Central banks
Fed vs Fed: central bank faces traps of its own making
Fed’s balance sheet normalisation goal set to collide with its banking system resilience aims
Basel liquidity rules block Fed’s QE exit
LCR and NSFR could produce $1 trillion shortfall in plans for balance-sheet ‘normalisation’
European legislators to exempt CCPs from new bank rules
Support in Council and Parliament suggests leverage ratio, NSFR exemptions will be in final text
QE unwind won’t spur volatility, say quants
Bond-buying schemes have “almost zero” link to volatility of stocks, says Wolfe Research
Volatility trap: how gamma roused a market monster
Rates market is exposed to some of the same factors that caused equity volatility to explode in February
The threat of privacy
This paper is the text of a keynote address by Charles M. Kahn, presented at the Financial Market Infrastructure Conference II: New Thinking in a New Era.
Ex-Fed trader Coffey on macro risks and VAR
Myopic models are creating feedback loops, warns founder of new macro firm Avoca
‘We’re being fed a line’: investors vexed by central bank influence
Buy-siders say central bank communications policies broke link between markets and political risk
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
London likely to lose all euro repo clearing business
Fear of post-Brexit curbs on clearing and netting concerns propel shift to eurozone
Operational excellence is what the public deserves
Public sector institutions must learn from best practice in the private sector
Network theory takes root in post-crisis financial markets
Developments since 2008 open up exciting possibilities, says Kimmo Soramäki
CRO says NY Fed faces same op risks as commercial banks
“The predominant risks the bank faces have shifted since the end of the financial crisis,” says Rosenberg
Time to get back to the real business of stress testing?
Bank supervisors should focus on improving internal stress-testing all year round
China allows central banks to trade forex derivatives onshore
Asian nation takes another step towards renminbi liberalisation
Banknote printing in a less-cash society: innovate or not?
Leo Van Hove investigates a less-cash society from the perspective of a central bank
Q&A: BoJ's Nakaso on QE, JGB liquidity and Basel III
Coherence of new Basel rules needs study, says BoJ deputy governor
China opens interbank bond market to foreign central banks
Move is among most significant towards renminbi liberalisation since QFII, says StanChart
More central banks should oversee financial stability – Zeti
Malaysia central bank chief urges giving peers greater regulatory powers
BIS says central banks should prepare for market-making in crises
Central banks could consider direct interventions in critical markets
Focus on risk culture is ‘remaking’ the banking system
Banks and regulators face new risk culture challenges