International
MAS chief laments ‘data localisation’
Misguided notions of data security threaten digital growth, says Menon; central bank further strengthens fintech support
FSB finalises ‘cyber lexicon’
Common language seen as important step towards closer cyber co-operation globally
People: Sri Lanka’s central bank promotes two new deputy governors
Attygalle and Karunarantne become deputy governors, Kilponen to succeed Välimäki at Bank of Finland, IMF promotes representative in Argentina, and more
Standard-setters can only partially support inclusion – BIS’s da Silva
Standard-setters can balance risks and opportunities, but cannot tackle deeper structural issues
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Payments changes far more important than bitcoin, Carstens says
Work on card and mobile phone payments is of “immense importance” – BIS general manager
BIS committee finds inadequacies in derivatives data
Challenges remain, despite significant progress, Irving Fisher Committee reports
US policy has greater impact on non-US leverage than domestic policy, paper finds
The phenomenon is complex for policy-makers, authors say
Carstens: regulators must promote ‘orderly assimilation’ of tech
Technology should bring benefits, but may threaten “integrity” of financial markets, BIS chief says
IMF’s Adrian calls for forecasting upgrade
Policy forecasts should do a better job of capturing endogenous risk, economist says
US policy tightening heightens chance of crisis for close partners, paper finds
Countries should diversify their global trade exposure, Federal Reserve economists say
Agent-based models: a new frontier for macroeconomics?
Agent-based modelling is opening up new possibilities for economics, but the discipline is still struggling to move from the sidelines to the mainstream
Populist policies can wreck economies, Sarb governor warns
South Africa needs economic stability, Kganyago says
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
Sarb’s Mminele calls for action on benchmark reforms
There is a considerable amount of work to be done before the transition, Daniel Mminele warns
Bruno and Shin investigate EM firms’ dollar vulnerabilities
BIS paper highlights negative effects of US dollar strength on emerging market firms, as figures show dollar borrowing is still on the rise
Basel Committee moots changes to leverage ratio
Regulation could be amended to mitigate central clearing impact; committee also critical of banks’ “window dressing” behaviour
BoJ governor offers advice on domestic resilience to external shocks
Central bank co-operation and communication are crucial for domestic resilience, Kuroda explains
Basel Committee finalises streamlined stress-testing guide
Updated principles reflect “rapid evolution” of stress-testing since 2009
Regulation could stabilise crypto asset market, experts argue
Uncertainty remains over what regulatory approach to take, but collaboration appears key, say webinar panellists
People: San Fran Fed appoints head of research
Sylvain Leduc becomes head of research at San Fran Fed; Shonubi approved as deputy in Nigeria; two front-runners to lead FSB; Iceland appoints head of new IT division
Emerging market governors back targeted capital controls
Governors says capital flow measures can be important tools in some circumstances
Mexico’s Guzmán worried about protectionism
Difficult to understand why given the experience during the Great Depression, the governor said
Chinese governor stresses trade risks at IMF meeting
Yi Gang says protectionism has already damaged global business confidence