Financial Stability
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
RBNZ stresses need for clarity on climate disclosures
Taxonomies need to be harmonised and disclosure frameworks reviewed
NGFS suggests central bank climate policies
Green network advises measures to reduce financial risk and promote decarbonisation
Irish central bank levies record fine for misconduct
CBI fines Ulster Bank Ireland €37.7m over serious failings in “tracker mortgage” scandal
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Federal Reserve to end payout caps for better-capitalised banks
Fed will lift limits on payouts and buy-backs for banks passing stress tests on capital levels
Myanmar central bank fines lenders over protests – reports
Authorities attempt to force private banks to reopen as strike campaign continues, reports say
Bank regulation can ease non-bank distortions – BIS paper
Authors challenge common narrative that bank regulation can worsen non-bank instability
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Fed to launch new committee on climate risk
Brainard says body will focus on systemic dangers and warns hazards are hard to forecast
Funds’ synthetic leverage should be monitored – Bundesbank paper
Researcher presents new method for assessing one type of risk-taking by mutual funds
IMF cautions Marshall Islands on digital currency plans
Institutional framework to accommodate the sov is not ready, fund says
Wholesale CBDCs may not fix cross-border frictions – panellists
Policy-makers question whether CBDCs will make international payments faster and cheaper
ECB’s de Guindos calls for prompt action on climate change
ECB warns of “systemic risk” as it unveils preliminary results of eurozone-wide climate stress test
Credit line exposures worsened Covid bank stock crash – NBER paper
Authors suggest “contingent leverage” could be included in stress tests
UK’s FCA lays first-ever criminal charges of money laundering
Regulators charge NatWest with failing to monitor transactions; bank faces unlimited fine
BoE’s Woods says PRA needs more rulemaking powers
PRA chief dismisses “caricature” of the “rampant regulator intent on crushing the industry”
IMF delays SDR valuation review
Delay reflects priority placed on Covid-19 response and possible clash with other workstream