Risk
Cuts in oil output may imperil Norway’s financial sector – Norges Bank
Central bank warns prospect of environmental policies may be weakening the krone
Fed reduces rates but signals pause
Current stance of policy “likely to remain appropriate” to sustain moderate expansion, Powell says
Bank of Canada on hold but watching economy’s ‘resilience’
Governing council says economy is likely to be “tested” by trade conflict and uncertainty
De Cos maps out ‘future path’ for Basel Committee
New chair says four key principles will guide the committee’s approach
Tackling ‘dead-end’ monetary policy
A shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
AI use proliferating in UK financial services, regulators find
Machine learning can increase efficiency but also amplify risks, BoE and FCA say
IMF: loose monetary policy is fostering greater risk-taking
A crisis half as strong as in 2008 could send “corporate debt at risk” to $19 trillion, says the fund
BoE’s Vlieghe: central banks must focus on ‘debt, demographics and distribution’
Risk-based approach could be helpful in thinking about the impact on rates, policy-maker says
Chilean central bank deputy calls for co-operation on climate change
Data collection on physical and energy transition risks and their economic impact is a priority
BSP’s Diokno on forward guidance and cutting reserves
The Central Bank of the Philippines governor speaks to Christopher Jeffery and Alice Shen about fintech, efforts to wean Asia off the US dollar, and why he wants to cut policy and reserve requirement rates
Machine learning can help spot bank distress – BoE paper
Use of confidential data helps catch distress early, and ML can cope with complexity, authors say
Protracted low rates demand solid macro-prudential frameworks – Claudia Buch
Bundesbank vice-president says nature of monetary union demands strict surveillance
Bank of Korea warns of worsening financial stability as exports fall
More rate cuts expected as South Korean exports fall for 10 consecutive months
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Fed has a risk management problem – Richmond Fed president
“The economy is giving us conflicting signals,” Tom Barkin says
Mortgage caps can be higher for insured borrowers – DNB paper
Loan-level data from Netherlands shows insurance cuts risk of non-performance, say researchers
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
Regional Fed presidents differ starkly over US economy
Boston Fed president warns of easing risk creates risks, but St Louis Fed chief says manufacturing is in recession
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
Cyprus central bank adopts Maps treasury management system
The system was built by Calypso and has been used by the Bank of Spain and Banque de France since 2016
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
PRA’s Mills on future fintech challenges for supervision
The PRA's chief operating officer Clair Mills discusses tensions caused by disruptive innovation, major uses of AI, the role of big tech and the future of supervision