Bank of England
Cable basis set to shrink as pension buyouts dwindle
BoE rate cuts and tightening US credit spreads expected to further normalise the sterling-US dollar cross-currency basis
BoE’s Cunliffe details ‘familiar’ failings at FTX
Deputy governor says crypto assets need to be regulated
Optimising swaps and forwards: mitigating risk and reducing all‑in cost
A forum of industry leaders discusses the rising cost of FX forwards and swaps under the standardised approach to counterparty credit risk, how vendors are adapting optimisation solutions to manage the impact of this new regime, and whether banks are…
Late EU clearing house recognition spooks dealers
Bank capital requirements on exposures to affected foreign CCPs could jump after June 28 deadline
Corporates boost FX hedges as US dollar surges
Banks see more business, but also rising exposures, from corporates’ FX decision-making
First wave of GFXC cover sheets expected December 17
Greater transparency could lead to tighter last look policies, says Bank of England FX head
BIS to operate sterling liquidity facility backed by BoE
Move echoes twentieth-century arrangements when BIS acted as intermediary in swaps network
BoE and Treasury launch CBDC task force
Central bank also forms new division to lead “internal exploration” of digital currency
BoE needs ‘better handle’ on control of UK currency
Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say
Regulators voice concerns over cloud risk
Risk USA: failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
Covid-19 could spur central bank digital currencies – BIS
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and BIS will explore use cases and share knowledge
FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown while oversight is “fragmented”, report warns
AML deadline prompts FCA to warn crypto firms
Regulator says firms must not mislead customers about regulatory status and outlines deadline for registration
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics
ECB and PBoC renew bilateral currency swap
Euro-renminbi currency swap agreement will stay in place until October 2022
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says