Financial Stability
Afghanistan must reform banks further, IMF says
Banking sector still shows weakness despite good work on economic reforms – IMF executive board
CNB raises countercyclical buffers as risks build
The central bank stress-tests not only the financial sector but also households and the government
UK’s parliament asks questions over FCA handling of suspended fund
Andrew Bailey calls for limits on illiquid investment to be maintained by offshore funds
FSB report considers implications of decentralised financial technologies
Report warns of negatives of tokenisation
Global imbalances require ‘carefully calibrated’ policies – IMF
Report comes as G20 leaders warn about imbalances concentrated in advanced economies
RBI renews push for loan clean-up after Supreme Court defeat
Revised circular designed to avoid legal issues suffered by earlier version
Lagarde sends warning on US corporate and fiscal debt
Non-financial corporate liabilities reached nearly $20 trillion in Q1 2019, Fed data shows
Climate disclosures still ‘insufficient’ – task force
There has been progress on climate disclosures but much more is needed, report says
Senators urge Fed to investigate Trump and Deutsche Bank allegations
Whistleblowers allege financial wrongdoing by senior bank staff and transactions involving Trump
BoE’s Ramsden calls time on Libor use
Deputy governor says progress on transition to Sonia benchmark needs to accelerate
Limited access to finance increased business exits in Great Recession – St Louis Fed
Illiquidity may have played a greater role than insolvency in business exits, researchers find
BIS research documents high concentration of cross-border credit
Big banks dominate global credit, which matters for global spillovers, authors say
Ghana closes 72% of its microfinance firms
The Bank of Ghana revokes licences of 347 firms
Narrow bank TNB hits back at Fed regulatory proposal
Fed overreaching by attempting to rewrite its chartering authority, TNB says; investment firm DE Shaw also reveals intentions to launch a narrow bank
Irish central bank voices concern over firms’ senior executives
Sharp rise in number of candidates rejected for senior roles on “fitness and probity” grounds
ECB again criticises Slovene attempt to change central bank law
Politicians’ latest attempt to compensate bailed-in shareholders would break EU law, ECB says
Carstens warns fading regulatory momentum strengthens ‘vested interests’
BIS chief says complacency could set in as regulators move from implementation to evaluation
PBoC takes over city commercial bank in bid to stop contagion
Central bank says this is a standalone case and it has no plans to take over other banks
Regulations lower rates and cause imbalances – BoE paper
Research into repo market highlights some unintended consequences of post-crisis regulations
Bank of Israel to collaborate with national body on cyber defence
Memorandum with National Cyber Directorate sets stage for closer co-operation on bank security
BoE makes climate risk a hot topic for banks
Financial institutions must entrust oversight of climate risk to named individual under senior managers regime