Financial Stability
Bank of Canada unveils new banknote
New C$20 polymer banknote unveiled by Bank of Canada; enhanced security features aimed at thwarting counterfeiters
Draghi calls for growth to top the agenda for eurozone
ECB president Mario Draghi calls for 'growth compact' to complement fiscal compact in eurozone; says individual countries need to meet responsibilities on fiscal consolidation
Reserve Bank of New Zealand’s Spencer outlines macro-prudential initiatives
New Zealand central bank deputy governor outlines macro-prudential policy initiatives and says the reserve bank expects to take the lead on implementation
Dombret calls for faster EU action on regulation of Sifis
Deutsche Bundesbank's Andreas Dombret calls for EU to act faster on regulation of Sifis; says individual countries implementing their own frameworks creates ‘problems for the future'
Gensler confident clearing location requirements will not be imposed
Regulators are unlikely to insist local currency OTC derivatives trades be cleared domestically, says CFTC chair Gary Gensler
IMF research highlights benefits of dynamic loan-loss provisioning
International Monetary Fund working paper advocates dynamic approach to loan-loss provisioning to smooth costs over the credit cycle
King admits BoE should have done more to prevent banking crisis
Bank of England governor says central bank should have done more to prevent crisis despite its limited powers to act; says new resolution mechanism will not work for global banks
Dallas Fed chief calls for taxes on 'too-big-to-fail' financial institutions
Dallas Fed's Richard Fisher calls for more action on 'too-big-to-fail' entities; says new taxes should be introduced to encourage institutions to shrink balance sheets
Fed’s Tarullo laments delays in shadow-banking reform
Federal Reserve’s Daniel Tarullo hits out at slow speed of money market and repo market reform; urges debate on functions that ‘shadow banks’ should perform
Early warning system for systemic risk a 'huge challenge', say experts
The Office of Financial Research is charged with supplying data to help US regulators assess potential risks to the financial system but some experts are sceptical over what data should be used
Euro crisis drives up use of collateral in OTC derivatives, finds survey
Trouble in the eurozone increased use of collateral in over-the-counter derivatives market, according to trade association survey
IMF research examines correlation between structural reforms and economic convergence
International Monetary Fund working paper finds that specific economic reforms can help improve the speed at which regional convergence is achieved
BoE statistics show fall in business lending in March
Bank of England lending statistics show decline in business lending and rise in consumer lending in the UK during March
Carney calls for competitiveness gains to drive exports
Governor of the Bank of Canada calls for exporters to improve competitiveness; says there must be a focus on exporting to emerging economies
HKMA strikes a cautious note on territory’s banking sector
Hong Kong Monetary Authority concerned about continued credit expansion in the territory and contagion risk from the European sovereign debt crisis
FSB to improve monitoring of compensation practices
Financial Stability Board to introduce two new mechanisms to help ensure a level playing field where executive pay is aligned with the long-term interests of financial institutions
ECB survey finds worsening borrowing conditions for SMEs
European Central Bank survey finds borrowing conditions for SMEs have ‘worsened considerably’ in past six months
Riksbank report calls for creation of kronor bond portfolio
Sveriges Riksbank research advises central bank to acquire a portfolio of assets held in Swedish kronor as part of 'toolkit' to help achieve long-term financial stability
Central Bank of Ireland publishes research on house-price decline
Irish central bank research shows house-price falls in Ireland among worst in OECD; negative future expectations cited among reasons for continuing fall
US Treasury’s FX exemption hangs in the balance
A year after the US Treasury's proposed regulatory exemption for FX swaps and forwards, the position has never been confirmed - and some believe it may be reconsidered
MAS to use currency appreciation to keep inflation in check
Monetary Authority of Singapore says ‘gradual’ easing of exchange band will ‘anchor’ inflation; Asian demand to underpin economy despite ageing population and economic problems in the West
Constâncio calls for euro-wide database of repo trades
European Central Bank vice-president calls for database of repo trades as part of new regulatory framework for shadow banking sector
Central Bank of Ireland governor wants 'intrusive' regulation
Patrick Honohan says regulatory system in Ireland is now ‘obtrusive and intrusive’ rather than 'light touch'
RBI’s Sinha calls for enhanced regulation of microfinance
Reserve Bank of India deputy governor calls for greater regulation of the microfinance sector; says there has been a "significant downturn" in the sector's prospects