Bankruptcy
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Activist claims Bailey ‘not fit’ to govern BoE
High-profile activist criticises Bailey and FCA in new report, calling for investigation into his appointment
RBI to resolve first non-bank under revised bankruptcy code
Move could set precedent for wider financial sector clean-up as fallout from liquidity crunch continues
RBI stands firm on stressed assets as Supreme Court deliberates
Central bank says it has not softened stance, but court could force it to grant forbearance
RBNZ suggests eliminating minimum Tier 2 holding
New Zealand’s central bank proposes dramatically increasing Tier 1 to reduce resolution risk
Spanish ex-governor will not face charges over Bankia case
Former IMF managing director will face charges over collapse of Spanish commercial bank
RBI closes in on ‘endgame’ in bank clean-up
Governor Urjit Patel says the central bank’s new powers have allowed it to overcome “severe” moral hazard problems; state-owned banks will need recapitalisation, he says
Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra; depositors will be able to access their money from July 24
US authorities explain living will review process
Largest banking groups must hand in resolution plans by July 2; preliminary reviews will be completed within 60 days say FDIC and Fed
Bankruptcy does not exclude consumers from credit markets: Fed paper
Federal Reserve study finds evidence that bankruptcy filers are not excluded from unsecured credit markets but usually pay a higher premium for finance
CoCos will realign incentives of too-big-to-fail: SNB's Danthine
Swiss National Bank governing board member Jean-Pierre Danthine says measures requiring firms to hold contingent convertible capital will reduce moral hazard associated with too-big-to-fail
Buba paper on benefits of cocos
Bundesbank study says benefits of contingent capital may lead to its incorporation in firms’ financing mix without mandate
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
Plosser slams Senate proposals on Fed reforms
Philly Fed president Charles Plosser criticises recent Senate bill for politicising Fed appointments
Philly Fed: banking sector returns to profit
Report for fourth quarter notes bank failures also dropped
BoJ improves payments and settlements after crisis
Bank of Japan enhances its payments and settlements systems following Lehman collapse
Debt discharge no guarantee for a clean start
Debt discharges fail to generate a fresh start as intended by the law, new research from the Federal Reserve Board posits.
Blame technology for bankruptcies
Technological progress has a significant effect on the bankruptcy rate, a new paper from the Richmond Federal Reserve posits.
G20 group: more supervisory colleges needed
Regulators should collaborate to establish supervisory colleges for all major cross-border financial institutions, says a report from a working group prepared for the G20 London summit.
Non-bank retail payments schemes in Canada
A new paper from the Bank of Canada provides an overview of the different kinds of non-bank retail payments schemes available in Canada.
Bankruptcy delays foreclosure
Filing for personal bankruptcy adds a little over a year to a foreclosure process, finds a new paper from the Philadelphia Federal Reserve.
Georgian central bank dismisses abolition claims
The National Bank of Georgia said on Monday that rumours in the local media that the central bank was to close because it was on the verge of bankruptcy are groundless.
Links between ownership, market structure and risk
The relationship in developing countries between banks' risk of failure, market structure, their ownership, and screening and bankruptcy costs is investigated in an International Monetary Fund paper published on Wednesday.
Developing nation bankruptcy treaty may emerge
ARTICLE - With financial instability rippling through Latin America, momentum appears to be building for an international plan to make it easier for developing nations to declare bankruptcy and renegotiate their foreign debts, reports the Wall Street…