Central Banking
Talking to firms aids central banks at ‘turning points’ – BoC paper
Qualitative information is particularly useful when timely official data is lacking, authors say
PBoC proposes tough antitrust rules for payments giants
Draft rules would give PBoC powers to recommend splitting up large payments firms
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Bank profitability affects impact of regulation – BIS paper
Rules for global banks only cut systemic risk among less profitable firms, authors find
IMF provides $2.7 billion ‘precautionary’ support to Panama
Liquidity line will act as “insurance” for Panamanian authorities grappling with Covid, IMF says
Brazil’s MPC removes forward guidance
Rate-setting committee forecasts it will raise policy rate by 125bp during 2021
Money market estimates vary significantly – Bundesbank paper
Policy-makers should be aware of widely differing research results
A digital opportunity to transform financial reporting
The Covid-19 pandemic raises the urgency of digitising supervision, say David Hardoon and Viswanathan Namasivayam
BoE adjusts stress-testing framework
Tests this year will be based on 2020’s reverse stress test, as banks face “ongoing operational challenges”
Swiss authorities confirm investigation of Lebanon’s central bank
Attorney-general’s office confirms probe into alleged “money laundering and embezzlement” at CBL
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
Research finds productivity impact from monetary policy
Paper sets out model of supply-side transmission channel, which can lead to flatter Phillips curve
MAS enhances cyber risk guidelines as risks grow
Authority warns “spate” of cyber attacks have targeted suppliers of IT services
New macroeconomic framework needed for recovery – Ghana governor
Public debt levels have breached maximum thresholds and NPLs are likely to climb, Addison says
Eurozone inflation remains stuck at -0.3%
Year-on-year inflation first fell into negative territory in August 2020
Banque de France pledges to drop coal-linked assets by 2024
French central bank will also cut oil and gas exposures, and oppose new fossil fuel projects
New IMFC chair warns against premature stimulus withdrawal
Magadalena Andersson lays out priorities for the IMF over the coming years
Sectoral shocks drive non-bank credit cycles – BIS paper
Authors explore interaction of bank and non-bank credit cycles
People: Philippines governor recovering after medical procedure
Benjamin Diokno steps back from duties temporarily, plus appointments in UK, Singapore and more
FCA clamps down on consumer protection breaches
Nearly 10% of firms see application for consumer investments blocked, data reveals
BoE reassures foreign banks on post-Brexit booking models
EU banks that lost passporting rights after Brexit are unlikely to have to establish UK subsidiaries
Central banks must mobilise their FX reserves
The pandemic and climate crises call for bold action, write Gary Smith and John Nugée
Eurozone needs major resolution reforms, Enria says
ECB supervisor says policy-makers should create new tools to deal with medium-sized banks
Romanian central bank cuts rates as inflation falls
National Bank of Romania says inflation is below midpoint of target level