Systemic risk
IMF officials warn cyber risks are growing
Systemic and third-party cyber risks pose threats to central banks and firms
BoE and FCA set out plan to oversee ‘critical third parties’
Regulators fear growing reliance on outsourced services could threaten financial stability
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
Balance sheet data can help gauge systemic risk, ECB paper says
Researchers present methodology for assessing large and small lenders based on SRisk measure
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Non-banks taking on significant ‘hidden leverage’, FSB warns
Off-balance-sheet positions have grown, but data on many parts of the system is poor
Generative AI has ‘broad systemic implications’ – IMF
Economists argue regulators need to take action now to mitigate risks
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops
Bank resolutions averaged 1.8 cases in last decade – central banks
Lower-middle income countries report higher mean number of resolutions
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Credit Suisse collapse triggered eurozone contagion – ECB’s Enria
Enria says some kinds of contagion were more dangerous than others as Swiss G-Sib collapsed
What are the systemic lessons of SVB?
Philip Turner says the collapse of SVB reveals deeper issues than many have realised
China to overhaul financial regulatory system
Proposed changes reduce the PBoC’s role in financial oversight
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Proportionality in bank regulation: striking the right balance
The ‘final’ Basel III framework contains elements designed to make the rules fairer while reducing regulatory arbitrage. This means careful analysis is required when making any proportionality adjustments in the EU single rule book, writes Maurizio…
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…