Repos
How to run a world-class economics department
Benchmarking data shows central banks have myriad ways of organising their economists. So how do some of the world’s top research organisations do it?
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Chile signs up to IMF’s first short-term liquidity line
Revolving $3.5 billion credit will replace flexible credit line arrangement
RBI bolsters liquidity framework with standing facility
New deposit facility will play a role in both monetary and financial stability
ECB opens €10 billion swap line with National Bank of Poland
Central bank extends repo lines with non-eurozone counterparts until January 2023
Bank of Canada says software problem halted repo auction
Central bank says securities repo operations have now restarted
FOMC doubles ceiling for reverse repo bids
Participating institutions can now borrow up to $160 billion per bid
Pandemic Treasuries market calmed quickly – research
Dallas Fed analysis finds “headwinds” early on, but not lasting pandemic disruptions
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
Fed reverse repo demand tops $1 trillion
New York Fed facility sets latest in series of record volumes
G30 calls for major US Treasury market reform
Rise of non-banks and side-effects of regulation are triggering bouts of “dysfunction”, report warns
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Fed extends nine dollar swap lines to year’s end
Federal Reserve established liquidity arrangements with foreign partners at start of pandemic
New York Fed announces record use of reverse repo facility
Value of transactions exceeds December peak and number of counterparties nearly doubles
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
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
NY Fed increases reverse repo ceiling
Fed move aims to regulate influx of liquidity to money market funds, analyst says
Collateral management services: Calypso Technology
The US-headquartered tech company has helped to develop the “new backbone” of the Swiss financial market, offering flexibility, standardisation and automation to the Swiss collateral management process
Covid-19 reveals systemic flaws – Brainard
Fed board member weighs impact of March 2020 crisis in money markets, warning some risks remain
New York Fed’s markets chief leaves for White House job
Singh will hold joint security and economics position; Baum becomes acting head of markets