Banks
Centralised climate change teams crucial, central bankers say
As COP26 begins, central banks are focusing on improving governance of their climate actions
Central banks must address personal data risks, says BIS paper
Regulators must upgrade response to risks caused by tech firms’ use of data
Indian government reappoints Das as governor
Das gets new three-year term, as economy rebounds from Covid shock
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
Europe leads on gold lending and swaps
Just over 20% of central banks engage in these operations
Fed board member says US community banks under threat
Michelle Bowman says smaller community institutions play vital role for ethnic minorities
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
DNB calls on government to calm Dutch housing market
Tax reforms and greater supply needed to deal with “too much money and too few houses” – Knot
US bank mergers have not cut branch access – Cleveland Fed
Despite fall in banking firms, number of branches has grown, research finds
BoE ends off-the-record meetings with banks
Change follows concerns about similar practices at other central banks
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
Greater competition cut US banks’ ‘insider lending’ – BdF paper
Researchers quantify bank owners’ and executives’ loans to themselves and their interests
SSM reduced large eurozone banks’ risk-taking – ECB paper
Reduced credit risk was driven by supranational authority’s greater efficiency, authors argue
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
Emerging market central banks regulate more sectors
A higher proportion are the sole banking, non-bank and micro-finance sector regulators
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-prudential restrictions
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
RBNZ to tighten housing loan limits in November
“House prices remained unsustainable” despite earlier action, New Zealand governor Bascand says