Non-bank sector
BoE begins work on non-bank emergency backstop
Central bank planning to roll out facility to insurers and pension funds as first step
Banks increasingly reliant on ‘flighty’ finance, BIS finds
Money market funds are taking on an even greater role as funding sources, research says
Aruba accuses Curaçao of regulatory failings
Spat between central banks comes amid ongoing problems with troubled insurer Ennia
Non-banks taking on significant ‘hidden leverage’, FSB warns
Off-balance-sheet positions have grown, but data on many parts of the system is poor
FSB chair says world faces ‘pivotal’ moment
Tight policy and slowing growth signal financial stability problems ahead, warns Klaas Knot
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops
BIS paper’s guide to monitoring ‘highly leveraged’ non-banks
Using new data sources can help to shed light on an opaque sector, authors say
Fed leadership divided on proposed capital rules
Powell warns rules could push activity into shadow banking
Collateral use could destabilise markets, BIS economists warn
Borio and co-authors highlight “seismic shift” in markets and call for action by policy-makers
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
FSB and Iosco renew push to tackle liquidity mismatch
Many opened-ended funds failing to use liquidity management tools effectively, say global regulators
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
BoE policy-maker flags perils of ‘dynamic leverage’
Market participants need to fully understand the consequences of fund structures, says Jonathan Hall
BoE launches first ‘system-wide’ stress test
Analysis will assess how banks and non-banks interact to amplify shocks
Common deposit insurance essential for financial stability, says ECB
Central bank says tighter financial conditions are putting pressure on households and businesses
Non-banks key to ‘absorbing’ sovereign debt – BIS paper
New database of key players in sovereign debt markets reveals EME reliance on non-banks
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
What are the systemic lessons of SVB?
Philip Turner says the collapse of SVB reveals deeper issues than many have realised
To repo or to buy? Non-bank liquidity backstops still elusive
BoE’s Hauser and Fed’s Logan flag major design challenges in building ideal market backstop
Non-banks tend to cut lending during crises – BIS paper
Evidence from syndicated lending suggests growth of non-banks could exacerbate crises
FSB says commodities markets are opaque and vulnerable
Highly concentrated market is reliant on leverage and short-term funding, report finds