Bonds
Trends in reserve management 2021: survey results
Results of the 17th annual Reserve Management Trends survey of reserve managers conducted in February and March 2021
RBA cancels market operations due to outage
Issue at third-party provider impacted central bank and several commercial banks
Riksbank to revise ethical rules after staff infringements
Employees were involved in equity transactions before monetary policy decisions
ECB could tilt bond purchases to favour greener companies – Schnabel
But sovereign bond purchases must overcome scarcity of green bonds and limits imposed by capital key
Spanish governor favours green monetary policy
Hernández de Cos stresses ECB should account for climate risks in its price stability mandate
ECB poised to clarify tapering of PEPP purchases
Analysts agree central bank views higher inflation as transitory and will maintain rate of purchases
Eurozone ‘high-yield’ firms face bond market squeeze – ECB paper
ECB could loosen conditions for buying bonds for firms hit by pandemic, economist says
New York Fed to begin SMCCF bond sales
Federal Reserve plans to offload $13.7 billion in corporate debt bought as pandemic measure
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
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
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
BoE unveils plan to ‘green’ its corporate bond-buying
Hauser says BoE will “tilt” bond purchases and might insist on full climate disclosure by issuers
Book notes: Quantitative easing, by Jonathan Ashworth
Well-documented and fairly comprehensive book for anyone, including central bankers, wanting an overview of how monetary policy has evolved in recent decades
German court dismisses challenge to ECB bond-buying
Constitutional court ends long-running challenge to asset purchase programme
Green bonds remain a challenge for reserve managers
Duration and issuance model curb investing in green market, Finland’s asset management head says
NY Fed updates Treasuries purchasing programme
New York Fed changes maturity ranges and sector weights of bond purchases
Iran’s government orders central bank to bolster stock market
Central bank ordered to sell off $200 million in assets and lift restrictions on investing
BlackRock research pushes back at concerns over bond ETFs
BIS paper had suggested ETF sponsors may have sold illiquid assets to discourage redemptions amid Covid stress
Israeli reserves reach new record high
Foreign currency purchases to offset shekel’s strength boost portfolio to $194 billion
SNB’s Jordan rejects higher profit distribution
Current system takes into account market risk stemming from ever-larger balance sheet
Riksbank maintains stimulus as it revises up growth forecasts
Swedish central bank says a return to negative rates is possible if inflation target is imperilled
Fed must clarify future of QE, IMF says
IMF warns that rising longer-term Treasury yields could have major impact
Green instruments added as collateral for lending facilities – PBoC governor
China’s central bank will launch tools to encourage emission reductions