United States
CFTC’s fintech catch-up effort includes ‘global sandbox’ push
Chairman Christopher Giancarlo says the US derivatives regulator is seeking co-operation agreements around the world
Quarles: yield curve flattening not “likely” a signal of recession
Flattening of yield curve is due to “expected lags” in the adjustment of longer-term rates once shorter-term rates start to rise, says Fed vice-chair
Fed forecasts overcompensate for trend deviations, paper says
Federal Reserve tends to “overpredict” growth when the economy is running below trend
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
Student debt has wider ramifications for US economy – Harker
Older generations are taking on new debt to help younger family members
Quarles advocates end to ‘micromanagement’ of supervised banks
Fed’s vice-chair for supervision aims to preserve a secure financial system and foster efficiency
CFTC’s Pan: PFMIs not a template for global regulation
US regulator has previously warned EU supervisors not to unpick hard-won equivalence agreement
Clarida and Bowman nominated to Fed
Monetary economist and community bank specialist picked to fill vacancies on Fed board
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
Irish deputy governor warns of Brexit risks
But Ed Sibley says “much of the heat has gone out of regulatory arbitrage issue”
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Fed outlines simplified capital regime
“Stress capital buffer” would likely raise capital requirements somewhat for many of the largest banks and lower them for the smallest, the Fed says
People: Guo Shuqing secures position as head of regulator
Guo to be first official leader of the China Banking and Insurance Regulatory Commission; Atlanta Fed names new vice-president; and more
Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges very low unemployment has been accompanied by other signs that the labour market may be operating below potential
Financial literacy is ‘essential’, says Fed’s Bostic
Atlanta Fed president says financial literacy is key component to achieving employment mandate
No one can win a trade war, says Benoît Cœuré
Senior ECB official says US growth could be cut by 2.5% by tariff hikes
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Student debt becomes a bigger threat to US financial stability
The debt has surpassed auto loans and credit cards, and now only trails mortgages
Fed’s Brainard notes pro-cyclical challenges to supervision
Fiscal stimulus at a time when the economy is running hot requires vigilance, governor says; stress tests cannot counter all pro-cyclicality in credit
New York Fed launches rates replacing US Libor
New rates are calculated using actual interbank transactions