Macro-prudential policy
Innovate to tackle challenges, says BoT deputy governor
Mallikamas outlines ways to deal with economic and geopolitical uncertainties
RBNZ will activate debt-to-income tool
New Zealand central bank to bring in new macro-prudential tool in July
Bank of Spain imposes capital buffers on Portugal-exposed lenders
Move follows Bank of Portugal’s November decision over possible risks in housing market
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
CGFS draws lessons from 168 years of macro-pru policy
Controlling housing market risks can force authorities into difficult political economy terrain
RBI’s Das warns banks to avoid ‘exuberance’ as credit surges
Indian central bank tightens macro-prudential policy on consumer credit
People: Philadelphia Fed hires new number two
Indian and UK central banks make senior appointments; and more
Bank of England launches system-wide stress-test scenario
Exercise is first-of-its-kind look at macro-prudential impact of shocks to banks and non-banks
Fed’s Cook is concerned about non-banks and real estate prices
Hedge funds could rapidly pull out of Treasury cash futures market
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
ECB raises concerns over Italian macro-pru committee
Decree should give a casting vote to governor and remove members’ vetoes, ECB says
BoE to conduct ‘desk-based stress test’ for 2024
Financial policy committee warns of some risks in UK corporate and household finance
Financial Stability Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including resources, regulation, macro-pru, crime and future risk
Financial Stability Benchmarks 2023 report – how central banks confront risk
Central banks discuss resources, regulating banks and non-banks, macro-pru, crime and future risk
Macro-pru tools can cut risk of credit bust – IMF paper
Authors explore whether building buffers can increase resilience over the medium term
BoE paper analyses banks’ forecasting accuracy
Banks with better governance, including more senior women, make better predictions, authors find
ECB paper models ‘state-dependent’ impact of capital ratios
Model simulates ratio changes’ effects on credit supply in different macro-financial conditions
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
Liquidity buffers had mixed impact during Covid-19, ECB paper finds
Higher buffers for funds slowed initial fire sales but had less impact during “peak phase”
Borrower-based measures show value as macro-pru tools
Central Banking Summer Meetings: Central bankers resist pressure to ease buffers at first sign of downturn
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs