Financial Stability
Central bankers call for ‘practical action’ to tackle climate risks
The time for talking is over, say NGFS members
Europe needs supervisory standards for climate risks – Lautenschläger
ECB official says standards should be worked out rapidly in modular form
Central banks urged to take four key climate actions
Network for Greening the Financial System releases first comprehensive report
Austrian central bank gives strong warning on draft regulation law
Changes would harm balance and efficiency and increase influence of special interests – OeNB
PRA breaks new ground on climate risk supervision
BoE says it is the first regulator worldwide to set expectations for firms in tackling climate risks
IMF’s Adrian says central banks should disclose climate risk exposure
Data gaps make it harder for central banks to set appropriate climate stress tests, he says
St Louis Fed creates educational ‘multiplier effect’
Head of economic education at the St Louis Fed talks to Central Banking about its approach to financial inclusion
Irish central bank welcomes ‘culture board’ in bid to change banks
Board must enforce changes called for by central bank reports, Derville Rowland says
Pause in normalisation could be bad news for EMEs – Mexico’s Guzmán
A pause may create a “more complex and uncertain external setting” for EMEs, he says
Finding our way to the new Ibors
Richard Heckinger highlights possible pitfalls on the road to new reference rates
Hard IMF conditions deter borrowers from coming back – ECB paper
Researchers use data on most IMF programmes since 1992 to investigate “IMF stigma”
Denmark joins central banks’ green finance network
Network for Greening the Financial System is working to tackle climate change
RBA warns about falling Australian house prices
Prices have declined since 2017, although unemployment and interest rates are at low levels
Zimbabwe signs agreement with IMF to strengthen macro framework
New agreement will complement government reforms to foster macro stability amid high inflation
Central banks will not rescue firms from future of payments – ECB’s Cœuré
Market disruption is likely as incumbent banks fight to remain relevant
Now is a ‘critical time’ for Ibor transitions – Bailey
Global regulators convene in Washington, DC to tackle the transition to new benchmark rates
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
Norwegian deputy issues warning on high private debt
Official advocates gradual reduction of household debt to income, as a sudden shock is a risk
RBA begins push for ISO 20022 payments migration
Central bank wants to make the switch before Swift ends support for some message types