Repos
Finland’s Välimäki on the ECB’s monetary policy framework review
Bank of Finland board member Tuomas Välimäki discusses the benefits of a ‘hybrid’ balance sheet model to provide dependable structural liquidity without distorting markets
NY Fed’s push for repo haircuts gets a tepid response
New risk management standards could make it harder to finance US Treasury purchases
ECB to move to ‘hybrid’ balance sheet model – Finland’s Välimäki
Bank of Finland board member heralds “new dawn” of Eurosystem monetary policy implementation
BoE makes subtle leverage snipe at CCP cross-margining
Margin offsets might increase risk, but could also encourage more central clearing
BoE to consult on promoting clearing for gilt repo market
Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
Pension funds hesitate over BoE’s buy-side repo facility
Reduced leveraged and documentation ‘faff’ curb appetite for central bank’s gilt liquidity lifeline
EU firms fear dollar liquidity becoming tariff bargaining chip
Trade war escalation could affect ECB's access to Fed swap lines
No need for repo clearing ‘cannon’ in Europe, says industry
Observers question rationale for a clearing mandate, calling for clearer incentives
Gilt repo clearing mandate on Bank of England’s radar
Sources say regulator mulling benefits of US-inspired regime, but is non-committal
Data from Covid liquidity programmes could improve markets – BoC study
Anonymising and aggregating information would assist with price discovery, argues research
HKMA’s renminbi repo plans boost hopes for onshore access
Market participants optimistic that new provisions for offshore repos of onshore bonds are first step towards mainland access
Repo and FX markets buck year-end crunch fears
Anticipations of changes to the Fed’s reverse repo programme contributed to easing balance sheet pressures
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
Basis swaps surge amid US repo concerns
Fed funds-versus-SOFR swap volumes nearly quadruple as declining Fed reserves impact funding rates
ECB to introduce structural bond portfolio and LTROs – Schnabel
Executive board member says QT worries have not materialised
PBoC launches new reverse repo operations
Injections via new liquidity tool could help offset maturing central bank loans to banks in fourth quarter
People’s Bank of China cuts RRRs and key rates
Bank starts to implement slew of stimulus measures
China announces 10bp cut in short-term interest rate
Decision comes days after central bank left benchmark rates unchanged
Pricing and funding pressures from BoE's QT hit gilt repo dealers
QT-driven funding cost rises combined with clients’ price demands see at least two banks pull back
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
PBoC stops injecting short-term liquidity
Decision adds to central bank’s recent efforts to tame rally in long-term government bonds
PBoC unexpectedly cuts key interest rate
MLF rate’s 20bp reduction is largest decrease since 2020
BoE to open non-bank emergency facility in Q4
Central bank working “at pace” to deliver facility, as it publishes provisional design