Financial Stability
Macro-pru can alleviate stress – Portuguese paper
Co-ordinated macro-prudential and fiscal policies can alleviate credit contractions, paper finds
Capital and liquidity rules work better together, BoE paper finds
Literature review finds having both requirements is better than just one, but “significant gaps exist”
Central banks need more data and better measures on climate – BCBS
Basel Committee may re-evaluate risk framework to account for effects of climate change
Ukraine’s central bank orders transparency for non-bank sector
Non-banks must disclose all beneficial owners to NBU and reform ownership or face losing licences
PBoC’s Yi says central banks can contribute to net zero
Mandatory disclosures and stress tests are needed to incentivise market’s transition to green economy
BoE broadens access to RTGS with ‘omnibus’ account model
Accounts will allow payment system operators to ‘pool’ client funds for transfers in central bank money
RBI to give some non-banks access to payments systems
Indian central bank to allow non-bank payment service providers to use payments architecture
Book notes: The political economy of bank regulation in developing countries, edited by Emily Jones
A pioneering academic – but reader-friendly – monograph on the response of peripheral countries to Basel standards
PBoC to more than double scope of stress tests
Chinese central bank will stress-test over 4,000 banks and plans to include all banks by 2023
‘Dark trading’ approach shows UK regulators are more ‘nimble’ – FCA
UK regulator has not seen evidence that dark trading harms market participants
Bank of Canada warns of possible housing pressures
BoC research highlights “vulnerabilities” as banks issue more high loan-to-income mortgages
Regulating big tech and non-bank financial services in the digital era
Experiences from China highlight potential benefits of digital-bank and holding-company approaches
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
Lebanese finance ministry and central bank clash over forensic audit
Central bank to release documents to independent auditors this month, finance ministry says
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
Money markets in focus for FSB non-bank work
FSB set to publish policy proposals for tackling risks in July
Bank of England targeted in Extinction Rebellion protest
Front entrance daubed in “fake oil” as part of wider protest against financial sector
RBNZ eases dividend restrictions
Deputy governor says NZ economy has rebounded more strongly than expected
IMF calls for ‘urgent efforts’ on non-bank macro-pru tools
Fund warns of trade-off between support now and risks in the future
Bank of Ghana using data to close gender financial inclusion gap
New systems collect gender-disaggregated data on a number of financial products and services
Peru’s Velarde condemns interest rate cap law
Central bank gains power to fix maximum rates every six months
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Critiquing Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
Major asset managers commit to support net-zero carbon transition
Tackling climate change is “one of the greatest commercial opportunities of our time”, says Mark Carney