Yale School of Management

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News in Systemic Risk: Friday, May 22, 2020

May 22, 2020
Africa's Hour of Need (Abebe Aemro Selassie; International Monetary Fund) Dealing with Covid-19: understanding the policy choices (Frederic Boissay, Daniel Rees, Phurichai Rungcharoenkitkul; Bank for International Settlements) What Do Financial Conditions Tell Us about Risks to GDP Growth? (Patrick Adams, Tobias Adrian, Nina Boyarchenko, Domenico Giannone, Nellie Liang, Eric Qian; Federal Reserve Bank of New York) A shadow rate without a lower bound constraint (Rafael B. De Rezende, Annukka Ristiniemi; Bank of England) The global effects of global risk and uncertainty (Dario Bonciani, Martino Ricci; Bank of England) The vanishing interest income of Chinese banks as an indicator of loan quality problems (Karlo Kauko; VoxEU) Europe in the time of Covid-19: A new eBook (Agnès Bénassy-Quéré, Beatrice Weder di Mauro; VoxEU) Argentina Braces for Ninth Default (Patrick Gillespie, Jorgelina Do Rosario; Bloomberg) Continue reading “News in Systemic Risk: Friday, May 22, 2020”

News in Systemic Risk: Thursday, May 21, 2020

May 21, 2020
Venezuela sues Bank of England over refusal to release gold (Victor Mendez-Barreira; CentralBanking) Mnuchin Says 'Strong Likelihood' for More Virus Spending (Saleha Mohsin; Bloomberg) COVID-19: The Regulatory and Supervisory Implications for the Banking Sector: A Joint IMF-World Bank Staff Position Note (International Monetary Fund, World Bank) The Effect of Bank Monitoring on Loan Repayment (Nicola Branzoli, Fulvia Fringuellotti; Federal Reserve Bank of New York) Adjusting monetary policy rules for temporary layoffs from COVID-19 (Christopher G. Collins, Simon Potter; Peterson Institute for International Economics) COVID-19's reality shock for emerging economies: Solutions to deal with dependence on external funding (Alicia Garcia-Herrero, Elina Ribakova; VoxEU) The Main Street Lending Program and Other Federal Reserve Actions (Eric S. Rosengren; Federal Reserve Bank of Boston) U.S. Economic Outlook and Monetary Policy (Richard H. Clarida; Federal Reserve Board of Governors) Continue reading “News in Systemic Risk: Thursday, May 21, 2020”

News in Systemic Risk: Wednesday, May 20, 2020

May 20, 2020
EME bond portfolio flows and long-term interest rates during the COVID-19 pandemic (Peter Hördahl, Ilhyock Shim; Bank for International Settlements) The drivers of cyber risk (Iñaki Aldasoro, Leonardo Gambacorta, Paolo Giudici, Thomas Leach; Bank for International Settlements) EBA publishes Report on interlinkages between recovery and resolution planning (European Banking Authority) Equity Financing Risk (Mamdouh Medhat, Berardino Palazzo; Federal Reserve Board of Governors) Corona pandemic increasing risks to financial stability (Sveriges Riksbank) Post-COVID: Dealing with the emerging market debt overhang (Kevin Daly, Tadas Gedminas, Clemens Grafe; VoxEU) Fed Discussed Plans to Provide More Economic Support (Nick Timiraos; Wall Street Journal) Fed Worries Turned to Financial Stability in April Meeting (Christopher Condon, Rich Miller; Bloomberg) Continue reading “News in Systemic Risk: Wednesday, May 20, 2020”

