Financial Stability
UK watchdog unveils curbs on illiquid funds
Some open-ended funds will now have to make contingencies for stressed market conditions
IMF warns Ukraine to protect central bank independence
Governor calls for end to pressure on reformers as court reinstates senior official
Corporate debt levels would amplify downturn, Brainard warns
CCyB should be used when stability risks are inconsistent with dual mandate, governor says
Banque de France research takes fresh look at eurozone interbank markets
Secured interbank markets not bounded by ECB’s deposit facility rate, results show
Mortgage caps can be higher for insured borrowers – DNB paper
Loan-level data from Netherlands shows insurance cuts risk of non-performance, say researchers
Bank of Israel grants digital bank licence
Israel joins growing list of jurisdictions permitting online-only financial services
RBNZ to boost transparency on regulatory breaches
Central bank presses ahead with plan to report “material breaches” by banks on its website
Turkish central bank steps up efforts to increase bank lending
CBRT makes second move to use reserve levels to sharply increase credit growth
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
NY Fed president sends warning on Libor transition
Firms “sticking their metaphorical heads in the sand” must act now, Williams says
Swift conducts 13-second cross-border payment
Trials saw payments go from origination through to clearing and settlement in seconds
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities, IMF officials warn
ECB prepares for ‘big bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
EU seeks to offer reassurance on Brexit clearing exemption
Commission can act quickly to stave off no-deal market disruption, insists official
New York Fed provides emergency repo market support
Overnight rates surged on September 17, breaching the Fed’s policy rate target band
BIS’s Restoy calls for further action on resolution frameworks
Work on finalising crisis-management framework is not complete, says Financial Stability Institute head
RBNZ flags insurers’ weak governance and risk controls
Conduct and culture review finds un-updated data, poor customer eligibility and products charging excessive premiums
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Papua New Guinea upgrades payment system
More financial institutions to use new central switch in bid to improve efficiency and inclusion
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Norges Bank lays out plans for collateral management during resolution
Liquidity assistance in a resolution will “never” be a long-term solution, Torbjørn Hægeland says