Financial Stability
The toxicology of post-crisis shadow banking
Mark Carney tempted fate in 2017 when he declared the most toxic forms of shadow banking “no longer represent a global stability risk”. Did he speak too soon?
Draghi renews calls for wider economic union in Europe
ECB head recommends fiscal backstop for resolution fund criticised by German policymakers
Climate change risks ‘already with us’ – BoE’s Breeden
Sarah Breeden urges financial firms to take action on both opportunities and risks
Philip Lane on systemic risk, transparency and Brexit
The Central Bank of Ireland governor speaks with Dan Hardie and Chris Jeffery about transparency, shadow banking, ECB succession and tackling systemic banking risk in the eurozone
Adrian and Rey: macro-prudential tools needed to resist ‘bad booms’
Economists say monetary policy cannot fully control local conditions; Hélène Rey calls for improved early warning models
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
Danish regulator sanctions biggest bank for Estonian money laundering
FSA chairman resigns as Estonian regulators fail to comment on allegations
ECB awards $19.6 million treasury contract to Openlink
Central bank says treasury management system is a “mission critical” system; Openlink’s Findur platform will be implemented by 2019
Argentina calls on IMF for help
President Macri calls upon the IMF for financial aid as peso depreciation continues; policymakers hold rates at latest meeting
RBNZ probes banks’ conduct after Australian inquiry reveals malpractice
New Zealand regulators express alarm over revelations from Royal Commission
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
‘Black box’ models present challenges – US regulators
US officials say they have some powers to assess AI tools, but resourcing is problematic
Irish central bank may force banks to act on gender diversity
Deputy governor Donnery says central bank may act if voluntary agreements do not work
Poloz weighs dangers of Canada’s C$2 trillion debt pile
Some households are vulnerable, Bank of Canada governor says
Islamic finance can tackle global instability – Kuwait’s Al-Hashel
Amid “excessive” risk-taking, Mohammad Al-Hashel suggests Islamic finance could help restore stability
UK takes next steps in payments shake-up
Two of the three retail payment systems have been taken over by the New Payment System Operator, with the third to be integrated soon; first non-bank PSP connects to BoE’s RTGS
US will implement trading book reforms, insists Fed official
“I don’t know why people doubt” US adoption, says Lynch
ECB calls for reforms to macro-prudential framework
“Pecking order” for activating responses should go, ECB says; framework needs “comprehensive review"
European Union’s AML regime is reaching its limits, EBA director says
Haben raises concerns over ‘passported’ individuals and firms; new European law guarantees access to central bank registers
Asset managers should be allowed to operate globally – Bailey
FCA chief warns against attempts to restrict trade in financial services, and says he believes regulators have a good basis for “mutual recognition” of standards
Russian central bank bails out another commercial lender
Asian-Pacific Bank is “socially important” in Siberia and Far East, Bank of Russia says
Carney and Draghi to tackle Brexit risks in new group
EU and UK authorities ask central bankers to manage risks to financial services