Financial Stability
Riksbank calls for FMI recovery plans
Sweden’s central bank concerned by the lack of recovery and resolution plans for the country’s financial market infrastructures; calls for changes at individual platforms and in legislation
European Parliament adopts banking rules
Parliament approves the single resolution mechanism and adopts rulebook on bank recovery and resolution; MEP Sven Giegold warns banking union is ‘not yet complete’
Czechs discuss appropriate capital requirements for Sifis
Paper sets out the range of indicators that could be used, and the advantages and disadvantages of focusing on an individual or consolidated level
Ingves touts simplicity of final Basel CCP rules
Chairman of the Basel Committee says final rules for banks’ exposure to CCPs show success of ‘relatively simple solutions’, which includes single approach for calculating capital requirements
Philadelphia Fed president calls for 'simpler' regulatory mechanisms
Simple, transparent regulatory mechanisms would make it easier for market participants to predict how regulators behave, and increase the effectiveness of the regulatory regime, Charles Plosser argues
Praet invokes Minsky to show importance of banking union
Europe's economies cannot converge by allowing 'catch-up' countries to ride a financial cycle upswing - as what goes up must come down, ECB chief economist tells conference
End of easy financing puts one-third of EM corporate debt at risk, IMF warns
IMF's Global Financial Stability Report warns emerging markets must take action to prepare for the end of quantitative easing in advanced economies
Caruana outlines path to recovery from global balance sheet recession
BIS general manager says global economy requires co-ordinated monetary, prudential and fiscal policies in order to recover from the recession caused by financial boom and bust
Central Bank of UAE opens first ever discount window
The Central Bank of the United Arab Emirates will introduce a standing liquidity facility next week, offering banks overnight loans at 100 basis points above official repo rate
DNB's Knot says EMU countries must stick to macroeconomic rules
Blame for the euro crisis should be shared between surplus and deficit countries, says Dutch central bank chief, who urges a strict adherence to rules governing monetary union
Fed finalises strict leverage ratio requirements for biggest banks
The Federal Reserve has finalised rule that will require systemically important banks to maintain leverage ratios of at least 5% from 2018
Early-warning indicators ‘crucial' where imbalances don't cause inflation
Hungarian paper singles out early-warning signals for macro imbalances that could be missed by a single-minded focus on price stability
Iceland prepares to phase out smallest banknote
Central Bank of Iceland hints at replacing the 500 krónur banknote with a coin, and scrapping the three lowest value coins altogether; introduced new 10,000 krónur note last year
US banks get stay on Volcker rule
The Federal Reserve has given banks until July 2017 to shed investments in collateralised loan obligations, potentially saving them millions of dollars
Weidmann would consider 'outsourcing’ SSM from ECB
Jens Weidmann tells Klaas Knot the ECB should consider ‘outsourcing’ the single supervisory mechanism once it is established
St Louis Fed research chief calls Bitcoin ‘stroke of genius'
St Louis Fed vice president and head of research has raised some central bankers' eyebrows by encouraging them to ‘welcome the competition' from the virtual currency
Danish governor repeats call to join banking union
National Bank of Denmark governor Lars Rohde insists it would be in the ‘best interests’ of the country to join the banking union; predicts ‘substantial impact’ one way or the other
BoE's Haldane says asset managers the 'next frontier' for macro-pru policy
Bank of England's head of financial stability says macro-prudential action may be justified 'even when leverage is not present and banks are not at the scene of the crime'
ECB paper tackles liquidity ‘free-rider’ problem
Working paper highlights ‘excessive liquidation’ caused by financial intermediaries free-riding on other firms’ liquidity holdings, but says macro-prudential policy can create ‘constrained efficiency’
Kenya's M-Pesa mobile money app launches in Romania
East European country is the first territory in Europe to get the mobile cash transfer technology, which also launched in India last year
Fed switches MBS purchases to proprietary platform
The New York Fed, which implements FOMC policies, will start using its FedTrade platform to buy mortgage-backed securities later this month
Carney-led FSB aims at international regulatory convergence
As systemically important banks internalise tougher regulatory environments, cross-border divergence in regimes may diminish, says FSB chair Mark Carney
Bank of Namibia replaces ‘ageing’ banknotes one year after issuance
Central bank reissued the lowest denomination banknotes in its 2012 banknote series after they were found to be ‘ageing faster than expected’
New Zealand’s loan restrictions finding their mark
Banks are reigning in their high loan-to-value ratio loans in response to central bank’s macro-prudential measures; IMF backs ‘tight limits’