Banks
Myanmar authorities shut banks amid growing crisis, report says
Private banks closed from August 16 to August 22 amid ongoing cash crisis, reports allege
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
Philippines central bank calls for urgent reform of secrecy law
Financial industry says current law attracts money launderers as governor demands change
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
Majority of retail payment systems lack real-time processing and settlement
Over half of RPSs in emerging market economies were owned by central banks, but in advanced economies this fell to less than a quarter
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Bank dividend suspension proved effective – ECB
Lenders that reduced distributions increased both provisions and lending to the real economy
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Third parties often develop RTGS technology
Seventy-one percent of respondents said the technology underpinning their RTGS system was developed solely by a third party or in collaboration with the central bank
Systemic banks shrink balance sheets at reporting dates – BIS paper
Authors find “systematic” balance sheet compression often results in lower capital requirements
Central banks look set to upgrade RTGS systems in the next 12 months
Nine central banks said they are planning ISO 20022 adoption
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
Israel’s financial risks back to pre-Covid levels – central bank
Banks are well capitalised and housing-related risks are low, report says
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Russian central bank may sell nationalised lender to ‘strategic investor’
Bank of Russia says it could bring sale of Otkritie forward if right buyer can be found
Myanmar central bank restricts foreign hires
Move comes after months of unrest and shortly after military announced 2023 polls
Central banks split on non-bank access to RTGS systems
Benefits of innovation must be weighed against risks of financial instability
Central banks’ payments operations staffed more than oversight function
Advanced economies tend to have higher staff numbers in both functions
Spain’s interior vulnerable to loss of cash access – Bank of Spain
Rural areas have older populations and rely more on cash, but banks are closing branches
Criteria for systemically important payment infrastructure differs
Thirty-one out of 37 central banks said they designate systemically important payment infrastructure
RBNZ to tighten loan limits as house prices continue to rise
Tougher loan-to-value limits could be followed by rate floors or debt service limits
Oversight functions stifled by lack of resources, some central banks say
Skills and resources were identified as limiting factors, as well as the challenges of a recently formed oversight function