Macro-prudential
RBI’s Das warns banks to avoid ‘exuberance’ as credit surges
Indian central bank tightens macro-prudential policy on consumer credit
Svensson says house price metrics ‘unreliable and misleading’
Former Riksbank deputy governor says authorities are misjudging risks
ECB raises concerns over Italian macro-pru committee
Decree should give a casting vote to governor and remove members’ vetoes, ECB says
Reports of cash restrictions in Niger
West African central bank froze relations and closed local offices after July 26 coup
ECB paper models ‘state-dependent’ impact of capital ratios
Model simulates ratio changes’ effects on credit supply in different macro-financial conditions
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
Borrower-based measures show value as macro-pru tools
Central Banking Summer Meetings: Central bankers resist pressure to ease buffers at first sign of downturn
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Fed walking a financial stability ‘tightrope’
Experts disagree over US regulators’ use of systemic risk exception for deposit insurance
Macro-pru helps dampen global shocks – BIS paper
Authors find capital controls are less effective than prudential tools at offsetting shocks
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
RBI says banking sector ‘stable’ as Adani rout continues
Securities regulator will investigate “if any information comes” to its notice
Capital buffers not all working as intended – BoE paper
Some banks raised rates and contracted credit supply during the Covid-19 crisis
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
Proportionality in bank regulation: striking the right balance
Careful analysis is required when making any proportionality adjustments in the EU single rule book
Riksbank calls for housing and tax reforms to reduce financial risks
Financial system faces risks from highly indebted households and real estate firms, report says
Some CCPs struggle in BoE stress test
First CCP stress test finds firms come close to depleting their buffers in baseline scenario
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with buffer hike while forecasting recession
Fintech needs better oversight as risks grow, FSI says
Basel-based group sees room for system-level testing and closer scrutiny of tech firms
Corporate debt is a growing threat to financial stability
Policy-makers need to take action as tighter financial conditions risk tipping firms into distress
Rethinking regulation of the modern financial system
Rules need to address uncertainty in addition to risks, and should not be too complex