News
CCAR ‘apocalypse’ leads to excess bank capital, says lobbyist
Head of new trade body says Fed should average capital requirements over multiple scenarios
Banks tend to game stress tests, Fed economists say
Models tend to be subject to “strategic adjustments”, paper finds
Implementation of new Sofr rate is “ahead of schedule”, says Fed vice-chair
Implementation of new ‘Sofr’ rate is “ahead of schedule”, says Fed vice-chair
Trump criticises Fed over rate rises and threatens higher tariffs
US president says rate hikes are “taking away our competitive edge”
MAS strengthens use of data to combat financial crimes
Singapore central bank will roll out revised reporting forms and reporting platform in August
Philippines considers boosting central bank capital
Central bank announces big rise in Q1 income
Branching out: foreign banks seek shelter from Fed rules
Foreign banks stashing repo businesses within their branches, outside Fed’s full gaze
People: Olli Rehn enters office as Bank of Finland governor
PBoC governor joins G30; new board members appointed at Barbados’ central bank; and more
ECB’s easing policies reduced inequality, paper says
Overall effects of monetary policy on income inequality are modest, paper finds
Infrastructure financing not harmed by post-crisis reforms – FSB
First study of regulatory impact on intermediation finds infrastructure finance largely unscathed
Central bank digital currency a ‘terrible idea’, US Congress told
Move to central bank cryptocurrency would make Fed “overwhelming credit allocator” - researcher
Ugandan governor says central bank not ‘obliged’ to bail out banks
Bailouts could encourage mismanagement, he says
Carney: Brexit could trigger ‘extreme fragmentation’ of EU markets
Lack of agreement on derivatives likely to be more costly for European markets than UK ones, BoE governor says; stance contrasts sharply with European Commission
US expansion set to continue despite trade disputes – Powell
Protectionism may still negatively affect economy, Fed chair concedes
PBoC warns businesses not to reject cash
Businesses are being given one month to rectify their practices
Trump tariffs could force Fed’s hand – IMF
US central bank could be forced to raise rates more quickly if tariffs force prices higher
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy and calls for better debt management infrastructure
ECB approves of proposed NPL backstop
European Commission’s proposed law change will not prevent supervisors from ordering banks to increase coverage – ECB
Croatian parliament reappoints Vujčić as governor after delay
Economist turned politician becomes deputy governor; three vice-governors also appointed
Podcast: David Vines on how to reform the DSGE model
Oxford University’s David Vines believes the New Keynesian DSGE model is salvageable – but needs some serious work
Regulators using blockchain for KYC data sharing
Central Bank of Colombia and Federal Reserve Bank of Boston collaborate with R3 on KYC pilot
IMF demands reinforced inflation targeting in Argentina
A new central bank charter should reinforce independence, fund says
Cyprus bail-ins were justified, ECJ rules
Court rejects claims of unfair treatment from bondholders, shareholders and large depositors
European Court of Justice overrules ECB on French banks’ leverage
ECB’s reasoning on treatment of French savings accounts was “manifestly incorrect”, court rules