Banks
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
Payments evolution will result in bank business model changes
Mid-sized banks will have to transform business models in order to remain relevant, says Swift, as fintech and globalisation threaten traditional practices
Fed fines HSBC $175m for unsafe forex practices
The London-headquartered bank has been ordered to improve its practices by a Fed cease-and-desist order
BoE asks banks to allocate $154 billion to new MREL requirements
UK central bank introduces new internal capital requirement for large banks with subsidiaries; banks have net shortfall of £4 billion to meet by 2022
Nouy: Europe’s bankers need courage for cross-border mergers
Bankers have “turned inwards” in the face of difficulties, says ECB supervisor
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
HKMA rolls out initiatives to promote ‘smart banking’
Hong Kong authority plans upgrade of supervisory sandbox and modified virtual banking guidelines; real-time retail payment system will be one of first to offer immediate settlement
Senior figures disagree over future of central bank mandates
Independence for central banks has been a success and is vital for carrying out mandate; Otmar Issing says ECB should not act as a substitute for politics
Fitch warns Philippines on prudential standards
Real estate sector appears stable but risks could “crystallise” if left unchecked; closer central bank scrutiny may prove inadequate
Poor monitoring led to rise in NPLs, says Rwanda’s central bank
NPLs rose to 8.2% in June, according to central bank stats; banks urged to strengthen monitoring and credit underwriting processes
Capital rules may be too risk-sensitive, Basel fears
Complexity is slowing the roll-out of standards, says Basel Committee deputy
BoE issues consumer credit warning to banks
Preliminary stress-test results show UK banking system could incur £30bn loss over three years; UK central bank says financial system is “underestimating losses”
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
Central banks will be using blockchain by 2019 – research
Study examines pros and cons of central banks adopting blockchain and considers use cases
RBNZ proposes tougher rules for bank outsourcing
Banks must show they can open at 9am the day after entering resolution; foreign-owned banks need to supply separation plans
Riksbank outlines three visions of ‘e-krona’
Sweden’s central bank presents three cryptocurrency models as a solution to the payments conundrum
All central banks may have to consider crypto-currencies – BIS
BIS economists examine the case of central banks issuing own digital currency in both the retail and wholesale landscape
Spanish ex-governor will not face charges over Bankia case
Former IMF managing director will face charges over collapse of Spanish commercial bank
Ugandan stress tests reveal banking sector vulnerabilities
Banking sector could face a loss of $140 million if three largest banks default; governor says it has been a “difficult year” for banks
Banks improve governance on Fed stress test feedback
Dual reviews of stress testing models and scenarios becoming the norm
IMF report studies country responses to volatile capital flows
Set of case studies emphasises value of macro-prudential policy in resisting credit booms across emerging and advanced economies
Argentina attempts to speed up financial transactions
The central bank will allow the public to directly submit their tax returns to banks, as part of a series of measures designed to boost credit
Bad assets ‘keep me awake at nights’ – RBI deputy governor
Reform proceeding at a “glacial pace”, says Viral Acharya
Central banks unlikely to issue digital money, argues author
David Birch’s book discusses how communities could be at the heart of the new electronic monetary system