Financial Stability
Digital money could strain global financial safety net – IMF paper
Economies with existing vulnerabilities are more exposed to impact of digital money, authors say
Major Chinese shadow bank files for bankruptcy
Zhongzhi Enterprise Group’s $36.5 billion shortfall raises fears of contagion from property downturn
The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
PBoC ramps up funding support for policy banks
Biggest monthly increase for cheap loan funding in over a year likely to target property sector
Indian financial sector is resilient despite lower capital ratios – RBI
Banks pass stress tests, but RBI warns of decline in capital ratios and problems at some non-banks
MAS fines Credit Suisse S$3.9 million over misconduct
Relationship managers made false statements to clients over bond trades, says regulator
ECB paper analyses indirect channels of interbank contagion
Eurozone’s interbank market vulnerable to sovereign debt and non-bank sector shocks, research finds
Finma calls for more powers after Credit Suisse failure
Swiss central bank head had wanted to nationalise the failing global lender
Inflation may continue to fall, World Bank officials say
But core inflation and possible energy shocks continue to pose risks, researchers warn
Held-to-maturity assets present banking risks, paper says
Boston Fed research argues SVB failure could mean regulatory re-think
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
Climate change increases inflation risks – ECB paper
Both level and volatility of inflation could increase due to rising temperatures, researchers say
Riskiest non-banks shrink for first time since 2009
FSB says narrow measure of riskiest firms fell in 2022 as asset price falls hit investment funds
Europe’s half-baked benchmark switch leaves some dissatisfied
Users frustrated by narrow scope of euro transition, but replacing Euribor was never a euro group objective
PBoC carries out record liquidity injection
Chinese authorities relax home-buying rules in Beijing and Shanghai
Regulating data use: implications of data sitting in the middle
Regulators need to take action to ease tensions created by the growing use of data, says Manoj Singh
Credit lines can amplify stress – NBER paper
Study finds junk-grade firms draw more credit, and drawdowns can worsen liquidity shocks
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi
New Zealand’s government returns central bank to single mandate
New coalition government says Labour’s shift to a dual mandate in 2018 was “a mistake”
CFTC sounds alarm on clearing capacity
US regulator warns porting cannot be guaranteed in the event of a large member default
CGFS draws lessons from 168 years of macro-pru policy
Controlling housing market risks can force authorities into difficult political economy terrain
Basel Committee to consult on stablecoin capital requirements
Feedback also sought on interest rate risks and G-Sib “window dressing”
BoE and FCA set out plan to oversee ‘critical third parties’
Regulators fear growing reliance on outsourced services could threaten financial stability