Risk
Financial Stability Benchmarks 2022 report – executive summary
Data sheds light on how central banks are dealing with risks to stability
Joseph Stiglitz on the challenge of fixing macroeconomics
Nobel Prize-winner discusses if central banks went wrong in 2021 and what to do about inflation
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers during the past three months
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with buffer hike while forecasting recession
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Big tech firms may suffer from ‘too much information’ – BIS paper
Firms that pry too much into customers’ affairs may find themselves with no business, authors say
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
Chile renews IMF flexible credit line as risks grow
Months after ending the previous facility, Chile has reactivated it
Two rural banks in China’s Liaoning province go under
Regulator says the banks were involved in illegal operations
Banks shock commodities by 1,000% in stress-test rethink
Energy price spikes force clearing firms to consider extreme or even ‘implausible’ scenarios
Book notes: The Fed unbound, by Lev Menand
This book highlights need for charter-like oversight of shadow banking sector
Is money growth really the main inflation culprit?
A closer look at inflation in the eurozone and Switzerland
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
‘Very little support’ for a US Treasury clearing mandate – Isda
Dealers and clients prefer carrot to stick in efforts to improve Treasury market liquidity
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
BIS report highlights challenge of modelling green reserve portfolios
Survey of central banks finds legal mandates and liquidity make green reserves management difficult
Central Bank of Oman warns of climate risks to financial stability
Physical and transition risks identified in the oil-exporting country
South Africa risks FATF sanction as legacy of state capture endures
Central bank finds thousands of bank clients have missing citizenship and incorporation data
Eurozone needs macro-prudential tools for climate change, says ECB
Regulators are struggling to address climate change risks, joint ECB-ESRB report finds
DNB officials propose framework for central bank capital
Study offers central banks a guide to the complexities of latent risk and independence
Monetary Policy Benchmarks 2022 report – a pandemic legacy
Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency