Financial Stability
IMF says Somalia is on track to reach major debt deal
Agreement with Russia would unlock relief, governor says
BoE begins work on non-bank emergency backstop
Central bank planning to roll out facility to insurers and pension funds as first step
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
BoE presses ahead with contentious insurance reforms
Changes to matching adjustment juggle competing priorities from government, firms and regulator
BoE postpones date for UK banks’ Basel III compliance
PRA says it needs more time to consider feedback on credit risk and output floor proposals
MAS defends AML supervision in wake of billion-dollar scandal
Credit Suisse, Citi, DBS and Deutsche Bank among firms implicated
Basel III capital shortfall narrows but liquidity ratios fall
Average capital ratios returned to pre-pandemic level in December 2022, Basel Committee says
US and China set up economics and finance working groups
Officials will report to US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng
Hong Kong regulator to publish more crypto information
Securities and Futures Commission reverses stance amid police investigation into crypto exchange
Stress-testing the banking system: what lies ahead?
Pedro Duarte Neves says stress tests must evolve to capture systemic, liquidity and cyber risks
Iraqi central bank bans use of dollar for internal transactions
Move comes as tension with US over money laundering and Iran causes growing dollar shortage
Policy-makers should shun ‘black box AIs’, Fed’s Cook warns
AI could displace jobs while raising productivity, Federal Reserve governor says
Chinese developer says regulators’ conditions prevent new debt issue
Pressure grows on Evergrande to restructure estimated $328 billion debt amid property sector crisis
Pandemic may have altered US credit score reporting – paper
Government support and spending changes improved many individuals' ratings, researchers find
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
FSB proposes global standard to tackle failed CCPs
Report warns authorities not to rely on any single tool but adopt a “toolbox approach”
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
Hong Kong regulator moves against crypto exchange
SFC says JPEX is not regulated to trade in city as police arrest influencers linked to firm
Banks increasingly reliant on ‘flighty’ finance, BIS finds
Money market funds are taking on an even greater role as funding sources, research says
Aruba accuses Curaçao of regulatory failings
Spat between central banks comes amid ongoing problems with troubled insurer Ennia
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
Debt levels are likely to start rising again, IMF warns
China playing major role in debt growth, as low-income countries face worse risks, analysts say
Margining added to liquidity stress after Ukraine invasion – BIS
Bulletin article examines how tool designed to promote stability can have undesirable side effects