Risk
Haldane makes case against ‘economic anxiety’
Communication essential to avoid caution “morphing into fear and fatalism”, says BoE chief economist
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts
Fed will calibrate NSFR to avoid hurting repo
Fed’s supervision head says final liquidity rule will be fast-tracked without fresh consultation
ECB paper offers model for timely response to financial risks
Framework should allow policy-makers to act rapidly in response to rising risk, authors say
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
Sterling swap traders brace for new Sonia switch deadline
Covid delays force regulators to set new date for interdealer swap market to price off RFR
Spread gap between green and grey bonds closing – BIS specialist
Measuring and incorporating sustainability still a challenge, says Omar Zulaica
One third of reserves staff work in front-office roles
Average reserve management team size is less than 30 employees
Deeper EU capital markets will improve risk sharing - BdF paper
Researchers present new methodology to estimate cross-border financial risk sharing in the EU
Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
BIS warns of gap between market valuations and reality
Corporate credit spreads have tightened, despite what the BIS sees as a looming solvency crisis
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
Emerging markets act as standard bearers for tranching
Nearly two-thirds of reserve managers tranche; largest allocations made to investment tranche
Some large reserve managers eschew liquidity stress tests
Majority of central banks test for thin trading, but three in 10 larger managers do not
BIS paper explores changing inflation risk factors
Authors highlight “significant non-linearities” among a range of risk factors
Bank investors still don’t think bail-in will happen, FSB told
Questions over bailing in bank bondholders mean problem of too big to fail persists, experts warn
BoE officials fear long-term ‘scarring’ as uncertainty hits record high
MPC members broadly gloomy on the outlook, but there is “huge” uncertainty, says Andrew Bailey
Competition has varied impact on bank risk – BoE paper
Quantile regression gives more detailed picture than earlier studies, authors say
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
Bailey urges early intervention on stablecoin risks
BoE governor says multi-currency stablecoins do not appear to be viable payment systems at present
Alternative funds play key role in spreading shocks – study
Spillovers rose dramatically during Covid-19 stresses, authors find
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Financial indicators can warn of European growth risks – ECB paper
Index that aggregates financial variables in non-linear way provides most information – researchers