Capital
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Supervisors should take action on interest rate risk – BIS paper
Core regulation alone will not neutralise all current risks, Financial Stability Institute says
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
UK credit stress is rising, BoE official warns
David Bailey says financial firms “need to take action now” to prepare for higher defaults
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
Book notes: The big con, by Mariana Mazzucato and Rosie Collington
The authors highlight that the excessive pursuit of efficiency results in ineffective government agencies
JP Morgan buys First Republic in weekend rescue deal
US suffered “a bit of complacency” on banking regulation, says IMF chief
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Governance Benchmarks 2023 report – the frameworks that underpin central banks
Data reveals differences in profits, appointments and policies among EMEs and advanced economies
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
Yellen flags ‘contagious bank run’ risk
US Treasury secretary pledges small banks will gain 100% deposit insurance if needed
Lifetime achievement: Stefan Ingves
Modest man from the Finnish ‘boonies’ has had a major impact on international central banking