Financial Stability
EME financial markets are still vulnerable – BIS paper
Covid crisis has shown further market development work is needed, writes head of CGFS secretariat
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims
FSB and BCBS survey finds ‘major’ challenges remain in Libor transition
Report says “significant commitment” is needed to deal with data gaps and transition risks
Bank Indonesia to buy $28 billion of Government debt
Central bank increases direct financing of government, raising fears over currency and independence
US should extend benefit payments for long lockdown – ECB paper
If lockdown has to continue, lawmakers should further extend benefits to avoid major damage
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Fed’s repo market footprint goes back to zero
NY Fed has no outstanding repo interventions for first time in 10 months
Common asset holdings important for stress testing – BoE paper
When banks and non-banks hold the same assets, losses can be magnified, authors warn
Banks will be tested in next phase of pandemic – FSB chair
Reforms are needed to improve resolution planning and non-bank resilience, Randal Quarles says
Hélène Rey on macro-financial distortions and ‘phase 2’ of Covid-19
Economist speaks about policy distortions, debt and AI ‘early-warning’ models
UK’s ‘Big Four’ told to separate audit practices
Major shake-up of accounting firms comes in wake of the Wirecard scandal
Peter Praet on Europe’s Covid-19 responses
Former ECB chief economist discusses stability, negative rates, common debt and improving the EMU
Yellen calls for ‘new Dodd-Frank’
Fed prevented financial crisis in March, says former chair, as Brainard backs calls for reform
How the Fed’s Covid stress test got stuck in the middle
Experts fear CCAR add-on has neither informed investors nor guided capital management
BoE issues deadline for firms’ climate risk plans
PRA says firms’ climate risk disclosures and scenario planning need major improvements
RBI supplies liquidity to Indian shadow banks ‘to avoid systemic risk’
Non-banking financial sector has faced major difficulties over last two years
UK firms must prepare for Brexit risks – FCA
EU and UK have yet to agree on equivalence, senior official warns
US living wills must include ‘lessons learned’ from Covid-19
Large banks must outline how crisis is impacting resolution planning capabilities, Fed and FDIC say
ECB stresses capital requirements won’t hamper bank mergers
Central bank launches consultation on new guidelines on banking sector consolidation
Fed’s safety nets are ‘fundamentally unsustainable’
New safety nets will allow “zombie companies” to thrive and drag down productivity, experts say
Dividends should be subject to macro-pru limits – ECB paper
Measure would reduce volatility in loan supply and equity levels, economist argues
Non-banks exposed to riskiest CLO tranches – Fed research
Risky holdings appear to be larger than market participants believe, economists say
Mobile payments banned in Zimbabwe
Central bank suspends mobile payment platforms following government circular
BIS warns of further shockwaves in ‘generation-defining’ crisis
Solvency crisis is looming on the horizon and health crisis is far from over, BIS officials say