Central banks
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
El-Erian on Covid-19 policy risks and ‘zombie’ markets
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
FSB outlines 10-point plan for stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
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
Fed extends dollar funding to more central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
FX vol revived by Covid-19 – but for how long?
Traders split on whether virus impact or central bank responses will prove most powerful
Coronavirus jolts FX options market
Analysis of transaction data shows record notional volumes for some G10 pairs
ECB and BoJ point to major problem in DLT-based payments
Project Stella report says central source of information could create single point of failure
Brainard: US must review payments system oversight
Big tech’s currency plans could weaken payments oversight – senior Fed official
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Cambodia’s blockchain payment network will go live in early 2020
Bakong could be linked with other Asean countries as cross-border transfers are part of project’s next phase
Stablecoin threat to monetary sovereignty – WEF panel
Panellists discuss delicate balance needed between private and public sector regarding digital money
Emerging market central banks keener to issue CBDCs – BIS
BIS survey shows central banks shifting emphasis from wholesale to retail CBDCs
HK and Thailand launch next phase of cross-border CBDC project
CBDC-based payments can cut costs and boost speed, HKMA and Bank of Thailand study shows
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and BIS will explore use cases and share knowledge
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six
Iceland boosts reserves despite volatility in 2019
Central bank carried out FX interventions to offset “abrupt weakening” of krona
Chile unexpectedly halts FX interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
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
PBoC signs Laos currency settlement agreement
Deal comes as Chinese authorities push for greater global use of renminbi
RBA: stablecoins must wait until framework in place
Australian central bank says it may step up CBDC research efforts this year
Bank of Thailand grapples with baht appreciation
Central bank relaxes FX regulations and cuts rates as baht hits six-year high
ECB paper offers tiering solution to CBDC structural concerns
Separating CBDC functions could disincentivise use during crisis, but disintermediation of banking sector still a risk
Bahamas rolls out first phase of CBDC pilot
Pilot will extend to rest of country after June, says governor Rolle, depending on Exuma and Abaco case studies