Financial Stability
UAE’s central bank connects RTGS system to Swift tool
New initiative allows participants to monitor progress of transactions in real time
Implementing Basel III accords must not be delayed – ECB’s Enria
Financial sector is calling for further postponement but this will bring no benefits, supervisor warns
BoE prepares to break with EU rules on smaller banks
Central bank signals a more tailored approach to regulating non-systemic banks
Nigerian central bank sacks board of third-largest lender
Central bank governor Emefiele says senior managers made large non-performing “insider loans”
RBNZ does not have ‘adequate’ AML/CFT resource – FATF report
New Zealand central bank needs more AML/CFT resources and tougher penalties
Central clearing of Treasuries could cut disruption – NY Fed paper
Central clearing could have avoided most settlement failures during Covid-19 crisis, authors say
Singapore’s SWF starts work on cross-border payment network
JP Morgan, DBS Bank and Temasek say project will build on collaboration with MAS
MAS and Bank of Thailand connect retail real-time payments
Transaction times will be reduced to minutes as opposed to one to two days, central banks say
Insolvencies could jeopardise EU recovery – ESRB report
ESRB calls on governments and banks to plan a smooth phasing-out of support measures
ECB paper measures economic uncertainty in eurozone
Researchers present method to monitor changes in uncertainty in eurozone and its trading partners
Australia, Canada and New Zealand form network for indigenous inclusion
Ottawa will host symposium on indigenous economics later this year
Foreign banks can reduce harm of ‘doom loop’ – ECB paper
Cross-border banks in eurozone countries soften effects of sovereign stress on credit
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
Supporting Pacific islands should be ‘strategic priority’ for banks – Orr
RBNZ governor says banks must show ‘courage’ and provide services through good times and bad
Central banks halt longer-term dollar liquidity auctions
Major central banks will no longer offer dollar liquidity at the 84-day maturity
Macro-prudential tools can boost long-run growth – BoE paper
Authors develop theoretical framework linking financial frictions to long-run growth
Syrian dictator appoints new central bank governor
Authorities halve official value of Syrian pound as civil war continues to damage economy
Green instruments added as collateral for lending facilities – PBoC governor
China’s central bank will launch tools to encourage emission reductions
ESG investment must grow to achieve zero carbon emissions
Action is needed to scale up green investment and tackle information issues, writes Sayuri Shirai
Governors Nabiullina, Tabaković and Bezhoska on systemic risk and women in power
Russia, Serbia and North Macedonia governors discuss bank reforms, corruption and the Covid-19 crisis
Macro-pru can alleviate stress – Portuguese paper
Co-ordinated macro-prudential and fiscal policies can alleviate credit contractions, paper finds
Capital and liquidity rules work better together, BoE paper finds
Literature review finds having both requirements is better than just one, but “significant gaps exist”
Central banks need more data and better measures on climate – BCBS
Basel Committee may re-evaluate risk framework to account for effects of climate change and green policy
Ukraine’s central bank orders transparency for non-bank sector
Non-banks must disclose all beneficial owners to NBU and reform ownership or face losing licences