News
BIS report points to benefits and costs of fintech lending
China, the US and the UK are the three largest markets, the working group’s report says
Greek bailout talks end without agreement
IMF fails to agree that commission concessions would make debt sustainable
Debelle: central banks can benefit from lack of covered interest parity
Increase in the “basis” or deviation from CIP is not always a sign of trouble and can offer reserve managers increased returns, RBA deputy says
RBI begins to wield new banking clean-up powers
Central bank puts pressure on banking sector to carry through plans to address non-performing assets; floats idea of supplying its own credit ratings to prevent “rating shopping”
ECB calls for insolvency and banking taxation reform
Europe would benefit from greater M&A activity in banking, European Central Bank says
Fed report finds many people left behind by growth
Survey finds nearly a quarter of Americans struggling to pay their bills; problems concentrated in less-educated segments of the population and minority groups
Sarb should leave monetary policy alone – IMF
South Africa’s current monetary policy stance is bringing inflation under control, fund mission says, advising the central bank to leave government reforms to do the legwork following downgrade
Central Bank of Egypt battles to contain devaluation impact
Inflation has rocketed since Egypt aligned official and black market exchange rates, forcing the central bank to take action
HKMA tightens macro-prudential measures for second time in a week
Hong Kong authority imposes another round of mortgage tightening measures, targeting home buyers with multiple loans and those whose incomes are not derived from the territory
Eiopa unveils 2017 stress test
UK real interest rates hit hard by Brexit aftermath, regulator says
Bank of Mexico tightens policy for sixth time in a row
Hike should stop temporary rises in inflation from passing through, says central bank board; leaves door open for further rate hikes, with one eye on inflation and the other on the Fed
New Glass-Steagall would not separate banks if implemented, says Mnuchin
US treasury secretary’s stance on banking reform appears to contrast with that of president Donald Trump, who has offered seemingly contradictory statements on regulation
US household debt surpasses pre-crisis peak
Household debt exceeds 2008 level for first time, driven in part by auto loans and student debt
ECB criticises Slovenian draft law on bank’s crisis actions
Disclosure of information would contravene European law, and the use of experts should be changed, the ECB says
Kashkari: Fed should not seek to deflate asset bubbles
Spotting bubbles is too difficult and the costs of failure too great, the Minneapolis Fed chief warns, although he concedes raising interest rates remains an emergency option
Zambia cuts interest rates again
Monetary tightening has tamed inflation but squeezed financial sector – IMF
People: Romanian deputy nominated; Belgium’s Dewatripont leaves central bank
Romania to soon have new deputy governor, pending parliamentary approval; National Bank of Belgium’s deputy Dewatripont leaves central bank; India creates CFO role; and more
Croatian governor: western Europe could improve NPL provisioning
Central and eastern European countries are leading the way in dealing with NPLs, says Vujčić
ECB issues guidance on leveraged transactions
Senior management must have a “comprehensive” view of all leveraged loans
IMF expands access to disaster funds
Economies are offered more generous thresholds for funding in the face of severe natural disasters
PBoC and HKMA announce Bond Connect scheme
The current phase only allows overseas institutional investors to invest in China's bond market
Zim’s Mangudya slams media amid reports of deepening crisis
Zimbabwe governor says "false" social media reports are direct attempt to discredit government and central bank efforts
SNB launches next new banknote alongside updated app
New 20-franc note incorporates the theme of light not only in design but also in identification of security features; Kurz foil element once again integrated
Lithuanian central bank calls for major pension reforms
“Time to put an end” to short-term political decisions on pensions, governor says