Financial Stability
Sri Lanka seeks return of money offered at Indian shrines
Sri Lankan central bank seeks to repatriate estimated 20 tonnes of coins offered as part of religious worship in India
Tanzania hits financial inclusion target early due to mobile surge
Benno Ndulu says the number of adults with access to financial services has doubled in five years; describes mobile phones as ‘critical link’ between the unbanked and the formal system
French paper warns buffers ‘may not be sufficient’ to avoid credit crunch
Banque de France working paper finds an increase in market pressure to hold more capital can ‘limit the ability of banks to expand credit’ and trigger a crisis
Euro banknote counterfeiting rises 4.4% year-on-year
‘Europa’ series will not address forgery problem until 2015; Eurosystem central banks urge consumers to ‘look, feel and tilt’ notes to look out for counterfeits
Robert Pringle’s Viewpoint: Start policy normalisation now!
Policy changes are needed to reduce the chances of another recession
UAE central bank to put Braille on banknotes
Emirati authority joins Hong Kong in using feature rejected by the Bank of England and Bank of Canada, on the basis that not all blind people read Braille
Former SEC chair urges US to accept use of NGAs for overseas swaps
Recent focus on US banks' use of non-guaranteed affiliates risks taking regulators down a slippery slope - issue could be tackled via disclosure instead, argues ex-SEC chair Harvey Pitt
BoE’s Cunliffe says leverage ratio is no mere ‘backstop'
Bank of England deputy governor says leverage and risk-weighted capital ratios serve different purposes; term ‘shadow banking’ casts a pall over productive aspects of non-bank financial services
Chiang Mai Initiative doubled in size to $240 billion
Financial safety net for China, Japan, Korea and the Asean nations doubled in size; Bill Allen describes the initiative as 'ornamental' as it has never actually been used
ECB sets out plans for disclosing comprehensive assessment results
European Central Bank on course to publish findings from its asset quality review and stress tests in late October; reveals the template it will use for disclosing the results
Polish financial stability goes from strength to strength, report says
National Bank of Poland financial stability report says banking system is more resilient than ever, but threats from the outside environment remain
Effective oversight needed to consolidate gains from mobile payments infrastructure
Increased diffusion of mobile payments in developing countries calls for better oversight, IMF paper says - recommending that central banks cooperate with other regulators
Bulgaria turns to the ECB in wake of bank failures
Collapse of Corporate Commercial Bank revealed extent of supervisory shortcomings that IMF warned of 15 years ago; Bulgaria now wants to join ECB's Single Supervisory Mechanism
Fed official reiterates forex options clearing guidelines
Lawrence Sweet highlights industry discussions around forex options clearing as key component of a private sector solution
Suriname governor says deeper international connections increase contagion risks
Governor Gillmore Hoefdraad says debate over housing macropru and monetary policy at the same institution is over, but the evolution of the instruments is ongoing
Carney tells parliament BIS report was 'made in a vacuum'; Kohn defends leverage ratio plans
Donald Kohn argues the case for a time-varying leverage ratio at parliamentary hearing; Carney and Bailey question practical application of BIS annual report
Bulgarian state to rescue majority of depositors at scandal-hit banking group
Central bank seeks law change as council claims banking supervision was only in the purview of one deputy governor; loan records apparently destroyed on purpose
Israel publishes first financial stability report
Bank of Israel repeats demand for new committee for setting macro-prudential policy in its first financial stability report since 2004
Financial Policy Committee angles for full powers over UK leverage ratio regime
Bank of England body poised to ask for lead role in design and implementation of leverage ratios in UK; move described as a natural fit
Fischer keen to add financial stability to Fed mandate
Fed vice-chair Stanley Fischer praises progress with reforms in his first speech since becoming second in command; open to reforming the Financial Stability Oversight Council
Balance between Hong Kong and Singapore ‘vital’ for financial stability
Researchers at the IMF find Hong Kong and Singapore complement each other as financial centres because they specialise in different markets and clienteles
Regulation may force some banks out of repos, says NY Fed's Davis
The New York Fed's head of financial market infrastructure, Jeanmarie Davis, says some banks will 'revisit their presence' in the repo business due to increased regulatory requirements
Central Bank of Colombia looks to Switzerland for help on financial stability issues
Colombian central bank signs two-year capacity-building agreement with Swiss authorities; Azerbaijan governor praises SNB's ‘technical assistance'