Yale School of Management

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News in Systemic Risk: Monday, September 21, 2020 (10 a.m. ET)

September 21, 2020
Pablo Hernández de Cos: Challenges for the Spanish economy in the face of the impact of the pandemic (Pablo Hernández de Cos; Bank for International Settlements) Andrew Hauser: From LIBOR to SONIA - a bridge to the future (Andrew Hauser; Bank for International Settlements) Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act (Federal Reserve Board of Governors) EBA phases out its Guidelines on legislative and non-legislative loan repayments moratoria (European Banking Authority) Regulatory spillover: Evidence from classifying municipal bonds as high-quality liquid assets (Jacob Ott; Brookings Institution) Continue reading “News in Systemic Risk: Monday, September 21, 2020 (10 a.m. ET)”

News in Systemic Risk: Friday, September 18, 2020 (10 a.m. ET)

September 18, 2020
Forecasting the Covid-19 recession and recovery: lessons from the financial crisis (Claudia Foroni, Massimiliano Marcellino, Dalibor Stevanović; European Central Bank) Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests (Federal Reserve Board of Governors) ECB finalises guide to assessing how banks calculate counterparty credit risk (European Central Bank) Hutchins Roundup: SMCCF, COVID fatality rates, and more (Sophia Campbell, Lorena Hernandez Barcena, Louise Sheiner; Brookings Institution ) Post-pandemic debt sustainability in the EU/euro area: This time may (and should) be different (Lorenzo Codogno, Giancarlo Corsetti; VoxEU) CFTC drops 48-hour delay in final changes to public swap reporting rules (Kellie Mejdrich; Politico ) Indonesia’s Lawmakers Call for Caution Over Central Bank Reform (Grace Sihombing; Bloomberg) Continue reading “News in Systemic Risk: Friday, September 18, 2020 (10 a.m. ET)”

News in Systemic Risk: Thursday, September 17, 2020 (10 a.m. ET)

September 17, 2020
ECB’s Governing Council says that exceptional circumstances justify leverage ratio relief (European Central Bank ) Special Drawing Rights back on the agenda during the coronavirus pandemic (Riksbank) Flying blind: What do investors really know about climate change risks in the U.S. equity and municipal debt markets? (Parker Bolstad, Sadie Frank, Eric Gesick, David G. Victor; Brookings Institution ) Extracting implicit country weights in the ECB’s monetary policy (Márcia Pereira, José Tavares; VoxEU) BOE Steps Up Negative Rates Work as Threats to Economy Multiply (David Goodman, Fergal O'Brien; Bloomberg) EU sets out new attempt to deepen capital market: document (Reuters) Continue reading “News in Systemic Risk: Thursday, September 17, 2020 (10 a.m. ET)”

News in Systemic Risk: Wednesday, September 16, 2020 (10 a.m. ET)

September 16, 2020
A Supplement To China Monetary Policy Report--Promoting LPR Reform Orderly (The People's Bank of China) Ministry of Finance issues Renminbi Sovereign Bonds through Central Moneymarkets Unit of Hong Kong Monetary Authority (Hong Kong Monetary Authority ) Lessons learned from the world’s first CBDC (Aleksi Grym; Bank of Finland) South Africa’s ANC Stalls Plan to Nationalize Central Bank (Michael Cohen; Bloomberg) Continue reading “News in Systemic Risk: Wednesday, September 16, 2020 (10 a.m. ET)”

News in Systemic Risk: Tuesday, September 15, 2020 (10 a.m. ET)

September 15, 2020
Quarterly Review: Markets rise despite subdued economic recovery (Bank of International Settlements) Review of the Federal Reserve’s monetary policy strategy: main aspects and impact on the financial markets (Banco de España) Riksbank’s USD loans extended (Riksbank) Interest rate pegs and the reversal puzzle: On the role of anticipation  (Rafael Gerke, Sebastian Giesen, Daniel Kienzler; Deutche Bundesbank) Monetary Policy Surprises and Exchange Rate Behavior (Refet S. Gürkaynak, A. Hakan Kara, Burçin Kısacıkoğlu, Sang Seok Lee; National Bureau of Economic Research) Continue reading “News in Systemic Risk: Tuesday, September 15, 2020 (10 a.m. ET)”

