Liquidity
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
ECB paper argues for existence of ‘liquidity coverage channel’
Researchers analyse impact of eurozone central banks’ actions after onset of Covid-19 pandemic
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
MAS launches asset tokenisation and DeFi project
First pilot on bond transactions will involve state-owned firms and JP Morgan
BoE finds ‘shortcomings’ in three UK banks’ resolution plans
Central bank’s first resolvability assessment concludes banks can now fail “safely”
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Peru halves IMF credit line
Authorities say plan to phase out flexible credit line is mark of “very strong fundamentals”
‘Unconventional credit policy’ can help avoid lower bound – BIS paper
Liquidity injections can be useful tools but also face limits, authors find
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
Fed nominee Barr plans to re-evaluate capital and liquidity rules
Proposed vice-chair for supervision sees limited role for Fed in tackling climate change
Fed research examines single cyber attack’s effects on stability
Federal funds market and discount window kept banks liquid despite attack – researchers
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Shadow banks: the biggest threat to US financial stability?
Non-bank risks may be the greatest problem facing the Fed’s incoming vice-chair for supervision
Fed paper examines non-bank emergency facility
More flexible investors tapped facility earlier, doing more to stabilise markets
CBDC little threat to Canadian bank liquidity – paper
Bank of Canada research says most bigger banks have enough funding to handle retail CBDC competition
ECB renews repo line for Romanian central bank
Move comes after ECB creates liquidity facility for Poland and renews four other repo lines
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious