Swap lines
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
South African Reserve Bank: the first 100 years
Central bankers and academics reflect on a tumultuous first century for Africa’s oldest central bank
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
Should the Fed’s Fima facility be made permanent?
The emergency repo facility reassures reserve managers about access to dollar cash during a breakdown in the US Treasuries market
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
Financial market infrastructure services: Bloomberg
Bloomberg’s responsive deployment of new liquidity capabilities helped emerging-market central banks cope with pandemic market disruption
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
ECB extends non-eurozone euro swap lines
Credit facilities set up at start of Covid-19 crisis will now run until March 2022, ECB says
Riksbank extends swap agreement with Fed
$60 billion line set up in response to Covid-19 extended until end of September 2021
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
BIS could play renewed role amid Covid crisis, scholar says
Fed’s role in dealing with Covid-19’s international effects has parallels with 1960s, historian argues
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
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
Fed extends swap lines and warns of slowing US economy
More fiscal and monetary stimulus will be needed as cases surge in US, chair Powell said
Chile and China expand bilateral swap line
Central banks more than double size of swap line and expand scope of use
Chinese banks’ dollar needs are large but unclear – BIS research
Swap lines meet most banks’ dollar needs, but firms may still struggle to access dollars, authors warn
ECB offers euros to non-eurozone central banks
Eurep facility aims to reduce international risks spilling over to eurozone, ECB says
Appetite for renewed Fed dollar swap lines in doubt
With up to $300bn of positions nearing expiry, some say FX swap market can meet banks’ funding needs
ECB and Romanian central bank set up repo swap line
Romanian currency has fallen in recent months as central bank lowers rates in response to pandemic
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how the BoE tackled the Covid-19 crisis in the markets
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high