News in Systemic Risk: Monday, September 21, 2020 (10 a.m. ET)

September 21, 2020
Pablo Hernández de Cos: Challenges for the Spanish economy in the face of the impact of the pandemic (Pablo Hernández de Cos; Bank for International Settlements) Andrew Hauser: From LIBOR to SONIA - a bridge to the future (Andrew Hauser; Bank for International Settlements) Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act (Federal Reserve Board of Governors) EBA phases out its Guidelines on legislative and non-legislative loan repayments moratoria (European Banking Authority) Regulatory spillover: Evidence from classifying municipal bonds as high-quality liquid assets (Jacob Ott; Brookings Institution) Continue reading “News in Systemic Risk: Monday, September 21, 2020 (10 a.m. ET)”

News in Systemic Risk: Friday, September 18, 2020 (10 a.m. ET)

September 18, 2020
Forecasting the Covid-19 recession and recovery: lessons from the financial crisis (Claudia Foroni, Massimiliano Marcellino, Dalibor Stevanović; European Central Bank) Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests (Federal Reserve Board of Governors) ECB finalises guide to assessing how banks calculate counterparty credit risk (European Central Bank) Hutchins Roundup: SMCCF, COVID fatality rates, and more (Sophia Campbell, Lorena Hernandez Barcena, Louise Sheiner; Brookings Institution ) Post-pandemic debt sustainability in the EU/euro area: This time may (and should) be different (Lorenzo Codogno, Giancarlo Corsetti; VoxEU) CFTC drops 48-hour delay in final changes to public swap reporting rules (Kellie Mejdrich; Politico ) Indonesia’s Lawmakers Call for Caution Over Central Bank Reform (Grace Sihombing; Bloomberg) Continue reading “News in Systemic Risk: Friday, September 18, 2020 (10 a.m. ET)”

News in Systemic Risk: Thursday, September 17, 2020 (10 a.m. ET)

September 17, 2020
ECB’s Governing Council says that exceptional circumstances justify leverage ratio relief (European Central Bank ) Special Drawing Rights back on the agenda during the coronavirus pandemic (Riksbank) Flying blind: What do investors really know about climate change risks in the U.S. equity and municipal debt markets? (Parker Bolstad, Sadie Frank, Eric Gesick, David G. Victor; Brookings Institution ) Extracting implicit country weights in the ECB’s monetary policy (Márcia Pereira, José Tavares; VoxEU) BOE Steps Up Negative Rates Work as Threats to Economy Multiply (David Goodman, Fergal O'Brien; Bloomberg) EU sets out new attempt to deepen capital market: document (Reuters) Continue reading “News in Systemic Risk: Thursday, September 17, 2020 (10 a.m. ET)”

News in Systemic Risk: Wednesday, September 16, 2020 (10 a.m. ET)

September 16, 2020
A Supplement To China Monetary Policy Report--Promoting LPR Reform Orderly (The People's Bank of China) Ministry of Finance issues Renminbi Sovereign Bonds through Central Moneymarkets Unit of Hong Kong Monetary Authority (Hong Kong Monetary Authority ) Lessons learned from the world’s first CBDC (Aleksi Grym; Bank of Finland) South Africa’s ANC Stalls Plan to Nationalize Central Bank (Michael Cohen; Bloomberg) Continue reading “News in Systemic Risk: Wednesday, September 16, 2020 (10 a.m. ET)”

News in Systemic Risk: Tuesday, September 15, 2020 (10 a.m. ET)

September 15, 2020
Quarterly Review: Markets rise despite subdued economic recovery (Bank of International Settlements) Review of the Federal Reserve’s monetary policy strategy: main aspects and impact on the financial markets (Banco de España) Riksbank’s USD loans extended (Riksbank) Interest rate pegs and the reversal puzzle: On the role of anticipation  (Rafael Gerke, Sebastian Giesen, Daniel Kienzler; Deutche Bundesbank) Monetary Policy Surprises and Exchange Rate Behavior (Refet S. Gürkaynak, A. Hakan Kara, Burçin Kısacıkoğlu, Sang Seok Lee; National Bureau of Economic Research) Continue reading “News in Systemic Risk: Tuesday, September 15, 2020 (10 a.m. ET)”