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Posts by Systemic Risk News

News in Systemic Risk: Friday, August 7 (10 a.m. ET)

August 7, 2020
Securing Secured Finance: The Term Asset-Backed Securities Loan Facility (Elizabeth Caviness, Asani Sarkar ; Federal Reserve Bank of New York) Federal Reserve announces details of new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States (Federal Reserve Board of Governors) COVID-19 Response in Emerging Market Economies: Conventional Policies and Beyond (Martin Mühleisen, Tryggvi Gudmundsson, Hélène Poirson Ward; International Monetary Fund) Capital market regulation and coronavirus (Mark Steward; Financial Conduct Authority) Countercyclical capital requirement reductions, state dependence and macroeconomic outcomes (Elif C. Arbatli-Saxegaard, Ragnar E. Juelsrud; Norges Bank) Continue reading “News in Systemic Risk: Friday, August 7 (10 a.m. ET)”

News in Systemic Risk: Thursday, August 6 (10 a.m. ET)

August 6, 2020
Basel Committee releases consultative documents on principles for operational risk and operational resilience (Bank for International Settlements) Note on Financial Stability and Supervision (Bank of Italy) Introduction of Automated Sweep-In and Sweep-Out (ASISO) Facility for end of the day LAF Operations (Reserve Bank of India) Covid-19 challenges IMF debt-restructuring framework (Central Banking) Crapo floats expanded emergency lending, relaxed bank capital rules (Zachary Warmbrodt; PoliticoPro) Interest rates, market power, and financial stability (David Martinez-Miera, Rafael Repullo; VoxEu) Continue reading “News in Systemic Risk: Thursday, August 6 (10 a.m. ET)”

News in Systemic Risk: Wednesday, August 5 (10 a.m. ET)

August 5, 2020
Central banks and financial stability: A reflection after the Covid-19 outbreak (Fernando Restoy; Bank for International Settlements) Global Imbalances and the COVID-19 Crisis (Martin Kaufman, Daniel Leigh,; International Monetary Fund) The coronavirus crisis and ECB Banking Supervision: taking stock and looking ahead (Andrea Enria; European Central Bank) Hutchins Center Fiscal Impact Measure (Brookings Institution) Europe’s financial system structures transformed by EU policies, Brexit, and COVID-19 (Nicolas Véron, Thomas Wieser, Simeon Djankov; Peterson Institute for International Economics) How will Covid-19 hit central banks’ financial results? (Zbigniew Polański, Mikołaj Szadkowski; Central Banking) Continue reading “News in Systemic Risk: Wednesday, August 5 (10 a.m. ET)”

News in Systemic Risk: Tuesday, August 4 (10 a.m. ET)

August 4, 2020
Claudia Buch: ‘We need higher transparency’ on resolution (Daniel Hinge; Central Banking) Time inconsistency in recent monetary policy (Charles Goodhart, Tatjana Schulze, Dimitri Tsomocos; VoxEu) Argentina Agrees to $65 Billion Restructuring Deal With Bondholders (Ryan Dube, Andrew Scurria; Wall Street Journal ) Covid Supercharges Federal Reserve as Backup Lender to the World (Serena Ng, Nick Timiraos; Wall Street Journal  Continue reading “News in Systemic Risk: Tuesday, August 4 (10 a.m. ET)”

News in Systemic Risk: Monday, August 3 (10 a.m. ET)

August 3, 2020
The Federal Reserve’s Large-Scale Repo Program (Kevin Clark, Antoine Martin, and Tim Wessel ; Federal Reserve Bank of New York) The Reserve Bank's Operations – Liquidity, Market Function and Funding (Christopher Kent; Reserve Bank of Australia) Japan's Economy and Monetary Policy (Amamiya Masayoshi; Bank of Japan) How to prevent the looming sovereign debt crisis (Joseph Stiglitz, Hamid Rashid; VoxEu) Fed Weighs Abandoning Pre-Emptive Rate Moves to Curb Inflation (Nick Timiraos; Wall Street Journal) Ex-BoE deputy governor fears ‘utter mayhem’ from clearing house reform (Laura Noonan, Philip Stafford; Financial Times) Has India’s moratorium on loan payments delayed the pain for banks? (The Economist) Continue reading “News in Systemic Risk: Monday, August 3 (10 a.m. ET)”

