Financial Stability
Fed moves to ban state banks from holding crypto as principal
Supervisors outline plan for “level playing field” between state and national banks
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
Ransomware threat on the rise, says Boston Fed IT chief
Automation and AI could boost response times and ease staffing pressures
Fed deals double blow to crypto bank
Wyoming-based Custodia turned down for Fed membership and master account
RBI’s Das calls for more work on financial market development
Development has proceeded at “unprecedented pace” despite series of crises, governor says
Stefan Ingves on leadership, prudential oversight and transparency
Riksbank veteran talks about Basel III, policy lessons and CBDCs
Saudi Central Bank consults on draft banking law
Law’s goals include “enhancing banking secrecy” and improving depositor protection
Federal Reserve fines bank over AML breaches on Covid-19 loans
Popular Bank allegedly processed six coronavirus-era loans with significant signs of fraud
Bank of Jamaica to regulate non-bank sector after fraud scandal
Central bank takes over from commission after alleged crime that targeted Usain Bolt
Expected loss model can cut capital procyclicality – BoE paper
New approach to loan loss provisioning can improve stability of capital and leverage ratios
BIS paper proposes new capital flow management tool
Offsetting capital flows rather than blocking them could be the optimal choice, authors say
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
BoE says rush to sell could undermine insurance stability
Supervisor questions whether some firms’ stress-test assumptions are “realistic”
Fed begins climate risk assessments for largest lenders
Six largest US banks must assess exposure to physical and transition risks by July 31
Argentine minister announces debt buyback
Government will repurchase up to $1 billion in foreign currency bonds “to lower risk premium”
Head of Jamaican financial regulator resigns over fraud scandal
McFarlane leaves after alleged fraud at investment bank costs sprinter Usain Bolt millions
‘Funding for lending’ may suffer side effects – BIS committee
Survey finds lending schemes tend to be effective, but firms may become dependent
Some US banks “too big to manage”, OCC head warns
Acting comptroller Michael Hsu says agency may clarify regulation to improve governance
Capital buffers not all working as intended – BoE paper
Some banks raised rates and contracted credit supply during the Covid-19 crisis
FSB finds implementation of non-bank reforms still ‘incomplete’
Banks are well insulated but more progress needed on liquidity management and securities financing
‘Geo-economic fragmentation’ could cut GDP by 12%, says IMF
Georgieva says world faces “new Cold War”, putting global financial stability at risk
China set to ease borrowing limits for ‘high-quality’ developers
New measure is part of a 21-point plan to support the reeling property sector
Sri Lankan IMF deal blocked by debt problems, governor says
Bailout package needs agreement on Chinese and Indian loans, Weerasinghe says
BoE completes unwind of gilt market intervention
“Financial stability portfolio” took a month and a half to wind down, as QT continues