The Institute of International Finance is the global association of the financial industry, with close to 450 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.
Stretching out policy support; U.S. banks build up holdings of domestic government debt—potential liquidity risk?; Higher U.S. budget deficits will keep net borrowing needs at high levels; Less foreign demand for Treasuries—though domestic demand has remained solid
A decade of loose G-3 monetary policy drove a wall of money to EM, and large positioning overhangs may have built up in certain EMs. We have unveiled a new database on EM real money positioning. South Africa and Brazil look most over- and under-positioned. We begin to add bank-intermediated flows to our database, which comove with real money flows in Turkey and Argentina. The EM positioning overhang may be greater than initially assumed.
The crypto industry moves into the new year reshaped by a tumultuous 2018. Despite ongoing regulatory and technical challenges, the underlying technology and crypto-based applications continue to move slowly towards mainstream adoption, as evidenced by recent private and official sector activity.
Elisabeth Rhyne (CFI) joins FRT to discuss the positive impacts digital customer journeys can have on underserved segments and financial institutions (Conan French, Amin Khairy).
We have unveiled a new database on EM real money positioning. We begin to add bank-intermediated flows to our database, which comove with real money flows in Turkey and Argentina. The EM positioning overhang may be greater than initially assumed.
Venezuela’s GDP decline is nearly unprecedented, as is the collapse of oil output, its main export. The initial impact of US sanctions was manageable, but history suggests they will have severe effects. Recoveries from oil output collapses tend to be fast, making higher oil revenue feasible if policies change.
The March 2019 IIF Global Regulatory Update provides updates on the Financial Stability Board, current work streams in Regulatory Capital, Recovery and Resolution, Cyber Security, Digital Finance, Sustainable Finance, Insurance and upcoming events.
Since submitting the industry response letter for consultation the Discussion Paper (DP): “Financial resources to support CCP equity in resolution", the industry working group has also developed an Incentives Analysis of recovery and resolution tools.
The industry comment letter was submitted to the BCBS on March 14.
The Financial Stability Board (FSB) published its report FinTech and market structure in financial services: Market developments and potential financial stability implications on February 14, and the IIF is pleased to provide some comments.
This paper proposes some alternate ways of achieving the desired public policy goals, within a framework of international cooperation that facilitates data flows across borders.
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