BIS
Paper
Carry trades amplify exchange rate response to policy tightening
A new BIS Bulletin finds that currency carry trade activity can significantly shape the exchange rate response to monetary policy.
AI Paper Curation
SARB
Paper
Survey priming modestly influences inflation expectations
A South African Reserve Bank working paper evaluates the impact of providing historical inflation data ("priming") on survey respondents' inflation expectations.
BIS
Paper
Fiscal transfers fueled post-pandemic inflation, study finds
A new BIS working paper assesses the inflationary effects of fiscal transfers using a novel time-varying structural vector autoregression.
ECB
Paper
Physical climate risk raises bank credit risk, alters lending
A new ECB working paper finds that physical climate risk from floods persistently increases bank credit risk and temporarily alters lending activity.
ECB
Paper
Q-learning, LLM investors pose new financial stability risks
A new ECB working paper finds that artificial intelligence investor behavior fundamentally alters financial fragility.
BIS
Paper
RBNZ
Paper
Financial system resilient amid heightened global risks
The Reserve Bank of New Zealand's latest Financial Stability Report finds the country's financial system resilient despite heightened global risks.
FSB
Paper
FSB flags rising vulnerabilities in private credit market
The Financial Stability Board (FSB) warns of growing vulnerabilities in the rapidly expanding private credit market.
ECB
Paper
Proposals to strengthen non-bank financial regulation
The European Central Bank's Financial Stability Committee task force proposes strengthening macroprudential regulation for non-bank financial intermediation.
BIS
Paper
ESRB paper clusters funds, flags LDI leverage and liquidity
An ESRB Occasional Paper introduces a clustering method for investment funds, identifying 12 distinct cohorts from over 10,000 alternative investment funds.
BIS
Paper
CHNV program reduces unauthorized immigration, study finds
A new working paper from the Federal Reserve Bank of Dallas indicates that the CHNV humanitarian parole program had mixed effects on unauthorized immigration.
ECB
Paper
ECB cyber stress tests boost bank investment by 80 percent
The European Central Bank's 2024 Cyber Resilience Stress Test (CyRST) significantly increased cybersecurity investment among 'laggard' European banks.