News in Systemic Risk: Friday, July 31, 2020 (10 a.m. ET)

July 31, 2020
Statement By the Systemic Risk Council Addressed to the Chairman, Financial Stability Board, Bank for International Settlements on CCP Resolution (Paul Tucker; Systemic Risk Council) Transparency Makes Central Banks More Effective and Trusted (Tobias Adrian, Ghiath Shabsigh, and Ashraf Khan; International Monetary Fund) Forbearance Patterns in the Post-Crisis Period (Katharina Bergant; International Monetary Fund) UN says rival Libyan central banks will be audited (Central Banking) Cross-border payment systems have been neglected for too long (Jon Cunliffe; Bank for International Settlements) PRA updates guidance on capital management for banks and insurers (Australian Prudential Regulation Authority) Climate change concern drives resistance to Labor pension fund proposal (Zack Colman; PoliticoPro) U.S. Economy Contracted at Record Rate Last Quarter; Jobless Claims Rise to 1.43 Million (Harriet Torry; Wall Street Journal) Continue reading “News in Systemic Risk: Friday, July 31, 2020 (10 a.m. ET)”

News in Systemic Risk: Thursday, July 30, 2020 (10 a.m. ET)

July 30, 2020
Federal Reserve issues FOMC statement (Federal Reserve Board of Governors) Federal Reserve Board announces the extensions of its temporary U.S. dollar liquidity swap lines and the temporary repurchase agreement facility for foreign and international monetary authorities (FIMA repo facility) through March 31, 2021 (Federal Reserve Board of Governors) The impact of the ECB’s monetary policy measures taken in response to the COVID-19 crisis (John Hutchinson, Simon Mee; European Central Bank) Drivers of firms’ loan demand in the euro area – what has changed during the COVID-19 pandemic? (Matteo Falagiarda, Petra Köhler-Ulbrich, Eduardo Maqui; European Central Bank) Using the Federal Reserve’s discount window for debtor-in-possession financing during the COVID-19 bankruptcy crisis (Peter Conti-Brown and David Skeel; Brookings Institution) Watchdog sees 'widespread' fraud in SBA aid program (Zachary Warmbrodt; PoliticoPro) Continue reading “News in Systemic Risk: Thursday, July 30, 2020 (10 a.m. ET)”

News in Systemic Risk: Wednesday, July 29, 2020 (10 a.m. ET)

July 29, 2020
FSB publishes peer review on macroprudential policy framework and tools in Germany (Financial Stability Board) Euro area banking sector resilient to stress caused by coronavirus, ECB analysis shows (European Central Bank) European banking needs a Big Bang (Axel Weber; Financial Times) Impact of Conflict and Political Instability on Banking Crises in Developing Economies (Montford Mlachila, Rasmane Ouedraogo; International Monetary Fund) Timothy Lane on CBDCs and why the private sector is no competition for central banks (Rachael King; Central Banking) Europe’s Banks Told to Hold Off on Dividends (Patricia Kowsmann; Wall Street Journal) Continue reading “News in Systemic Risk: Wednesday, July 29, 2020 (10 a.m. ET)”

News in Systemic Risk: Tuesday, July 28, 2020 (10 a.m. ET)

July 28, 2020
Federal Reserve Board announces an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30 (Federal Reserve Board of Governors) Strains in Offshore US Dollar Funding during the COVID-19 Crisis : Some Observations (Adolfo Barajas, Andrea Deghi, Salih Fendoglu, Yizhi Xu; International Monetary Fund) "Quick Response" Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending (Jianwei Xing, Eric Zou, Zhentao Yin, Yong Wang; National Bureau of Economic Research) A possible IMF Pandemic Support Facility for emerging-market countries (Matthew Fisher, Adnan Mazarei; Peterson Institute for International Economics) GOP Releases Coronavirus Relief Proposal After Delay (Andrew Duehren; Wall Street Journal) EU fund managers back fee changes to Mifid II trading rules (Philip Stafford; Financial Times) Continue reading “News in Systemic Risk: Tuesday, July 28, 2020 (10 a.m. ET)”