News in Systemic Risk: Tuesday, May 19, 2020

May 19, 2020
Financial crime in times of Covid-19 - AML and cyber resilience measures (Juan Carlos Crisanto, Jermy Prenio; Bank for International Settlements) America's Zombie Companies Are Multiplying and Fueling New Risks (Lisa Lee, Michelle F. Davis; Bloomberg) Pandemic central banking: the monetary stance, market stabilisation, and liquidity (Phillip R. Lane; European Central Bank) Scenario Analysis and the Economic and Financial Risks from Climate Change (Erik Ens, Craig M.T. Johnston; Bank of Canada) Designing central bank digital currencies (Itai Agur, Anil Ari, Giovanni Dell'Ariccia; VoxEU) Coronavirus and CARES Act (Jerome Powell; Federal Reserve Board of Governors) Systemic Credit Freezes in Financial Lending Markets (Daron Acemoglu, Asuman Ozdaglar, James Siderius, Alireza Tahbaz-Salehi; NBER) Continue reading “News in Systemic Risk: Tuesday, May 19, 2020”

The Limits of the G20's Debt Service Suspension Initiative

May 18, 2020
As of May 1, G20’s Debt Service Suspension Initiative (DSSI) for 76 International Development Association (IDA) countries and least developed countries (LDCs) has become operational. However, it remains unclear whether private-sector creditors will collaborate on such efforts for those countries and the question on what to do about the much larger debts of low- and middle-income countries is still open. Continue reading “The Limits of the G20's Debt Service Suspension Initiative”

News in Systemic Risk: Monday, May 18, 2020

May 18, 2020
Financial Stability Report (Federal Reserve Board of Governors) Harvard’s Reinhart and Rogoff Say This Time Really Is Different (Simon Kennedy; Bloomberg) Macro-Financial Linkages in a Structural Model of the Irish Economy (Niall McInerney; Central Bank of Ireland) Foundations of system-wide financial stress testing with heterogeneous institutions (J Doyne Farmer, Alissa M Kleinnijenhuis, Paul Nahai-Williamson, Thom Wetzer ; Bank of England) Modeling the Global Effects of the COVID-19 Sudden Stop in Capital Flows (Ozge Akinci, Gianluca Benigno, Albert Queralto; Federal Reserve Bank of New York) House passes $3T coronavirus relief package (Heather Caygle, Sarah Ferris, John Bresnahan; PoliticoPro) Continue reading “News in Systemic Risk: Monday, May 18, 2020”

News in Systemic Risk: Friday, May 22, 2020

May 22, 2020
Africa's Hour of Need (Abebe Aemro Selassie; International Monetary Fund) Dealing with Covid-19: understanding the policy choices (Frederic Boissay, Daniel Rees, Phurichai Rungcharoenkitkul; Bank for International Settlements) What Do Financial Conditions Tell Us about Risks to GDP Growth? (Patrick Adams, Tobias Adrian, Nina Boyarchenko, Domenico Giannone, Nellie Liang, Eric Qian; Federal Reserve Bank of New York) A shadow rate without a lower bound constraint (Rafael B. De Rezende, Annukka Ristiniemi; Bank of England) The global effects of global risk and uncertainty (Dario Bonciani, Martino Ricci; Bank of England) The vanishing interest income of Chinese banks as an indicator of loan quality problems (Karlo Kauko; VoxEU) Europe in the time of Covid-19: A new eBook (Agnès Bénassy-Quéré, Beatrice Weder di Mauro; VoxEU) Argentina Braces for Ninth Default (Patrick Gillespie, Jorgelina Do Rosario; Bloomberg) Continue reading “News in Systemic Risk: Friday, May 22, 2020”

News in Systemic Risk: Thursday, May 21, 2020

May 21, 2020
Venezuela sues Bank of England over refusal to release gold (Victor Mendez-Barreira; CentralBanking) Mnuchin Says 'Strong Likelihood' for More Virus Spending (Saleha Mohsin; Bloomberg) COVID-19: The Regulatory and Supervisory Implications for the Banking Sector: A Joint IMF-World Bank Staff Position Note (International Monetary Fund, World Bank) The Effect of Bank Monitoring on Loan Repayment (Nicola Branzoli, Fulvia Fringuellotti; Federal Reserve Bank of New York) Adjusting monetary policy rules for temporary layoffs from COVID-19 (Christopher G. Collins, Simon Potter; Peterson Institute for International Economics) COVID-19's reality shock for emerging economies: Solutions to deal with dependence on external funding (Alicia Garcia-Herrero, Elina Ribakova; VoxEU) The Main Street Lending Program and Other Federal Reserve Actions (Eric S. Rosengren; Federal Reserve Bank of Boston) U.S. Economic Outlook and Monetary Policy (Richard H. Clarida; Federal Reserve Board of Governors) Continue reading “News in Systemic Risk: Thursday, May 21, 2020”

