Financial Stability
Cœuré flags risks to ‘autonomy and resilience’ of European payments
Central banks need to resist payment market fragmentation, says ECB official
BoE hits Citi with fine over reporting failures
Penalty marks first time PRA has sanctioned a systemic firm for regulatory reporting breaches
Colombia’s central bank forms new climate research group
New team will look to integrate climate scenarios into macro models
Focus on cross-border payment systems, not CBDC – Bundesbank official
German central bank board member says “fast and efficient” payment network should take priority over digital currency development
Mester calls for cyber stress-testing in US
Adopting or adapting practices like the Bank of England’s would be worthwhile, she says
Lagarde says eurozone must end export dependence
Call to boost demand is likely to be seen as aimed at German policy-makers
Cleveland Fed paper examines stress tests’ impact on lending
Some banks cut back on business lending, but community banks take up the slack, paper finds
US Democratic senators call for Fed to act on climate change
Fed has been “ignoring” financial risks of climate change, Democratic senator says
FSB’s G-Sib list increases by one
One joins the list and one major bank drops to a lower bucket
Bank of Canada plans new emergency liquidity facility
Facility designed in response to new threats, such as cyber and extreme weather events
RBI to resolve first non-bank under revised bankruptcy code
Move could set precedent for wider financial sector clean-up as fallout from liquidity crunch continues
Climate risks may be uninsurable – DNB’s Elderson
NGFS chairman calls on the implementation of a carbon tax to help mitigate these risks
Eurozone should look at raising capital buffers – ECB paper
Impact on growth of 50-basis point rise in counter-cyclical buffers would be limited, researchers say
Riksbank warns of rising financial stability risks in Sweden
Global economic slowdown and continued low rates may encourage greater risk-taking
Australia’s AML regulator takes action against Westpac
Large lender found to have breached AML regulation millions of times
RBNZ sanctions bank over capital calculation errors
Bank of New Zealand appears to have misreported risk weights for several years
US market liquidity deteriorated in 2019, Fed warns
Frequency of equity market flash events has increased significantly since 2018
Irish central bank publishes sanctions guidance
Some banks still expect good settlements despite “obstructionist attitude”, senior regulator says
Das: RBI toughening its supervisory approach
Central bank is focusing on developing specialist supervisors after financial instability
Debelle analyses impact of mortgage arrears
Mortgage arrears are at historical low, Australian deputy says
Dutch governor warns of unconventional policy hazards
Knot also argues for expansionary fiscal policy and symmetrical inflation target