Banks
Kenya’s Chase Bank finally acquired
After two years in receivership, Mauritius’s SBM acquired 75% of deposits with the remaining 25% remaining with Chase Bank
Video Q&A: Elliot Hentov, State Street Global Advisors
Elliot Hentov, head of economic policy and research at State Street Global Advisors, discusses the challenges around reserve tranching and reserve diversification for central banks, highlighting their impact in developed markets and how they are being…
Clarida and Bowman nominated to Fed
Monetary economist and community bank specialist picked to fill vacancies on Fed board
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
Book notes: The paradox of vulnerability, by John Campbell and John Hall
Quality of national institutions vital to handling financial crises, say authors
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid
The IFF China Report 2018: Post-financial crisis – A decade on
The Global Financial Crisis sparked Group of 20 countries to introduce tough new regulations on financial institutions and instruments. Yet the architecture of the global monetary, economic and financial system has many flaws. What lessons can China…
Fed outlines simplified capital regime
“Stress capital buffer” would likely raise capital requirements somewhat for many of the largest banks and lower them for the smallest, the Fed says
Yi Gang unveils timetable for opening up measures
No plans to depreciate renminbi amid trade spat, PBoC govenor says; denies there will be a “big bang” reform in financial sector
FSI finds divergent practices on non-performing assets
Study finds it is hard to make “meaningful comparisons” of troubled assets across jurisdictions
Financial conditions in Denmark tighten in Q1
Implementation of new mortgage lending regulation is the main cause of credit reduction
Xi pledges to open up economy amid trade tension
China’s president adopts soothing tone, but some observers complain his remarks do little to change the situation
Estonia and Denmark hit by money laundering scandals
Danske Bank says it should have acted faster on allegations
BoE goes granular with data experiment
UK central bank announces successful data proof of concept looking to store, organise and combine data based on the XBRL standard
Bank of Uganda governor hits back at mismanagement claims
Central bank and government ombudsman are locked in conflict over a staff reshuffle
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’ book tells the inside story of the Cypriot crisis and how battles over central bank independence led ultimately to his resignation
Basel Committee highlights best practice for early intervention
Supervisors have become more forward looking and adopted new tools since 2008 in a bid to catch trouble early
Balance sheet features impact global spillovers – NY Fed paper
International research effort finds banks’ business models affect the extent to which policy spills across borders