News in Systemic Risk: Wednesday, May 20, 2020

May 20, 2020
EME bond portfolio flows and long-term interest rates during the COVID-19 pandemic (Peter Hördahl, Ilhyock Shim; Bank for International Settlements) The drivers of cyber risk (Iñaki Aldasoro, Leonardo Gambacorta, Paolo Giudici, Thomas Leach; Bank for International Settlements) EBA publishes Report on interlinkages between recovery and resolution planning (European Banking Authority) Equity Financing Risk (Mamdouh Medhat, Berardino Palazzo; Federal Reserve Board of Governors) Corona pandemic increasing risks to financial stability (Sveriges Riksbank) Post-COVID: Dealing with the emerging market debt overhang (Kevin Daly, Tadas Gedminas, Clemens Grafe; VoxEU) Fed Discussed Plans to Provide More Economic Support (Nick Timiraos; Wall Street Journal) Fed Worries Turned to Financial Stability in April Meeting (Christopher Condon, Rich Miller; Bloomberg) Continue reading “News in Systemic Risk: Wednesday, May 20, 2020”

News in Systemic Risk: Tuesday, May 19, 2020

May 19, 2020
Financial crime in times of Covid-19 - AML and cyber resilience measures (Juan Carlos Crisanto, Jermy Prenio; Bank for International Settlements) America's Zombie Companies Are Multiplying and Fueling New Risks (Lisa Lee, Michelle F. Davis; Bloomberg) Pandemic central banking: the monetary stance, market stabilisation, and liquidity (Phillip R. Lane; European Central Bank) Scenario Analysis and the Economic and Financial Risks from Climate Change (Erik Ens, Craig M.T. Johnston; Bank of Canada) Designing central bank digital currencies (Itai Agur, Anil Ari, Giovanni Dell'Ariccia; VoxEU) Coronavirus and CARES Act (Jerome Powell; Federal Reserve Board of Governors) Systemic Credit Freezes in Financial Lending Markets (Daron Acemoglu, Asuman Ozdaglar, James Siderius, Alireza Tahbaz-Salehi; NBER) Continue reading “News in Systemic Risk: Tuesday, May 19, 2020”

The Limits of the G20's Debt Service Suspension Initiative

May 18, 2020
As of May 1, G20’s Debt Service Suspension Initiative (DSSI) for 76 International Development Association (IDA) countries and least developed countries (LDCs) has become operational. However, it remains unclear whether private-sector creditors will collaborate on such efforts for those countries and the question on what to do about the much larger debts of low- and middle-income countries is still open. Continue reading “The Limits of the G20's Debt Service Suspension Initiative”

News in Systemic Risk: Monday, May 18, 2020

May 18, 2020
Financial Stability Report (Federal Reserve Board of Governors) Harvard’s Reinhart and Rogoff Say This Time Really Is Different (Simon Kennedy; Bloomberg) Macro-Financial Linkages in a Structural Model of the Irish Economy (Niall McInerney; Central Bank of Ireland) Foundations of system-wide financial stress testing with heterogeneous institutions (J Doyne Farmer, Alissa M Kleinnijenhuis, Paul Nahai-Williamson, Thom Wetzer ; Bank of England) Modeling the Global Effects of the COVID-19 Sudden Stop in Capital Flows (Ozge Akinci, Gianluca Benigno, Albert Queralto; Federal Reserve Bank of New York) House passes $3T coronavirus relief package (Heather Caygle, Sarah Ferris, John Bresnahan; PoliticoPro) Continue reading “News in Systemic Risk: Monday, May 18, 2020”