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One of the main mechanisms of azole resistance of Aspergillus fumigatus is thought to be a reduction in the drug’s affinity for the target molecule, Cyp51A, due to its amino acid mutation(s). It is known that the azole resistance pattern is closely related to the mutation site(s) of the molecule. In this study, we tried to develop a simple and rapid detection method for cyp51A mutations using the endonuclease Surveyor nuclease. The Surveyor nuclease assay was verified using several azole-resistant strains of A. fumigatus that possess point mutations in Cyp51A. For validation of the Surveyor nuclease assay, blind tests were conducted using 48 strains of A. fumigatus (17 azole-resistant and 31 azole-susceptible strains). The Surveyor nuclease assay could rapidly detect cyp51A mutations with one primer set. Also, all the tested strains harboring different cyp51A single point mutations could be clearly distinguished from the wild type. The Surveyor nuclease assay is a simple method that can detect cyp51A mutations rapidly.

This report outlines the progress made by banks in implementing the Basel Committee's Principles for effective risk data aggregation and risk reporting ("the Principles" or "BCBS 239")1 based on supervisors' assessments conducted in 2019.

FSI Briefs No 5, April 2020. In response to the Covid-19 pandemic, governments have launched guarantee programmes to support bank lending to companies, especially small and medium-sized enterprises. This is essential to avoid a sharp contraction in bank credit that would exacerbate the pandemic's adverse impact. The design of such programmes needs to strike a difficult balance between responding promptly to the pandemic and maintaining a sufficient level of prudence. Key features of a sample of programmes (eg target beneficiaries, coverage of the guarantee, loan terms, length of the programme) reflect this tension. Incentives were created for the banks to join these programmes by exploiting flexibility in existing prudential requirements, while central banks have often provided liquidity support. Programmes are, however, subject to operational challenges and, ultimately, fiscal capacity limits.

Introductory statement by Ms Christine Lagarde, President of the European Central Bank, and Mr Luis de Guindos, Vice-President of the European Central Bank, Frankfurt am Main, 30 April 2020.

Advanced preliminary release for Q4 2019 quarterly data on total credit to the non-financial sectors; comprising private non-financial sector and general government for 44 economies and regional aggregates have been updated. Data are available for the following borrowing subsectors: general government, private non-financial sector (series on credit from domestic banks as lending sector are also available), non-financial corporations and households. Data are presented in three versions: in billions of local currency and US dollars, and as a percentage of GDP.

Close to 300 series at various frequencies for 60 countries have been updated.

Monthly and annual data have been updated for 60 countries. The average length of the monthly series is more than to 55 years. Some annual series go back to the middle of the 19th century - or even earlier for several countries.

Advanced preliminary release for Q4 2019 quarterly data on debt service ratios (DSRs) for the private non-financial sector (PNFS) for 32 countries have been updated. DSRs for PNFS breakdown sectors, ie for households and for non-financial corporations are also available for 17 countries.

BCBS Press release "Basel Committee publishes stocktake report on climate-related financial risk initiatives'", 30 April 2020

This report summarises the main results of a stocktake conducted by the Basel Committee of its members' initiatives on climate-related financial risks.

Remarks by Mr Stephen S Poloz, Governor of the Bank of Canada, at the Ivey Business School, London, Ontario, 30 April 2020.

We develop a parsimonious model to study the effect of regulations aimed at reducing counterparty risk on the structure of over-the-counter securities markets. We find that such regulations promote entry of dealers, thus fostering competition and lowering spreads. Greater competition, however, has an indirect negative effect on market-making profitability.

Banks globally entered the Covid-19 crisis with roughly US$ 5 trillion of capital above their Pillar 1 regulatory requirements. The amount of additional lending will depend on how hard banks' capital is hit by the crisis, on their willingness to use the buffers and on other policy support. In an adverse stress scenario such as the savings and loan crisis, banks' usable buffers would decline to US$ 800 billion, which could support US$ 5 trillion of additional loans (6% of total loans outstanding). Yet in a severely adverse scenario, similar to the Great Financial Crisis, the corresponding figures would be only US$ 270 billion and US$ 1 trillion (1.3% of total loans).

