Central Banks
Fed points to non-financial risks at large US banks
US-based G-Sibs show weaknesses in AML, internal audit and IT risk, Fed says
People: Governors reappointed; Fed gets new CIO
Reappointments in Egypt and Palestine; Fed picks chief information officer; new financial stability head in Iceland
Climate prudential policies could ‘backfire’, IMF economists warn
Lack of international standards could result in ‘greenwashing’ and increased financial stability risks, economists warn
Ukrainian central bank accuses oligarch of intimidation campaign
Ihor Kolomoisky is behind “slanders” and violence “by hired thugs” over bank nationalisation, says NBU
US banks show signs of year-end funding concerns
Banks demanded nearly twice the amount of cash on offer in NY Fed’s new term repo
Brazil sells dollars as real falls to record low
Currency has fallen by 11.3% against dollar since July, as central bank cut interest rates by 150bp to new low of 5%
Fed’s Brainard calls for major framework overhaul
Yield curve caps, flexible inflation targeting and more active macro-prudential policy could help, governor says; Fed may have mistimed 2015 hiking cycle
‘Sectoral’ counter-cyclical buffer could boost resilience, says Basel Committee
Targeted tool would have a narrower impact on segments of the market
‘More effort’ needed to protect financial stability – RBNZ’s Orr
Central bank determined to raise capital requirements and improve behaviour in finance
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets. But will its efforts be enough to foil year-end pressures? Could opening the standing repo facility to foreign central banks help?
Cœuré flags risks to ‘autonomy and resilience’ of European payments
Central banks need to resist payment market fragmentation, says ECB official; Banque de France’s Beau calls for experimentation with wholesale CBDC
Greek cash limits should be scrapped, ECB argues
ECB says some caps are illegal and calls on competent authorities to decide on cash payment rules
De La Rue faces uncertain future as profits collapse
Profits plummet 87% as firm scrambles to cut costs
Home-ownership affected by culture, Bundesbank paper finds
Researchers find strong variation in home-owning by different US immigrant groups
RBA’s Lowe rules out QE in Australia
Governor stresses inflation forecasts converge to target in 2021, and rates could be cut if needed
BoE hits Citi with fine over reporting failures
Penalty marks first time PRA has sanctioned a systemic firm for regulatory reporting breaches
IMF paying closer attention to central bank independence, research shows
Central banks must “step up their game” on improving transparency, Tobias Adrian writes
Powell calls on lawmakers to help sustain record-long expansion
The right policies can help build on economic gains, Powell said
EU could take legal action against Slovene central bank law
Commission could act over lawmakers’ bid to force central bank repayments
Colombia’s central bank forms new climate research group
New team will look to integrate climate scenarios into macro models as central bank seeks to join NGFS