Financial Stability
RBNZ appoints KPMG to report on data breach
Report due by end of March and will be considered with Deloitte review of accidental leak
Riksbank extends swap agreement with Fed
$60 billion line set up in response to Covid-19 extended until end of September 2021
Penalty fears drove US funds’ March run – NY Fed paper
Research finds “sophisticated” investors respond to asset signals but retail investors do not
Eurozone banks must not delay action on credit risk – Enria
Supervisor calls on banks to use capital buffers in order to maintain adequate credit levels
Philippine central bank gains powers over crypto assets
Revised regulations create “unbroken chain of regulated entities” for virtual asset providers
IMF warns of possible market correction
Withdrawal of central bank support might trigger shock, say Tobias Adrian and Fabio Natalucci
Carstens calls for ‘comprehensive’ oversight of big tech
BIS chief highlights “data-network-activities loop” driving big tech growth
Fed creates committee on climate change impacts
New York Fed supervision chief moves to DC to chair new body
ESM to become backstop to Single Resolution Fund
Revised treaty enhances fund’s role in future adjustment programmes and crisis prevention
Central bankers debate next steps on climate change
Jens Weidmann argues for independent agency to relieve burden on central banks
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
ECB grants post-Brexit reprieve on large exposures limit
Exemption for intra-group exposures to UK will be preserved pending a decision on equivalence
Bundesbank paper estimates effects of Fed’s QE policies
Purchases of private securities were most expansionary measure, researchers find
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
ECB steps up work on climate change
Central bank launches climate change centre and invests in new BIS green bond fund
Nordic and Baltic countries ask IMF for money laundering report
Move follows string of scandals over massive AML breaches in Baltic and Nordic banks
Raising equity is best for bank recapitalisation – BIS paper
New capital is preferable to asset sales, which can cause systemic problems, authors say
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
DNB paper looks at announcements of LTV ratios
Effectiveness of macro-prudential measure is considerably affected by design, researchers say
PBoC proposes tough antitrust rules for payments giants
Draft rules would give PBoC powers to recommend splitting up large payments firms
Bank profitability affects impact of regulation – BIS paper
Rules for global banks only cut systemic risk among less profitable firms, authors find