Sovereign debt
Argentina to continue reducing stock of short-term debt
Lebac’s expansion thought to contribute to inflation
IMF warns low-income countries about higher debt risks
Increased exposure to non-traditional lenders could increase rates and shorten maturities
RBI’s Kanungo warns on fiscal imbalances
State governments have borrowed heavily, making the RBI’s job harder, the deputy says
Argentina’s exposure to capital flows limits central bank actions
Peso seen as likely to remain under pressure despite forex interventions and sharp tightening
Argentina hikes to 60% as peso drops further
Monetary policy committee holds emergency meeting amid fresh trouble for the currency
Bank of Israel criticises government’s defence spending plans
Outgoing governor Flug also disagrees with finance ministry’s low-tax policies
BoE paper tests bond market ‘liquidity resilience’
Study of gilt futures draws on novel dataset to assess stability risks
Banque de France paper analyses sovereign debt crisis
High NPL and sovereign debt holdings affected banks’ interbank funding access, paper finds
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
SNB governor speaks about currency intervention, negative rates and reserves diversification
Viability of debt issuance could be hit as QE ends – Bank of Canada paper
QE played important role in funding treasury debt issuance, researchers say
IMF urges European authorities to complete banking union
Fund backs ECB’s accommodative stance; rates should remain low after QE ends in December
NPLs hindered financing for eurozone banks - Boston Fed paper
But Draghi’s August 2012 speech eased problems caused by sovereign debt holdings, researchers find
Danish governor reflects on central bank’s legacy at 200th anniversary
Fixed exchange rate adopted in 1982 was a turning point, Rohde says
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say Nalm delegates
Oil exporters present higher risk of default, researcher says
Researcher says most oil-exporting countries defaulted on their debt between 1979 and 2010
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows
Money market revamp would help transmit policy in Iran – IMF
Central bank currently struggles to conduct open-market operations
Lagarde proposes new European fiscal fund
Mechanism would reduce reliance on monetary policy to respond to future crises
SNB struggles to end ultra-loose policy regime
Swiss central bank’s hopes of normalising policy are being held back by various domestic and foreign factors
Sovereign debt more ‘enforceable’ – ECB paper
Results show creditors have used courts to “pressure” foreign governments
Ireland withdraws Lane’s nomination for ECB vice president
Spain’s de Guindos likely to take up role, but Irish may suggest Lane for chief economist post
People: Tunisian governor resigns; EFSF appoints chairman
Governor Ayari quits after Tunisian prime minister initiated the process to replace him; and more
A dangerous unknown: interest rate risk in the financial system
Urgent action needed to tackle danger; current macro-pru tools still inadequate
Global custodian of the year: BNY Mellon
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