Introductory remarks (by videoconference) by Mr Luis de Guindos, Vice-President of the European Central Bank, to the Committee on Economic and Monetary Affairs of the European Parliament, Frankfurt am Main, 7 May 2020.

Daily data on exchange rates against the US dollar have been updated. This covers 81 economies with the earliest data starting in 1949.

Daily data on monetary policy rates have been updated. This covers 38 central banks with the earliest data starting in 1946.

Opening remarks by Ms Christine Lagarde, President of the European Central Bank, at the Online Edition of The State of the Union conference organised by the European University Institute, 8 May 2020.

Are financial intermediaries inherently unstable and, if so, why? To address this, we analyse whether model economies with financial intermediation are particularly prone to multiple, cyclic or stochastic equilibria.

Long-term interest rates have remained low despite a surge in the issuance of sovereign debt to mitigate the economic impact of the pandemic.

Inflation pressure could be weak even after consumer demand for non-discretionary goods and services begins to grow as the economy gets back on its feet.

At a time of conflicting narratives, a range of markets from equities to energy to gold may persist in volatility until one narrative gains the upper hand.

Equities are likely to keep trading in volatile ranges until the many conflicting narratives in the market give way to a singular message for investors.

Information technology, health care, and consumer discretionary stocks that outperformed in the last decade have done well in the first four months of 2020.

See volume, open interest, and other trading highlights for Fertilizer swaps and futures markets offered by CME Group.

Gold and silver prices often move in tandem, but the gap between them widened by 31% January through April in line with a trend that began nine years ago.

A look at support and regenerative policy initiatives by the Federal Reserve and the Government as more than 20 million jobs were lost in April 2020.

Bank of Italy Working Papers by Giorgio Albareto, Andrea Cardillo, Andrea Hamaui and Giuseppe Marinelli

Bank of Italy Working Papers by Concetta Rondinelli and Roberta Zizza

Bank of Italy Working Papers by Luca Metelli, Filippo Natoli and Luca Rossi

Bank of Italy Working Papers by Eleonora Porreca and Alfonso Rosolia

Bank for International Settlements BIS Working Papers by David Cook and Nikhil Patel

Bank for International Settlements BIS Working Papers by Claudio Borio, Marc Farag and Nikola Tarashev

Bank of Finland Research Discussion Papers by Gene Ambrocio

Bank of Finland Research Discussion Papers by Eleonora Granziera and Markus Sihvonen

Bank of England Working Papers by Aydan Dogan and Ida Hjortsoe

Bank of England Working Papers by Cristiano Cantore and Lukas Freund

Bank of England Working Papers by Cristiano Cantore, Filippo Ferroni and Miguel León-Ledesma

Bank of England Working Papers by Nicola Garbarino and Benjamin Guin

Netherlands Bank DNB Occasional Studies by Peter Wierts and Harro Boven

Bank for International Settlements BIS Working Papers by Francesca Carapella and Cyril Monnet

European Central Bank Working Papers by Marien Ferdinandusse, Maximilian Freier and Annukka Ristiniemi

European Systemic Risk Board Occasional Papers by Greg Ros

Bank of Spain Working Papers by Henrique S. Basso and Juan F. Jimeno

European Central Bank Working Papers by Fabian Eser, Peter Karadi, Philip R. Lane, Laura Moretti and Chiara Osbat

Central Bank of Chile Working Papers by Andrés Sagner

Central Bank of Chile Working Papers by Carlos Madeira

Central Bank of Chile Working Papers by Benjamín García and Juan Guerra-Salas

Central Bank of Chile Working Papers by Tomás Gómez, Alejandro Jara and David Moreno