Financial Stability
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic
Brainard sets out Fed’s approach to climate risk
Fed board member sets out agenda similar to that of other major central banks
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
New Nicaragua law may isolate local banks
Law could require domestic banks to maintain accounts of people under sanctions
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
ECCB persuades states to relax fiscal stance
IMF supports move to deal with pandemic’s effects, warning against “drastic fiscal consolidation”
ESRB warns governments not to withdraw stimulus prematurely
Report highlights how support measures face trade-offs between cliff effects and debt sustainability
Green finance: new initiatives in China, Europe and Americas
Eurosystem adopts common investment principles; China pushes climate modelling; and more
BoE may diverge from EU on software as capital
PRA opens consultation after Bailey says there is no evidence software assets should count as capital
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
RBI launches fresh bid to reform co-operative banks
Former deputy brought in to investigate measures to strengthen the troubled sector
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
French governor calls for ECB to make radical carbon shift
ECB is not sufficiently accounting for exposure to climate risk, says Villeroy de Galhau
Covid-19 has weakened UK households’ finances – FCA survey
Over 13 million adults will ‘struggle to make ends meet’, new survey says
Largest banks’ funding advantages grew in pandemic – research
Biggest banks’ perceived risk advantage grew after onset of Covid-19, researcher finds
Andrew Bailey attacks European Union over regulations
EU risks regional dispute as it holds UK to standard applied to ‘no other country’ – BoE governor
BIS paper tests impact of macro-pru on non-banks
Domestic and foreign prudential policies have opposite effects on non-bank share, authors find
Bank of Mexico moves to counter controversial cash law
Financial inclusion proposal follows draft legislation to make central bank buy up spare US dollar cash
European supervisors unveil new rules to combat ‘greenwashing’
Authorities say the “significant” new rules should lead to better climate disclosures
CCP open access will be ‘integral’ part of Mifid review
EC official says politicians will need to decide whether to further delay open access
UK’s New Payment Architecture brings ‘unacceptably high risks’ – regulator
Payments regulator warns new platform may be too costly and could quash competition
German finance minister pushes chief regulator out
Bafin head and deputy resign over their handling of Wirecard scandal