News/Financial Stability
Apac central banks reassure amid Credit Suisse woes
Central banks in Australia, Singapore and Hong Kong say banking systems remain stable
US banks tap $11.8 billion from new Fed facility
Fed set up Bank Term Funding Program in wake of Silicon Valley Bank’s collapse
PBoC to cut reserve requirement ratio
Top officials have previously called for use of the policy tool to boost economy
China to set up new party-led financial supervisors
New committees to be established by end of 2023 as part of wider supervisory change
ECB continues tightening despite financial risks
Lagarde says there are no trade-offs between financial stability and inflation
SNB to lend up to $54 billion to Credit Suisse
Swiss central bank and supervisory authority say bank meets capital requirements
BoJ flags risk management problems at banks
Central bank also tries to allay concerns over Japanese banks amid SVB crisis
Fed launches supervision review in wake of SVB collapse
Vice-chair for supervision says central bank needs to show “humility” after bank failure
Central database is ‘cornerstone’ of open banking
Cyber security and financial literacy are key obstacles to data-sharing, experts say
UK brokers sale of SVB subsidiary
HSBC to buy tech lender’s UK arm for symbolic fee after BoE takes part in emergency bidding process
Fed creates new liquidity backstop amid contagion fears
Valuing collateral at par marks significant break with rules on standard liquidity facilities
ECB to run cyber attack stress test for eurozone banks
Eurozone banks have seen major increase in hacking after Russian invasion of Ukraine, Panetta says
Crypto firms are dodging scrutiny, US comptroller warns
Hsu compares crypto exchange FTX to BCCI, subject of infamous ’90s banking scandal
Run on US bank sparks fears over interest rate risk
Major banks’ shares drop as investors reassess billions of dollars of unrealised losses
Saudi Arabia gives Turkish central bank $5 billion
Turkish government moves to protect workers from firing in aftermath of earthquake
To repo or to buy? Non-bank liquidity backstops still elusive
BoE’s Hauser and Fed’s Logan flag major design challenges in building ideal market backstop
BoE tells LME Clear to fix governance failings
Regulators open “enforcement investigation” into nickel market disruption
End dependence on central bank financing, Ukraine governor says
Supervisors will start evaluating banks in April as IMF considers increased financing
Israel political crisis sparks fears for economy
Bank of Israel governor reportedly convened financial stability committee last week
FATF suspends Russia and grey-lists Africa’s largest economies
South African president pledges rapid reform as Yellen hails action against Russia
Lebanese governor is charged with financial crimes
Prosecutor asks higher court to examine case against Riad Salameh
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
China revamps risk exposure rules for commercial banks
New rules aim to improve banks’ risk measurement and reflect size differences, regulators say
Russian governor says rates may have to rise
Nabiullina says economy may grow amid wartime investment, but inflationary pressures are high