Financial Stability
Basel Committee drafts new resilience guidelines
BCBS consults banks on safeguards against operational risks such as pandemics and cyber attacks
Turkish central bank issues brief statement as lira hits record low
Lira hits lowest-ever level against dollar and euro as central bank’s response remains unclear
BoE runs ‘reverse stress test’ to prepare for renewed Covid crisis
Banks may have to take drastic “defensive actions” if UK suffers another major shock, BoE says
World Bank grants Vietnam $6.2 million Covid-19 aid
Central bank deputy says support is ‘meaningful and necessary’ as virus returns to country
IMF agrees aid for small Southern African countries
IMF says Eswatini and Lesotho face major challenges from pandemic and structural problems
Detail matters when monitoring external imbalances – IMF research
Gross external debt is one of the clearest signs of vulnerability, study finds
Covid-19 challenges IMF debt-restructuring framework
Process needs tweaking to address pandemic-related issues, former IMF general counsel says
MAS recognises first ‘significantly rooted’ foreign bank
StanChart’s new status will give it some of the same privileges as locally incorporated banking groups
IMF economists call for action on global imbalances
“Excessive” imbalances exist in 40% of cases, though they have narrowed slightly
Argentina strikes deal to restructure $65bn debt
Next step could be a return to programme negotiations with the IMF
Claudia Buch: ‘We need higher transparency’ on resolution
Bundesbank vice-president discusses progress towards ending ‘too big to fail’ and the gaps that remain
BIS’s Restoy: Covid-19 blurs lines between policy instruments
Prudential policies have taken on an explicit economic stabilisation role for the first time, official says
ECB says pandemic measures have been effective
Response to Covid-19 pandemic lowered bond yields and may have stopped financial panic
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
Flight to safety was not enough to fund credit line draws – Fed research
Many banks had to turn to non-deposit forms of borrowing, researchers find
South Africa must reform in return for $4.3 billion aid – IMF
Government must protect smaller banks and outline reform package by October, IMF says
Enria announces major change to ECB banking supervisor
SSM will have two new departments, and focus on banks’ business models, says Enria
‘E-money’ is boosting financial inclusion in Philippines – deputy governor
“E-money” system has driven rise in citizens with bank accounts, BSP says
BoE awards Accenture RTGS overhaul contract
Consultancy firm wins contract worth up to £150 million for payments system upgrade
UN says rival Libyan central banks will be audited
Central bank is depository for civil war-torn country’s vital oil earnings
ECB extends eurozone banks’ dividend payment pause
Enria says banks face “radical uncertainty” over pandemic’s economic impact
FCA presents new design for financial services register
UK regulator says website aims to boost consumer protection and make key data easier to find