Resolution
RBI’s Acharya says India ‘urgently’ needs asset management company
New deputy governor says stressed assets must not be allowed to “fester”, sketching two possible designs for an asset management company
Eurozone needs ‘hard laws’ for credible resolution, economist argues
“Soft law” arrangements can break down in crises, Schoenmaker says
Ingves sees cross-border resolution lessons from Swedish crisis
Crisis in the early 1990s prompted Swedish authorities to take early action on cross-border resolution, the Riksbank governor says
FSB issues draft guidance on CCP resolution
Regulators’ powers should include “bail-in” and “full tear-ups”, FSB recommends; regulators should have resolution plans for all systemically important CCPs, including cross-border provisions
Bank of Italy sells off three ‘good banks’ for €1
UBI Banca agrees to recapitalise banks created from regional lenders
Lars Rohde on negative rates, pegs, productivity and resolution
The National Bank of Denmark governor speaks to Christopher Jeffery about the productivity paradox, defending currency pegs, unexpected limits for negative rates and addressing too-big-to-fail
Rohde criticises Italy's calls for BRRD special treatment
Danish governor believes the forceful implementation of Europe’s new bank resolution rules represents a “game-changer”; laments Basel’s shift from risk-based regulation
FSB: Japan should strengthen financial stability framework
Latest peer review says Japan has work to do in improving the macro-prudential framework and clarifying approach to resolution
US and EU outline final rules on loss-absorbency
Fed adopts final rule on loss-absorbency, while EBA makes final recommendations to European Commission; US rules include grandfathering and exceptions for foreign firms
US agencies reject Wells Fargo resolution plan
Bank faces further curbs on its activities if it cannot present the Fed and FDIC with a sufficiently improved plan by early 2017
Dealers urge further clarity on rules for ailing CCPs
New European rules stop short of defining resolution triggers
RBA paper asks why companies fail
Researchers find specific features of Australian companies make them more likely to fail
Hong Kong proposes safeguards for contracts during resolution
Rules seek to protect some critical financial contracts during resolution without overly constraining resolution authorities
Bank of Canada paper explains decision to dilute ELA solvency requirement
Economists say emergency liquidity can play an important role in a resolution process, which led the Bank of Canada to amend its rules to allow for temporary insolvency
Ignazio Visco on Italian banks and why the ECB should not be made a ‘scapegoat’ for EMU fatigue
The Bank of Italy governor speaks to Chris Jeffery about resolving Italy’s NPLs, Europe’s bail-in framework, the importance of QE and why the ECB needs to stop being made a ‘scapegoat’ for EMU fatigue
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
Top US and EU officials hold resolution war game
US, UK and eurozone central bankers, regulators and politicians participate in an exercise designed to improve the co-ordination of cross-border resolution
FSB fleshes out guidance on resolution
Reports add detail on emergency funding needs for global banks and maintaining the continuity of critical services during resolution; most standard-setting work expected to be finished in 2017
RBI approves new method for restructuring stressed loans
Indian banks will be able to split some of their largest stressed loans in two; rules introduced as RBI looks to help banks achieve “clean and fully provisioned bank balance sheets” by March 2017
Swiss regulator forms resolution division
Regulator hopes to focus its efforts by uniting disparate teams in a new division, with current enforcement chief David Wyss becoming head of resolution
Draghi policy announcement notable for its absences
ECB president announces slight upward revision in ECB's eurozone growth and inflation predictions, but does not unveil any new financing policies for Greece
Eurozone's Single Resolution Board sets out 2016 plans
Eurozone's Single Resolution Board sets out its plans for 2016; resolution manual to be published in summer and resolution plans to be approved by end of 2016, board member says
Hoenig warns reliance on long-term debt could represent systemic vulnerability
FDIC vice-chairman warns of danger of substituting long-term debt for equity and comments on disagreement with Fed over ‘living wills’
Minneapolis Fed to explore resolution alternatives in TBTF initiative
Neel Kashkari adds alternative resolution mechanisms to the agenda as Minneapolis Fed looks for solutions to the too-big-to-fail problem; discusses outcomes from this month’s symposium