Coronavirus
PBoC: over 1,000 Chinese finance workers infected by Covid-19
Deputy governor says 42 employees of finance firms have died because of coronavirus
Riksbank steps up pace of crisis support programme
Swedish financial regulator says publicly-quoted firms must stop equity payouts
US health system likely to be overwhelmed – Minneapolis Fed paper
Policy-makers must support massive healthcare investment and severe social distancing – researcher
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
Bank of Mexico cuts rates 50bp in emergency meeting
Analysts expect further cuts as the economy is expected to enter a sharp recession
Fed commits to unlimited bond purchases in massive new programme
FOMC announces radical new measures and calls on other policy-makers to act aggressively
US regulators offer more guidance on loan restructurings
Any modified loans remain eligible collateral for discount window, Fed says
China will suffer recession, say Bank of Finland experts
Economic policy response has been fragmented and banks may not respond to PBoC incentives – research
New York Fed to offer $1 trillion per day in repo funding
Move sends message the Fed stands ready to meet any increase in funding demands over coming period
Fed expands lending facility to support municipal bond market
Political pressure mounting to support local governments; senator proposes bill to broaden QE powers
ECB temporarily relaxes NPL regulation
Central bank estimates lower capital requirements will release €120 billion for lending
Dollar crunch eases as central banks step up swaps action
Core swap recipients will offer daily dollar auctions; cross-currency basis narrows
US banks increase discount window borrowing
Federal Reserve “encouraged by the notable increase” in use of the backstop facility
Will cash survive Covid-19?
Fears are emerging that banknotes may carry the coronavirus. Are they justified?
Norges Bank slashes rates to record low of 0.25%
Central bank says workers are being laid off, as Norway faces double shock from virus and oil
BoE axes 2020 stress test and gives supervisory guidance
IFRS 9 a challenge for firms given high uncertainty over virus impact
Fed expands network of swaps to emerging markets
Emerging markets will now have direct access to a dollar backstop, but it is still limited
ECB launches €750bn emergency purchase programme
Governing council says new tool will remain active until Covid-19 crisis is over, stands ready to increase it
Fiscal effects may take several weeks to pass through – research
Economist examines lag time for Obama’s Great Recession-era fiscal package
Bailey says BoE ‘will do what it takes’
BoE governor echoes Draghi after sterling plunges despite creation of new lending facility
Riksbank resumes QE by buying government debt
Swedish central bank buys $245 million in sovereign debt and will buy covered bonds on March 25
Norges Bank sharply increases foreign exchange sales
Central bank converts oil revenues into krone to finance government’s coronavirus response
RBNZ delays new capital rules
Central bank defers start date until 2021 and slows down other regulatory reviews
Banks rush to tap new dollar liquidity facilities
IIF warns of major capital flight from emerging markets as demand for Fed-backed repos surges