G20
Balancing reserves’ effectiveness and transparency
Why do countries accumulate more and more reserves if they know intervention may prove ineffective? Iris Yeung speaks to Canada’s Eric Wolfe
Capital rules may be too risk-sensitive, Basel fears
Complexity is slowing the roll-out of standards, says Basel Committee deputy
FSB says ‘significant work’ still needed on cross-border resolution
Work is progressing but major obstacles remain; FSB’s Elke König urges regulators not to lose “reform momentum”
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
Carney hails progress but Basel III must be completed ‘urgently’
FSB chair calls for more work on over-the-counter markets
Gaps in real estate data could threaten financial stability – Buch
Bundesbank vice-president highlights importance of monitoring credit conditions in tandem with house prices; G20 looks to data collected and distributed to fill gaps
G20 should create central bank blockchain group – think tank
Policy brief stresses the need for the G20 to be a leading figure in the blockchain debate; new consortium to discuss implications for monetary and fiscal policy
Some G20 initiatives have harmed EMs, says Mminele
Reforms have led to G-Sibs reassessing their business models, leading to a rise in de-risking, says Sarb deputy; Africa is seeing a “pronounced decline” in correspondent banking
Sarb deputy says G20 is ‘running the risk’ of being seen as inactive
Mminele says international leaders should intensify their “communication”, to foster inclusive globalisation; protectionist policies will not work in the current landscape, he says
Fintech is threatening universal banking as we know it – Carney
Carney highlights how fintech could threaten conventional banking through the provision of services; BoE governor also explores the pros and cons of a centrally issued digital currency
Weidmann urges central banks to promote economic and financial literacy
Financial literacy is crucial in underpinning trust in central banks, German governor stresses; advancements in technology will help to boost financial inclusion
Irish governor calls for better international finance data
Links between holders and issuers of instruments are badly understood, Lane says
The Chinese G20 presidency may mark a turning point
Mark Uzan defends the oft-criticised G20 communiqué, arguing the Chinese presidency of the global group has created genuine progress
Co-ordinated effort needed to raise growth – Lagarde
IMF chief says all policy levers must be used to halt low growth; G20 also promised reforms to provide “growth impulse”
Do not let resilience foster complacency, Carney tells G20
In his capacity as FSB chair Mark Carney acknowledges financial system resilience in the face of stress, but emphasises need to finish implementing post-crisis reforms
Sarb and Bundesbank expand co-operation
Annex to existing MoU will see Bundesbank representative based in the country; two central banks will work together on financial stability, among other issues
Carney airs scepticism on negative rates
Bank of England governor warns negative rates may only work through exchange rate channel, which would result in a ‘zero sum game’
PBoC's Zhou dismisses talk of renminbi devaluation ahead of G20 meetings
Chinese governor says country is 'opposed' to competitive devaluations; argues capital outflows likely to subside given 'strong fundamentals'
FSB agrees final TLAC principles but asset management work has way to run
Meeting in London sees the organisation agree final draft principles for total loss-absorbing capacity, as new branches of research into asset management risks sprout
Consistent implementation key to Basel III success, research notes
Boston Fed policy perspective highlights importance of consistent implementation of liquidity regulation across G20 jurisdictions
Zhou says markets have stabilised as G20 meetings end
The central bank governor says the renminbi and Chinese stock markets have largely finished correcting; G20 policy-makers pledge to avoid competitive devaluation
World Bank plans to put 'de-risking' on the global agenda
Banks are reportedly shutting down the accounts of customers in 'high-risk' category; the World Bank has begun work on the problem
Wilkins warns ‘a lot of work remains’ in implementing reforms
Canada’s senior deputy governor stresses need for coordination among regulators; suggests bilateral agreements could be useful given trend toward regional banking
G-20 leaders plan to scrutinise reform efforts
Leaders reaffirm commitment to reforms designed to raise global growth two percentage points and agree ‘robust monitoring framework’; OECD says reform progress has been patchy