Banks
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
Common asset holdings important for stress testing – BoE paper
When banks and non-banks hold the same assets, losses can be magnified, authors warn
Peter Praet on Europe’s Covid-19 responses
The former ECB chief economist talks about threats to financial stability, negative rates, common debt issuance and steps to improve the EMU
How the Fed’s Covid stress test got stuck in the middle
Experts fear CCAR add-on has neither informed investors nor guided capital management
BoE issues deadline for firms’ climate risk plans
PRA says firms’ climate risk disclosures and scenario planning need major improvements
Philippines central bank links up with debt trading platform
Move comes as central bank buys government bonds and prepares to issue own debt
Ukrainian governor resigns in protest
Smolii says he has been the target of “sustained political pressure” aimed at stopping him doing his duty
RBI supplies liquidity to Indian shadow banks ‘to avoid systemic risk’
Non-banking financial sector has faced major difficulties over last two years
BIS suspends dividend to prepare for further Covid-19 strains
BIS will not pay dividend for first time since 1950, as senior managers see further turbulence ahead