Financial Stability
ECB turns attention to single card payments area
Card payments are lagging credit transfers and direct debits when it comes to harmonisation across the eurozone; ECB calls for "considerable efforts" to rectify this
Regulators reveal details of EU and UK stress tests
European Banking Authority and Bank of England set out the scenarios they will use in their respective stress tests later this year; ECB sets deadline for meeting capital shortfalls
RBI deputy reviews Indian macro-prudential experience
Kamalesh Chakrabarty evaluates India’s experience with macro-prudential policy and considers how central banks can build analytical frameworks to guide their oversight
Fed bars BofA from raising dividends after flawed capital submission
Federal Reserve orders Bank of America to resubmit capital plan after bank discovers inaccuracies dating back to Merrill Lynch takeover that caused miscalculation of capital ratios
Financial markets still fragmented, say ECB and Commission
European Central Bank and European Commission find the eurozone is more economically and financially fragmented now than it was before the crisis
ECB publishes final SSM framework
European Central Bank finalises framework for Single Supervisory Mechanism; sets out relationship with national competent authorities and criteria for determining significance of banks
Sarb forecasts further impact from Fed taper
Financial stability review highlights domestic risks that could ‘amplify’ the impact of US monetary policy on the South African economy
SNB refuses to give ‘all clear’ on housing market despite capital buffer rise
Thomas Jordan tells Swiss National Bank shareholders that real estate prices remain a concern despite the recent increase in the counter-cyclical capital buffer
Constancio hails Banking Union's ‘remarkable sharing of sovereignty'
ECB vice-president Vitor Constancio says Banking Union with no common recapitalisation tool requires EU's biggest economies to surrender their advantage
BoJ takes financial system's temperature
Bank of Japan says financial systems are generally healthy and resilient, but could be impacted by an economic downturn coupled with a rise in interest rates
Coen appointed new Basel Committee secretary-general
William Coen takes over Basel Committee secretariat after seven years as deputy; Wayne Byres leaves to head Australia’s prudential regulator
Bulgarian National Bank selling 64 tonnes of scrap coins
Bulgarian central bank set to sell 64 tonnes of defunct old coins to the highest bidder, who will melt them down for scrap
Predictive text: Bank of Lithuania prepares to announce euro adoption by SMS
The Bank of Lithuania strikes a deal with mobile operators to text their customers if and when the EU Council names the country as the 19th member of the eurozone
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report
Hungary central bank buys interbank clearing company Giro
Central Bank of Hungary aims to buy out remaining minority shareholders in the country's provider of interbank settlement services over the next two months
Irish deputy calls for legislative review as SSM nears
Central Bank of Ireland deputy governor Cyril Roux wants to review the country’s legislation to ensure there are no conflicts with the new SSM regulation
Robert Pringle's Viewpoint: Time for central banks to play politics
Central bankers need to use the breathing space created by their extraordinary policies to lobby for deeper reform
Hong Kong banks' mainland exposure ‘not all hot money' says HKMA deputy
The right way to mitigate Hong Kong banks' exposure to mainland China is through supervising their credit risk and liquidity risk management, says Arthur Yuen
Dutch say US stress tests produced ‘valuable information’
Researchers find the disclosure of stress test results in the wake of the financial crisis had a ‘strong’ effect on credit default swap spreads, but less of an impact on stock returns
Riksbank calls for FMI recovery plans
Sweden’s central bank concerned by the lack of recovery and resolution plans for the country’s financial market infrastructures; calls for changes at individual platforms and in legislation
European Parliament adopts banking rules
Parliament approves the single resolution mechanism and adopts rulebook on bank recovery and resolution; MEP Sven Giegold warns banking union is ‘not yet complete’
Czechs discuss appropriate capital requirements for Sifis
Paper sets out the range of indicators that could be used, and the advantages and disadvantages of focusing on an individual or consolidated level
Ingves touts simplicity of final Basel CCP rules
Chairman of the Basel Committee says final rules for banks’ exposure to CCPs show success of ‘relatively simple solutions’, which includes single approach for calculating capital requirements
Philadelphia Fed president calls for 'simpler' regulatory mechanisms
Simple, transparent regulatory mechanisms would make it easier for market participants to predict how regulators behave, and increase the effectiveness of the regulatory regime, Charles Plosser argues