Financial Stability
BoE survey shows record-level concern about sovereign risk
Record 94% of respondents cite sovereign risk as a concern in the Bank of England’s latest systemic risk survey, but confidence in the UK financial system and funding markets rises
National Bank of Denmark rejects Liikanen report
Danish central bank governor says nations should be able to opt out of proposed Liikanen banking rules; favours bail-inable debt
ECB’s Cœuré champions retail payments integration
Benoît Cœuré says the Single Euro Payments Area increases efficiency and lowers costs; wants governing council to have a ‘self-regulatory focus’
Bank of Israel unveils details of new shekel banknotes
New banknote series to include security features that are ‘among the world’s most advanced’; first notes due to be introduced in second half of 2013
Fed includes ‘doomsday scenario’ in next round of stress tests
Baseline, adverse and severely adverse scenarios specified in preparation for 2013 stress testing; 'severely adverse' would cover failure to resolve ‘fiscal cliff'
National Bank of Rwanda highlights payments progress
The number of ATMs, points of sale and debit cards in use has grown rapidly
Basel Committee chief sets out next steps for regulation
Stefan Ingves reveals timescale for finalising liquidity coverage ratio and gives details of the Basel Committee on Banking Supervision’s agenda for 2013
Bundesbank concerned by escalating stability risks
German central bank’s financial stability review warns of a build-up of risks with echoes of past crises, but says the German financial system has become more robust during the past five years
Regulators called on to restrict loan modelling choices
Less modelling freedom makes sense, says loan data expert – and the alternatives would be far worse
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Latin American fiscal rules 'have helped some countries'
A study by the Bank of Spain finds the adoption of fiscal rules has helped some Latin American countries to reduce procyclical fiscal policy. But the rules are no panacea
RBI’s Sharma laments failure of derivatives markets in India
The interest rate swaps, credit default swaps and interest rate futures markets have all failed to take off as hedging markets in India, likely due to onerous regulation, says RBI executive director
Mutuals warn of capital threat from UK 'twin peaks' regulation
Guidance needed on treatment of with-profits fund surpluses under new supervisory regime
Netherlands Bank’s Knot says regulation is inadequate
Former Basel Committee risk head Klaas Knot and Bank of England’s Michael Cohrs say regulation is not sufficient to rehabilitate financial culture
Portuguese and Irish officials support banking union
Bank of Portugal governor and Central Bank of Ireland chief economist offer support for the creation of a deposit guarantee scheme and banking resolution fund in Europe
IMF’s Lipton cools recovery talk
Greater euro area and US progress is needed to avoid another global downturn; more co-operation required on regulatory reform
MAS moves to bolster payments supervision
Bill introduced into parliament to amend Payments Act would enable Monetary Authority of Singapore to act faster in cases of emergency
Finnish paper proposes further ATM regulation
Largest ATM provider in Finland has foreign fee it can charge capped; socially optimal level only reached with regulated interchange fee
FSB to hold non-compliant G-20 countries to account, says Carney
The Financial Stability Board will ‘name and shame’ countries that fail or attempt to avoid new global regulations aimed at improving financial market stability
Norwegian regulator to ease internal model timetable in wake of Solvency II delays
France's regulator also considering adjusting pre-approval schedule
Bank of Canada issues C$20 polymer bank note
Canadian central bank moves to replace most popular – and most frequently counterfeited – banknote as part of its migration to polymer currency
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an 'Ice Age' in the derivatives market
Bank of Mauritius struggles to buy-back debt, says governor
Rundheersing Bheenick says central bank is struggling to buy back bonds it was forced to issue to mop up excess liquidity
BoE’s Bailey preaches simple supervision
Bank of England executive director wants basic supervisory tools to support complex risk-based analysis