Liquidity
US mutual funds' liquidity risk on the rise – Boston Fed paper
Ratio of illiquid assets to net assets increased from 2009 to 2019, researchers find
Debt securities still key in capital flows to EMEs – BIS
Latest global liquidity statistics show ongoing growth in euro and dollar liquidity
BoE says no-deal Brexit now unlikely
Bank of England ends additional liquidity supervision after passage of withdrawal agreement
Hong Kong and Thailand launch next phase of cross-border CBDC project
CBDC-based payments can cut costs and boost speed, HKMA and Bank of Thailand study shows
Cyber attack could freeze liquidity in US financial system – NY Fed paper
Attack on one bank could affect more than a third of banking system’s assets, researchers warn
Non-bank growth slowed in 2018, says FSB
Riskiest forms of non-banks still growing, but overall assets went into reverse in 2018
Fed slims down repo market interventions
Relative to year-end, the Fed will cut $250 billion of the cash offered to banks
Fed to wean banks off daily repos later this year
Total reserves may need to be higher than Fed initially judged as demand for repo operations remains strong
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown, while oversight is “fragmented”, report warns
New York Fed launches longer-term liquidity fix
Markets desk tells overseas central banks that foreign repo pool rate will be revised
New CBSL governor targets transmission mechanism
Priorities for 2020 include tackling bottlenecks, boosting transparency and improving analytics
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Monetary easing can boost birth rate, BoE paper finds
People had more children after rates were slashed post-crisis, researchers find
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
Yngve Slyngstad: contrarian person, brilliant investor
Knut Kjær reflects on the character of the man that has led Norway’s $1.1 trillion sovereign wealth fund and contemplates the complex governance challenges ahead
BoE and FCA move to tackle systemic risks in open-ended funds
Illiquid funds will be expected to impose a price discount or delay in event of investor sales; Mark Carney says issues are “increasingly appreciated” in global discussions
‘Consolidated’ Basel framework finalised
New version is somewhat simpler and easier to navigate, Basel Committee says
New York Fed expands year-end repo operations
More cash to be made available both overnight and in term repos
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
Banks’ repo muscles may have ‘atrophied’ – Borio
BIS report highlights impact on market functioning from Fed and ECB easing action
Signs of US banks’ year-end funding concerns continue
New York Fed’s second 42-day term operation oversubscribed by $18 billion
Fed’s supervision may have added to repo turmoil, Quarles says
Republican lawmaker concerned for financial stability if “bad regulation” is driving monetary policy
US banks show signs of year-end funding concerns
Banks demanded nearly twice the amount of cash on offer in NY Fed’s new term repo
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets. But will its efforts be enough to foil year-end pressures? Could opening the standing repo facility to foreign central banks help?