Banks
Transparency: Central Bank of Ireland
The Irish central bank has made great progress in communicating in a candid and open manner with the people it serves
BoE suffers transaction-processing glitch
“Regular” IT update led to failed wholesale transactions, although payment systems operated normally, the central bank says
Better data needed amid rise of non-banks – BIS study
Survey of post-crisis banking structure finds sturdier core banking system, but risks shifting to periphery, raising the need for better surveillance
Central banks should not be underestimated – DTCC chief
Michael Bodson says central banks will always find a way to deal with crises, even without interest rates at their disposal; Hélène Rey says interconnectedness of system is a risk
Consultancy and advisory provider of the year (currency management): De La Rue
The UK-based company is helping central banks monitor the lifespan of banknotes in a bid to improve stock management and cost-effectiveness of currency operations
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
Fed paper models risk-taking channel of monetary policy
Model in which monetary expansion increases risk-taking appears to fit with the data
Technology consultant of the year: Vizor Software
The Dublin-based company continued to grow its client base in 2017, proving its mettle in emerging markets, with the addition of Brunei’s central bank and the Zambian pensions and insurance regulator
Banknote and currency services provider of the year: Landqart
The leading hybrid substrate provider offers the durability and increased security of polymer combined with the security features and customer familiarity of paper
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Consultancy and advisory provider of the year (data and regulatory management): BearingPoint
BearingPoint’s expertise in data and reporting has informed a number of high-level bodies over the past year, including the Basel Committee and the IMF, following groundbreaking work in Austria
Asian central banks crack down on cryptocurrency
Central banks in China, Korea, Malaysia and Singapore all taking action as cryptocurrency prices slump
EU ombudsman asks Draghi to relinquish G30 seat
Prolonging the president’s membership threatens independence and public’s trust in the ECB, O’Reilly declares
BoE economists challenge conventional wisdom on yield curve
Steeper curve may not be as good for bank profitability as widely believed
Short-selling bans increased instability – ESRB paper
Banks’ volatility, leverage and default probability increased by bans on short-selling – researchers
Central banks lack ‘firepower’ to combat financial crises, says report
Without interest rate cuts available, the next financial crisis could be much “longer and deeper”, Global Risk Report says
RBI’s Acharya tells banks to deal with interest rate risk
Indian banks are vulnerable to changes in yields and have relied on regulatory forbearance for too long, deputy says
German savings banks may buy debt to gain political favour, ECB paper says
Research warns this behaviour increases interdependence between banks and governments
BoE’s Tenreyro sees hopeful signs for UK productivity
Many factors dragging on productivity may soon start to fade, MPC member says, though the UK seems to be missing out on a global investment boom
Core-periphery model of bank networks called into question
Researchers find multiple cores in the interbank market, posing different systemic risks
BoE’s Woods warns of ‘point of tension’ in Brexit negotiations
PRA chief fears EU supervisors may adopt a local mindset when dealing with cross-border firms
Economists need to better understand macrofinancial links – BIS paper
Stijn Claessens and Ayhan Kose call for “new generation of models” among other research to solve ongoing puzzles
Banking ‘deserts’ do not explain financial exclusion – NY Fed economists
Data shows absence of nearby banks fails to explain “unbanked” share of the population
Home truths on Europe’s NPLs
Europe needs to overcome fears of a hypothetical crisis, and impose more intrusive supervision and greater provisioning on its banks