Liquidity
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
Risk manager: National Bank of Georgia
Liquidity stress tests provided confidence to ease daily thresholds, and offer exchange rate, internal market and financial system support, without forcing the liquidation of illiquid reserves
Central Banking Awards 2021: third round of winners revealed
Awards go to central banks and market practitioners for payments, market infrastructure and currency
Financial market infrastructure services: Bloomberg
Bloomberg’s responsive deployment of new liquidity capabilities helped emerging-market central banks cope with pandemic market disruption
NY Fed increases reverse repo ceiling
Fed move aims to regulate influx of liquidity to money market funds, analyst says
Central Banking Awards 2021: second group of winners announced
Lifetime achievement award unveiled, plus awards for transparency, advisory, global markets and more
Global markets award: BNP Paribas
The bank shone across a wide range of business areas and regions during the turbulence of Covid-19
Climate initiative: HSBC
The UK bank is working closely with central banks and other official institutions to support the transition towards a greener global system
National Bank of Denmark simplifies monetary framework
Central bank aims to reduce excess liquidity effect on money market rates
Riksbank renews Covid-19 lending facilities
Riksbank extends $60 billion facility and will penalise banks that do not lend to non-financial firms
RBNZ winds back pandemic liquidity support
Use of two facilities has been “very low” in the last six months, RBNZ official says
BoE to consult on Sonia clearing mandate
Long-dated Sonia swaps set to lose clearing exemption as liquidity shifts from Libor
BIS paper proposes solution to ‘runnable brown assets’
Central bank liquidity backstop could boost stability and encourage firms to go green, authors say
Myanmar central bank caps cash withdrawals
Officials claim measure is part of digital transition, while the military grows more violent
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
ECB extends non-eurozone euro swap lines
Credit facilities set up at start of Covid-19 crisis will now run until March 2022, ECB says
Final NSFR rule unlocks subsidiary funding for US banks
Technical clarification allows subsidiary capital to be assigned as funding for consolidated group
IMF provides $2.7 billion ‘precautionary’ support to Panama
Liquidity line will act as “insurance” for Panamanian authorities grappling with Covid, IMF says
US Fed facility bought Libor bonds with ‘weak’ fallbacks
Industry figures express surprise over purchases linked to doomed benchmark
Central banks must become ‘market-makers of last resort’ – BoE’s Hauser
Measures used in Covid-19 crisis are insufficient for the long term, BoE official says
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies