Financial Stability
Buba's Buch calls for ‘clear-cut inclusion’ of CEE in banking union
Bundesbank vice-president highlights room for improvement in supervisory framework; concerned about integration of banking markets across Europe
New York Fed report reviews risk-return trade-off between financial conditions and financial stability
Paper focuses on vulnerabilities affecting trade-off, including pricing of risk and leverage; discusses how macro-pru policies can counteract vulnerabilities
ECB appoints supervisory heavyweights to new review board
Governing council appoints five members to board, tasked with conducting reviews into ECB’s supervisory actions, including former central bankers from France, Germany, Italy and Spain
De La Rue ‘preferred bidder' for next Bank of England printing deal
UK printer expected to sign contract with central bank next month and start producing new notes in April; BoE hired Innovia Security to supply polymer substrate in March
Tetangco targets ‘distinct brand’ for Philippines banking
Central bank governor singles out risk management, corporate governance and consumer protection as the ‘fundamental aspects’ of the Philippines’ brand of banking
Higher capital requirements lead to lower lending, study by Calomiris finds
Paper published today by the Bank of England finds ‘little evidence of interaction' between monetary policy and capital requirements; studies their impact on bank lending
Timor-Leste central bank green lights mobile money pilot
Initiative will allow users to execute payments, transfers and withdrawals through mobile phones, and follows the introduction of a ‘master plan’ for financial sector development
Kenyan governor points to financial inclusion success
Njuguna Ndung’u sees ‘bright’ future for Kenya’s financial system; points to growing financial inclusion and successful issuance of eurobond in international market
Bank of England sets out rules for foreign bank branches
Branches lacking credible resolution plans could have their licences revoked, bank warns; insurance executive joins Prudential Regulation Authority board
Dutch payments forum looking to ‘speed-up’ transfers
Frank Elderson hopes the forum’s plan will ‘spark real-time payment transfers’, noting this would require a ‘comprehensive renewal’ of market infrastructure
Final liquidity rules issued for biggest US banks
‘More stringent' liquidity coverage ratio will come into effect in January 2017; Fed adopts final rule on supplementary leverage ratio, asks for input on swap margin rules
RBI's Joshi: Direct benefit transfers a ‘game changer' but have ‘not progressed smoothly enough'
Indian financial inclusion initiative needs government streamlining and the help of commercial banks to work, says Deepali Pant Joshi
South Africa’s central bank opens investigation on African Bank business
The investigation will determine if ’any business of African Bank was conducted recklessly, negligently or with the intent to defraud depositors’, the central bank says
Bank of Portugal initiates administrative proceedings against 14 banks in first half of 2014
Throughout the period the Portuguese central bank also issued 357 recommendations 'to require the correction of irregularities and infringements detected'
Lautenschläger expects SSM to expand beyond eurozone
Supervisory board vice-chair ‘anticipates’ that more countries will join the SSM when it is up and running; ECB has not received any formal applications to date
Malaysia’s Zeti sees investment as next step for Islamic finance
Governor of Bank Negara Malaysia calls for new infrastructure to facilitate the development of Islamic investment intermediation
ECB paper finds the Fed ‘well-served’ by its stress index
Researchers from ECB and Fed examine whether the economy behaves differently during periods of high stress, and the implications this has for policy-makers' models
IMF calls on Nordics to keep housing markets in check
Article IV reports warn Norges Bank will eventually have to normalise policy rate above inflation target and call for Swedish macro-pru measures targeted at households
China’s cooling property market ‘a challenge’ to growth objectives
RBA governor Glenn Stevens sees property market as a challenge to Chinese authorities’ growth objectives; Dallas Fed economists concerned about impact on shadow banking sector
Maltese banks see increase in non-performing loans
The domestic banks in Malta had to increase their provisioning levels further to respond to the credit risk, notes central bank
Europe doubles RMB transactions with Greater China in one year
European hubs fuel growth in renminbi usage with 10% share of global payments, after major financial hubs sign swap agreements with the People's Bank of China
RBI economist proposes financial conditions index for India
Index aims to provide a snapshot of financial conditions in the country in a bid to provide an early warning of crises and overcome information asymmetry
Counter-cyclical liquidity hoarding could ‘strongly amplify' business cycles, according to ECB paper
Paper develops a ‘new balance sheet channel of shock transmission' that works through the composition of banks' asset portfolios
Rating agencies must report on controls under new SEC rules
Amendments to SEC's credit rating agency rules focus on ensuring robust internal controls and preventing conflicts of interest