The Americas
Replacing migrant labour will prove costly for US agri – research
Study by Kansas City Fed says farm operators may respond by shifting to foreign production
Systemic banks prioritised in onsite inspections
Supervisors’ activities commonly include interviews, reviews and verifications
Onsite inspection frequency tailored to individual firms’ risk profiles
All authorities in high and middle income countries engage in risk-based exercises
Pillar 2 supervisory requirements broadly decided at national level
Only 15% of authorities operate regional supervision offices
Supervisors rate resource sufficiency higher than staffing
Annual salary of supervision officials averages just over $40,000
Most supervisors have mandate to oversee non-banks
Supervision department staff average just over 150 individuals
NY Fed’s push for repo haircuts gets a tepid response
New risk management standards could make it harder to finance US Treasury purchases
Hedge funds scale back steepener positions as risks rise
Uncertainties around US Treasury issuance and timing of Fed rate cuts see investors trim ‘consensus’ trade
Brain drain at OCC raises concerns about US model supervision
Quant team cull will reduce capacity to validate bank models, but that could be part of the plan
Bowman is latest Fed member to call for July rates cut
Vice-chair for supervision joins Waller in saying risks to growth outweigh risks to inflation
Fed maintains wait-and-see approach with rate hold
Powell ignores Trump’s calls for easing amid president’s continued insults
US Basel III delay to 2026 seen as almost inevitable
Reprioritisation and leadership changes cast doubts on timing of new proposals
Central banks favour instant payments over CBDCs
Interoperability of systems and financial inclusion drive decisions among survey respondents
Near-24/7 RTGS systems more susceptible to outages
Central banks with longest uptime also report highest number of contingency sites
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows
Most central banks operate RTGS seven to 12 hours daily
Respondents processed over $6 trillion via system in 2024
Number of non-banks with RTGS access rises year on year
Middle income central banks account for largest number of connections
Half of retail payment sectors saw diversification last year
Changes include regulations, technology and rate of participation
Two-fifths of central banks leave payment fees unregulated
Middle income institutions more likely to regulate prices than other respondents
Larger teams more likely to oversee payments networks
Most central banks have general mandate to safeguard all payment systems
Quarter of payments departments report resourcing issues
Average number of FTE employees increases year on year to 40
Trends in reserve management 2025: survey results
Insights on strategies in anticipation of tariffs, interest rate divergence and geopolitical risk, FX diversification and de-dollarisation, as well as bitcoin in reserves, FX interventions and gold
Fed official: SLR tweaks likely unbundled from Basel III
Complexity of endgame proposals means any leverage ratio changes will probably be proposed separately