fed’s new leverage ratio: the horse that never left the gate
Most of the biggest dealers aren’t leverage constrained now, and experts are sceptical that banks will use the extra capacity for Treasuries
BoE’s Benjamin on market resilience, non-bank liquidity and the modern financial system
The UK central bank’s executive director for financial stability strategy and risk speaks about leverage in the gilt repo market, minimum haircuts and central clearing, and securing liquidity to where it’s needed
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Only 5% of central banks reveal individual bank stress-test results
Respondents share details of how stress scenarios are developed
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
Supervision Benchmarks 2025 – executive summary
Data reveals focus on digitalisation and widespread use of suptech tools
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
Wholesale bank funding boosts policy transmission – paper
NBER study highlights trade-offs between reducing systemic risk and facilitating credit flow
More NBFI liquidity data could aid financial stability – ECB study
Research recommends active margin call monitoring for non-banks
Hong Kong’s FX interventions came at right time, say economists
Experts believe the resulting fall in interest rates has provided welcome stimulus
Former OCC chief on the sting of peeling the Basel III ‘onion’
Michael Hsu warns successors not to cut bank capital or neglect rate risks that destroyed SVB
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Central banks explore migration to quantum-proof financial system
BIS partners with monetary authorities in initiative aimed at protecting data and transactions
Most supervisors monitor banks’ exposure to non-banks
But majority do not apply Pillar 2 requirements specific to non-bank exposures