Macro-prudential policy
RBNZ welcomes reformed governance framework
Overhaul of the central bank law paves way for new decision-making body
RBNZ to tighten loan limits as house prices continue to rise
Tougher loan-to-value limits could be followed by rate floors or debt service limits
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Macro-pru can help avoid ‘reversal interest rate’ – Bundesbank paper
Use of capital ratios can aid eurozone monetary policy, researchers say
Communications Benchmarks 2021 report – making connections
Data offers insights into staffing and salaries, communications channels, social media, new technology and strategies
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
BoE removes ‘guardrails’ on bank dividend payments
Central bank eases restrictions as outlook for UK financial sector improves
ECB paper investigates macro-pru’s impact on inequality
More research is needed on how borrower-based measures affect income inequality, researchers say
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Rising spillover risks from macro-prudential policies
Tools used to restrict credit in specific sectors can increase the riskiness of credit in other areas, creating challenges in the use of household-specific and corporate credit-calming measures, write Lucyna Górnicka and Apoorv Bhargava
Bank of Italy paper uses agent-based model of housing market
Limits on borrowing are effective but not currently needed for Italian housing sector
People: Sam Woods reappointed; Fernanda Nechio returns to SF Fed
BoE deputy gets fresh term; Nechio to lead regional Fed’s sustainability research; and more
Shadow banking changes macro-prudential trade-offs – BdF paper
Presence of non-banks increases importance of dynamic capital ratios, researcher argues
RBNZ gains tool to curb house price rises
Government approves debt-to-income limits to address hot housing market
NGFS has ‘momentum’, but faces obstacles – Després
Lack of data and frameworks hamper climate mitigation, says Banque de France official
Transparency is essential for financial stability – Georgia’s Gvenetadze
But it is still possible to be “too transparent”, governor warns
PBoC to score largest banks’ green finance efforts
Chinese central bank aims to spur growth in environmental investing
Leverage ratios fall for most US bank categories
Kansas City Fed report finds G-Sibs increased capital buffers, mainly due to SLR exemption
Bank of Canada voices concern over house prices
Financial regulator imposes minimum rate on new uninsured mortgages
Brainard questions Fed approval of bank merger
Fed approves PNC purchase of BBVA USA, while Brainard warns of “weakened” safeguards
Danish central bank urges use of payments data in forecasts
Data provides good forecasts during normal times, but deteriorates in stressed conditions
Asset managers should face minimum cash levels – ECB paper
Researchers say macro-prudential measure would improve market allocation of financial resources
BoE paper highlights link between mortgage limits and consumption
Authors find “new link” between down payment requirements and household consumption
Central banks have limited tools to tackle inequality – Carstens
Inequality is an issue for central bankers, but they cannot solve it on their own, says BIS chief