Cryptoeconomics: Financial stability https://cryptoeconomics.com/topics/financial-stability/ Coverage filed to the Financial stability desk. en © 2026 Cryptoeconomics Sat, 25 Jul 2026 09:00:00 GMT BIS Annual Economic Report concludes stablecoins fail key tests of money and flags emerging-market risks https://cryptoeconomics.com/news/bis-annual-report-2026-stablecoin-assessment/ https://cryptoeconomics.com/news/bis-annual-report-2026-stablecoin-assessment/ Sat, 25 Jul 2026 09:00:00 GMT The Bank for International Settlements published the money and payments chapter of its 2026 Annual Economic Report on 23 June 2026, arguing that stablecoins fall short on singleness, elasticity and integrity of money. The chapter warns that dollar stablecoin adoption can accelerate dollarization and erode capital controls in emerging markets. Stablecoins Financial stability Currency & FX Africa & emerging markets Bank for International Settlements: Annual Economic Report 2026, Chapter III Bank of England publishes draft rules for systemic stablecoin issuers with a £40bn issuance cap https://cryptoeconomics.com/news/boe-fca-systemic-stablecoin-draft-rules/ https://cryptoeconomics.com/news/boe-fca-systemic-stablecoin-draft-rules/ Sat, 25 Jul 2026 09:00:00 GMT On 22 June 2026 the Bank of England published a policy statement and draft Code of Practice for sterling systemic stablecoin issuers, dropping proposed individual holding limits in favour of a temporary £40bn cap per issuance. Issuers may hold up to 70% of backing assets in short-term UK government debt, with the remainder in unremunerated central bank deposits. Regulation Stablecoins Financial stability Bank of England IMF urges Nigeria to bring stablecoins under stronger regulation after 2026 Article IV consultation https://cryptoeconomics.com/news/imf-nigeria-2026-article-iv-stablecoins/ https://cryptoeconomics.com/news/imf-nigeria-2026-article-iv-stablecoins/ Sat, 25 Jul 2026 09:00:00 GMT The IMF Executive Board concluded its 2026 Article IV consultation with Nigeria on 9 June 2026 and identified stablecoin oversight as a priority. A follow-up IMF country note published on 16 June described stablecoins as a growing cross-border payment channel in Nigeria. Africa & emerging markets Stablecoins Financial stability Currency & FX International Monetary Fund ECB study finds tokenised bonds lowered borrowing costs but not operational costs https://cryptoeconomics.com/news/ecb-macroprudential-bulletin-tokenised-bonds/ https://cryptoeconomics.com/news/ecb-macroprudential-bulletin-tokenised-bonds/ Sat, 25 Jul 2026 09:00:00 GMT The European Central Bank published a study of the tokenised bond market in Issue 33 of its Macroprudential Bulletin on 13 April 2026, comparing matched samples of tokenised and conventional European corporate bonds. It found tokenised issues reduced borrowing costs and improved secondary market liquidity, with no visible reduction in operational costs. Tokenized capital markets Financial stability Clearing & settlement ECB Macroprudential Bulletin Issue 33: Tokenised bonds: assessing efficiency and liquidity in a nascent market IMF working paper measures stablecoin inflows and spillovers to foreign exchange markets https://cryptoeconomics.com/news/imf-stablecoin-fx-spillovers-working-paper/ https://cryptoeconomics.com/news/imf-stablecoin-fx-spillovers-working-paper/ Sat, 25 Jul 2026 09:00:00 GMT An IMF working paper published on 27 March 2026 examined cross-border stablecoin flows and their effects on emerging-market foreign exchange rates. It found that dollar stablecoin inflows correspond to periods of currency pressure and can accelerate capital outflows during stress, and noted that cross-border stablecoin flows now exceed Bitcoin and Ether flows. Currency & FX Stablecoins Financial stability Africa & emerging markets IMF Working Paper 2026/056: Stablecoin inflows and spillovers to FX markets