Financial Stability
Basel III helps Russian banks handle economic turmoil, says Yudaeva
Russia’s adoption of international banking rules has given its banks partial protection from a plunging currency and soaring interest rates
Capital controls may do more harm than good: NBER paper
Working paper attempts to gauge the adverse effects of imposing capital controls, including segmented financial markets, more expensive capital, and reduced investment
Leaning against the wind may boost shadow banking: BoE researchers
Contractionary monetary policy may encourage growth of shadow banking even as it restricts commercial banks, casting doubt on the ability of central banks to ‘lean against the wind’
EBA declares LCR 'not likely' to have negative impact
Impact assessment by European Banking Authority finds liquidity coverage ratio is unlikely to negatively impact bank lending or financial stability; some banks show shortfall
Cuban central bank to issue three new large-value banknotes
Central bank plans to issue banknotes worth 200, 500 and 1,000 domestic pesos; the largest note currently in circulation is worth 100 pesos
Cash settlement shifts to central bank platform in Kenya
Cash settlement of equity and corporate bond transactions on Nairobi Securities Exchange now taking place on Central Bank of Kenya’s real-time platform
ESRB on the hunt for experts to join macro-prudential advisory committee
Applicants for a seat on Advisory Scientific Committee must be academics or industry practitioners and cannot be employees of a member institution
Central Bank of Colombia director calls for new policy tools
Colombia’s central bank needs to ‘steer regulation towards dealing with the systemic risks in the financial sector as a whole’ and not as isolated parts, argues director
Ireland’s Honohan: organisational structure to be ‘thoroughly overhauled’
Central Bank of Ireland governor details ongoing efforts to rectify the regulatory failings that led to the 2008 crisis in the country's banking system
Central Bank of Nigeria eases rules for bank dollar holdings
Nigeria’s central bank has eased the rules for interbank dollar holdings in attempt to boost liquidity in forex trading market, but one FX strategist warns of ‘marginal impact’
Coins and notes with same value to circulate in Angola
Angola’s central bank will issue two new coins in November, of 50 and 100 kwanzas, which will circulate with equal denomination banknotes
IMF paper considers merits of macro-prudential liquidity buffer
Working paper asks whether such a buffer would be desirable, and how it might operate in practice; authors say it would complement other requirements including the LCR and NSFR
Economics in Central Banking: Claudio Borio
The Bank for International Settlements’ economics head secures win for his work applying the concept of ‘excess financial elasticity’ to the international monetary and financial system
BoJ paper outlines enhancements to flow of funds data
Review paper details improvements to flow of funds accounts statistics in Japan introduced since the global financial crisis, and identifies a number of trends that have emerged
PBoC to accelerate reform process in 2015
Chinese central bank signals more financial reforms and a faster opening of financial markets in 2015; focus on ‘prudent’ monetary policy but more stimulus a possibility
DNB bulletin: International cooperation ‘essential’ over cyber threats
Latest bulletin from The Netherlands Bank encourages both financial institutions and national authorities to collaborate more in bolstering defences against attacks
Bank of Jamaica set for new powers in 2015
Central bank on track to assume responsibility for financial stability; will start conducting annual reviews to track ‘readiness’ for full-fledged inflation targeting
No end in sight for cash payments, Canadian research finds
Despite its costs, cash remains a popular option among Canadians, with younger consumers and merchants showing the highest demand for cash
IMF paper suggests looser monetary policy to offset eurozone macro-pru policies
Staff paper examining housing markets in Denmark, Ireland, Spain and the Netherlands also proposes restricting banks' ability to pay dividends in order to absorb losses
BoE’s crisis Court minutes reveal fractious relationships inside and out
Minutes of 2007-2009 meetings reveal efforts by Bank of England executives to circumvent the Court, as well as ‘strained’ relationship with other regulators
PBoC names clearing banks in Thailand and Malaysia
Industrial and Commercial Bank of China will clear renminbi in Bangkok and Bank of China in Kuala Lumpur, the central bank announces
Bank of Korea paper examines global liquidity drivers
Researchers at central bank explore transmission of global liquidity shocks from advanced to emerging market economies; warns there is no ‘silver bullet’ response
Bundesbank paper finds bank levy is biting
Big banks have adjusted their behaviour in response to a tax on their liabilities, but less revenue has been raised than expected, Bundesbank researchers find
Banks are being herded into using similar risk methods by regulation, experts warn
Regulation is encouraging banks to manage risk using similar methods, which presents a threat to financial stability, witnesses tell a UK parliamentary committee