Financial Stability
Portuguese and Irish officials support banking union
Bank of Portugal governor and Central Bank of Ireland chief economist offer support for the creation of a deposit guarantee scheme and banking resolution fund in Europe
IMF’s Lipton cools recovery talk
Greater euro area and US progress is needed to avoid another global downturn; more co-operation required on regulatory reform
MAS moves to bolster payments supervision
Bill introduced into parliament to amend Payments Act would enable Monetary Authority of Singapore to act faster in cases of emergency
Finnish paper proposes further ATM regulation
Largest ATM provider in Finland has foreign fee it can charge capped; socially optimal level only reached with regulated interchange fee
FSB to hold non-compliant G-20 countries to account, says Carney
The Financial Stability Board will ‘name and shame’ countries that fail or attempt to avoid new global regulations aimed at improving financial market stability
Norwegian regulator to ease internal model timetable in wake of Solvency II delays
France's regulator also considering adjusting pre-approval schedule
Bank of Canada issues C$20 polymer bank note
Canadian central bank moves to replace most popular – and most frequently counterfeited – banknote as part of its migration to polymer currency
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an 'Ice Age' in the derivatives market
Bank of Mauritius struggles to buy-back debt, says governor
Rundheersing Bheenick says central bank is struggling to buy back bonds it was forced to issue to mop up excess liquidity
BoE’s Bailey preaches simple supervision
Bank of England executive director wants basic supervisory tools to support complex risk-based analysis
Greek mythology character to adorn new euro notes
New ‘Europa’ series of bank notes unveiled by ECB with five-euro note bearing the image of a Greek mythological princess first to be introduced in May 2013
Dutch paper praises financial innovation
Though it has been exploited by some, innovation in finance has contributed a lot to business and the wider world
CCP model secrecy is ‘wrong and unjustifiable’, says BoE official
Central counterparties should be required to make details of their models public, says the Bank of England’s payments and infrastructure division head
Malaysia’s Zeti issues guidance to pan-Asean aspirational banks
As banks develop pan-Asean business models in line with the region’s push towards economic integration, Malaysia’s governor outlines business practices expected to secure favourable market access
Kenyan coin shortage denied by central bank
Central Bank of Kenya insists there are sufficient coins in circulation; urges public to accept coins ‘without reservation’
EU clearing mandates unlikely before August 2013
The first clearing mandates are unlikely to be in place in Europe before August 2013, says Bank of England’s head of payments and infrastructure division
Regulated banks take greater risks abroad, says ECB paper
ECB study finds banks subject to tight regulation for domestic activities respond by relaxing lending standards abroad
Lagarde implores next US president to act fast on ‘fiscal cliff’
IMF managing director Christine Lagarde has challenged the next US president to urgently address Washington’s ‘policy uncertainty’ irrespective of who wins
Banks suspend dual-currency deposits in Japan
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
International reserves provided shelter from crisis, says Finland paper
Bank of Finland study says the accumulation of international reserves provided some countries with a buffer against the crisis; not such a clear-cut relationship with economic growth
Basel proposal to capitalise settlement risk ‘unnecessary’
In comment letters published last week, banks have taken issue with Basel Committee guidance that would capitalise post-execution exposure to settlement risk
FSA’s Turner warns emerging markets not to repeat West’s mistakes
UK Financial Services Authority head warns public officials in emerging markets to beware bank lobby groups and their story of the limitless benefits of finance
LCR drives expanding Asian liquidity swap market
Insurers are increasingly providing liquidity swaps to banks in what is viewed as a growing trend in Asia
FSB reveals G-Sib additional capital charges breakdown
FSB says four major banks to be hit by top 2.5% additional capital buffer as three banks leave and two are added to the list of global systemically important banks