Global Principles for Sustainable Securities Lending (Global PSSL) today published fully revised and updated principles for sustainable securities lending alongside invited opening signatories, available here.

Fanfare exceeds reality

Before its summer recess, the International Monetary Fund board tackled two key operational issues – future concessional support for low income countries and ‘channelling’ special drawing rights.

Last week Gary Gensler, the chair of the Securities and Exchange Commission, made what seemed like an uncontroversial statement: “I think we can bring greater clarity to climate risk disclosures.”

50 years ago, the Bretton Woods system of fixed exchange rates came to a sudden stop. It seemed the end of an era of multilateral and rules-based monetary cooperation considered critical to facilitate international payments.

In hindsight, our new economic era probably began in 2008, when a handful of bankers — and the policymakers who write the rules — broke the system.

Eighteen months into the worst pandemic in a century, we still don’t have a credible, fully financed, time bound battle plan to bring this suffering to an end.