Banks
Basel Committee drafts new resilience guidelines
BCBS consults banks on safeguards against operational risks such as pandemics and cyber attacks
BoE runs ‘reverse stress test’ to prepare for renewed Covid crisis
Banks may have to take drastic “defensive actions” if UK suffers another major shock, BoE says
New York Fed study exposes ‘disturbing’ reality for black-owned firms
Data shows black-owned firms were disadvantaged from the start of the pandemic
MAS recognises first ‘significantly rooted’ foreign bank
Standard Chartered’s new status will give it some of the same privileges as locally incorporated banking groups
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
ECB extends eurozone banks’ dividend payment pause
Enria says banks face “radical uncertainty” over pandemic’s economic impact
FCA presents new design for financial services register
UK regulator says website aims to boost consumer protection and make key data easier to find
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
Lagarde hails EU fiscal-monetary co-ordination
Recovery fund will support economy from 2021, avoiding fiscal tightening once national stimulus lapses, stresses ECB president
BIS stats show surge in cross-border lending during pandemic
Most of the money flowed to advanced economies and offshore centres, BIS says
Lebanese central bank faces audit as crisis deepens
Inflation is spiralling and IMF talks have yet to result in a bailout package
New NBU governor promises to safeguard bank reforms and independence
Kyrylo Shevchenko emphasises continuity in first remarks since taking office
Q&A: New York Fed’s Stiroh on climate change and Covid
Co-chair of Basel task force discusses possible supervisory approaches to climate risk
Bank of Greece proposes ‘bad bank’ for NPLs
Covid-19 may worsen the highest ratio of non-performing loans in the eurozone, central bank says
Chinese banks’ dollar needs are large but unclear – BIS research
Swap lines meet most banks’ dollar needs, but firms may still struggle to access dollars, authors warn
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
RBI’s Das calls for legislation on resolution corporation
Several banks in India remain troubled, and Covid-19 may trigger further problems, governor says
Bank of Jamaica weighs up CCyB
Central bank outlines proposals to tackle “excessive pro-cyclicality”
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims
Online machine learning can warn of impending crisis – Hélène Rey
Approach avoids some of the pitfalls of other methods, the economics professor says
Ukrainian ex-governor says council chairman sabotaged him
Accusations raise stakes as president reportedly mulls appointing Danylyshyn as next governor