Financial Stability
IMF makes $50 billion available to fight coronavirus
Kristalina Georgieva calls on IMF members to “fully recharge” catastrophe fund
Fed unveils new capital regime to criticism from Brainard
Federal Reserve says new rules will maintain capital levels, but senior official calls them “imprudent”
UK regulators checking firms’ virus contingency plans
Firms can use alternative sites or let staff work from home so long as regulatory obligations are met
Tough inspections help cut zombie lending, paper finds
Checking banks’ assessments of asset quality cut loans to non-viable firms – Bank of Portugal paper
How could the coronavirus affect the world economy?
Central banks may lack firepower, while public health readiness differs sharply between countries
ECB mulls wider clearing house access to account facilities
Including CCPs in the Eurosystem may remove the need for them to seek a banking licence
BIS research finds 20% drop in active correspondent banks
Retreat from correspondent banking could drive people into “unregulated channels”, authors warn
Chinese banks probably concealing NPLs – Finnish paper
“Hidden NPLs” particularly common in large and well-capitalised banks, researcher argues
Canadian mortgage tweaks may add to housing imbalances – economists
Government’s policy change likely to lower qualifying hurdle for mortgages in the near term
Ghana’s Addison on banking reform, innovation and the future of the eco
Bank of Ghana governor says Ghana is unlikely to join eco anytime soon
Book notes: After the crash, by Sharyn O’Halloran and Thomas Groll
Book seeks to identify seeds of next crisis, and overriding impression is a plea for more regulation
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy
Green finance needs better data, Visco says
Bank of Italy’s portfolio has improved since it began examining ESG scores, governor says
IMF warns Zimbabwe’s economy is in crisis
“Deep humanitarian crisis” likely as authorities fail to reform or work with donors, IMF board says
IMF staff says Congo must stop central bank financing
Report warns reserves are being eroded and says government must repay central bank
New body will share EU intelligence on cyber-threats
ECB, Europol and the EU Agency for Cybersecurity join forum to share cyber security information
Finance firms must take further steps on climate change – Carney
BoE governor calls for broadening of climate effort, including push for better risk management
Bank of Mexico cuts growth outlook on virus fears
Central bank says future growth is highly uncertain after Mexican economy contracted in 2019
Trust is crucial to eurozone interbank markets – ECB paper
More bank failures or longer-lasting crises lead to smaller interbank markets, researchers find
BoE to impose Libor-linked collateral penalties
Andrew Hauser says regulators will employ carrots and sticks as deadline for transition looms
Cyber risks cost 2-3% of profits at banks and insurers – RBNZ research
New Zealand central bank finds chance these threats may cause much greater losses
‘Systemic cyber incidents’ could cause major damage – ESRB
EU body says cyber attacks could reach “tipping point” and freeze financial sector
Cost of AML/CFT regulation could spell trouble for Barbados
Central bank governor urges financial firms to take risk-based approach
Why Bulgaria needs to deepen its currency board
Bulgaria’s currency board rules should be extended to transaction deposits at commercial banks