Financial Stability
Linde says Spain on the path to fiscal adjustment
The governor of the Bank of Spain says country is attaining fiscal adjustment and the largest challenge to the economy is restoring market confidence
Singapore moves to prevent property price bubble
MAS introduces restrictions on loan tenures and lowers loan-to-value ratios in a bid to stem risk of price bubble in property market
Swedish deputy governor says IMF ready for global surveillance role
Barbro Wickman-Parak says IMF should lead surveillance of global financial system due to its legitimacy and depth of knowledge
IMF paper considers risks to sovereign assets
Study by IMF discusses benefits of sovereign asset and liability management frameworks; finds they help account for correlations between separate indicators
EBA positive on capital buffer progress
European Banking Authority says majority of banks met 9% capital requirement by June deadline; four banks fell below threshold and are receiving support
IMF develops flexible approach to funding to meet drawdowns, annual report says
Annual report says IMF has taken steps to improve the flexibility of funding instruments in face of ‘fragile recovery’; expects continued strong demand for funding
Australian CCP cannot delay margin application any further, says RBA
Reserve Bank of Australia says ASX Clear’s deadline for the implementation of equity margins has been extended but cannot be pushed back any further
RBI may force move to electronic payments
Reserve Bank of India plans to channel payments providers into 'less-cash society' through regulation if necessary, according to new report
Bank of Greece abandons 9% core capital requirement
Central bank suspends plans to raise core Tier I capital ratio as banks struggle to raise equity and data show contraction in lending continues
Zambia unveils new currency features
The Bank of Zambia reveals images and security features of new, rebased, currency; now comprises six banknotes and four coins
ECB research finds European retail payment costs about 1% of GDP
Study measures costs of retail payments across a sample of European countries; finds costs of retail payments account for a significant proportion of GDP
Malaysia’s Zeti says Asia must prepare for ‘new global landscape’
Zeti Akhtar Aziz highlights challenges due to the changing world economy following the financial crisis; says Asia is ‘well ahead’ with implementing financial stability policies
Mexican deputy says regulation should not be adopted 'unconditionally'
Manuel Ramos-Francia says regulation should not be adopted without properly considering its impact on growth; could otherwise be harmful in the long run
ECB paper examines ability of central banks to tackle dual liquidity crises
ECB study investigates how different monetary regimes impact on the ability of central banks to contain dual liquidity crises; finds less interference equates to more action
Liikanen review calls for ring-fencing of banks’ investment arms
Report on reforming structure of EU banking system recommends separating investment arms from retail operations for banks with large trading operations
New report calls for CCP resolution regime
Centre for the Study of Financial Innovation report recommends resolution regime for 'risky' central counterparty clearings
Colombian paper probes predictive power of expectations
Central Bank of Colombia study investigates the accuracy of exchange rate expectations during the past nine years; finds discrepancy between short and long term
ECB's Cœuré investigates collateral scarcity
Benoît Cœuré discusses rise in demand for high-quality assets in the eurozone and says changes needed if shift is permanent
BoE review estimates OTC margin requirements could hit $800bn
Bank of England review models the effect of OTC reforms on margin requirements; anticipates slow adaptation
European Commission criticises Basel Committee findings
Assessment report finds EU and US ‘materially non-compliant’ with some areas of Basel framework; European Commission questions report’s methodology and use of evidence
Spain releases banking stress test results
Stress tests show Spanish bank recapitalisation needs close to level identified in tests earlier this year; paves way for restructuring and resolution of failed banks
Riksbank’s Ekholm says Basel III not enough for Sweden
Karolina Ekholm says Swedish banks are highly interconnected, raising the need for stronger and more diverse macro-prudential regulation than under the Basel III framework
EBA report finds banks €199 billion short of Basel target
European Banking Authority report details capital shortfall of largest banks in eurozone; calls for ‘significant effort’ to hit targets
Wheatley unveils details of planned Libor reform
Martin Wheatley’s final report recommends ‘comprehensively reforming’ Libor rather than replacing the benchmark; BBA stripped of rate-setting role