INTERNATIONAL

Big Picture

Taken Too Far, Banking Policy Relaxations Could Backfire

By Manesh Samtani | 16/04/2020

In a new paper, the BIS’s Fernando Restoy and Claudio Borio offer three important principles to guide the assessment of Covid-19 related policy adjustments.

Big Picture

Fintech Risks Could Undermine Financial Inclusion

By Editors | 16/04/2020

The CPMI and World Bank have set out key actions to help stakeholders address fintech risks in the context of achieving financial inclusion outcomes.

Market Infrastructure

ISDA to Add Pre-cessation Trigger to LIBOR Fallback Provisions

By Editors | 16/04/2020

A significant majority of respondents favour including both pre-cessation and permanent cessation fallbacks as standard language in the amended 2006 ISDA Definitions for LIBOR.

The ‘Great Lockdown’, A Crisis Like No Other: IMF

By Manesh Samtani | 15/04/2020

The IMF estimates the cumulative loss to global GDP over 2020 and 2021 to be around $9tr, which is greater than the economies of Japan and Germany combined.

G20 Agrees to Suspend Debt Payments for Low Income Nations

By Editors | 15/04/2020

The G20 is also calling on private creditors, working through the Institute of International Finance, to participate in the initiative “on comparable terms”.

Big Picture

Hedge Funds Have Sufficient Liquidity, Low Leverage: IOSCO

By Editors | 15/04/2020

Hedge funds were found to have sufficient portfolio liquidity to meet investor redemption demands under normal market conditions, based on end-September 2018 data.

ESG / Sustainability

IOSCO Forms Task Force to Address Sustainable Finance Issues

By Editors | 15/04/2020

The Task Force will work on sustainability and ESG disclosure challenges for investors, including to enhance transparency and address investor protection issues.

G7 Nations Back Debt Relief for Vulnerable Emerging Markets

By Editors | 14/04/2020

The G7 has declared its support for a temporary suspension of debt service payments due on official bilateral claims for all countries eligible for World Bank concessional financing.

Market Infrastructure

FSB Updates G20 on Coordinated Response to Covid-19

By Editors | 14/04/2020

Since mid-March, FSB members have reported about 850 discrete actions to address the financial and economic fallout related to Covid-19.