Capital
For-profit CCPs may not hold socially optimal capital – BIS paper
“For-profit CCPs have incentives that are misaligned with financial stability,” author says
FSB publishes annual work programme for first time
Priority is to address new vulnerabilities, while finalising, implementing and evaluating reforms
Data overhaul needed to enhance insolvency frameworks – IMF
Paper highlights the importance of data in analysing efficiency of current resolution policies
Central bank of the year: Monetary Authority of Singapore
Singapore’s central bank stands out for its pioneering fintech efforts combined with its consistency of performance in monetary policy, financial stability and supervision
Capital requirements impact collateral demands – BoE paper
Higher capital requirements can make banks demand more collateral, authors find
IMF endorses Hong Kong’s tight macro-prudential measures
But risks to the outlook appear to be building, the fund says
PBoC denies that new liquidity tool is a ‘form of QE’
Central bank bills swap is essentially quantitative easing, says one analyst
Tighter US capital ratios eased inequality – Bundesbank paper
Richer households’ incomes fell while Fed’s easing cushioned effects on middle and low earners
BoE paper studies CoCo effects in ‘one-shot game’
Game theoretic approach suggests CoCos cut risk-taking in certain circumstances
RBI governor: India must ‘brace’ for global turbulence
Shaktikanta Das stresses need to stay firm on banks’ asset quality, despite earlier leniency
Basel Committee softens impact of revised market risk framework
Final framework cuts expected increase in average capital requirements almost in half; committee may consider some further rule-making in 2019
Supervisory lessons: resolution is a ‘dirty business’
Former Bank of Spain head of supervision Aristóbulo de Juan reveals his principles for resolving problem banks in the final article of a four-part series
Fed’s Quarles outlines ‘building block approach’ to insurance regulation
Regulator chose not to copy and paste banking sector regulations onto insurers, says vice-chair
Mexico unveils measures to foster financial inclusion
Plan intends to promote digital payments, facilitate access to credit and deepen capital markets
Ghana's central bank closes two banks and plans to recapitalise five more
Three banks to merge as financial sector reform effort continues
Chinese central bank again seeks to boost lending to small businesses
PBoC doubles threshold for loans exempted under reserve-ratio requirements
ECB appoints administrators to run Italian bank Carige
Resolution of troubled bank may face political difficulties
Trade tensions may reflect international system design flaws
Former PBoC governor Zhou says global system faces “grave challenges” while former EC president Barroso says current framework “is not working”
BoE unveils ‘final major piece’ of UK resolution regime
Consultations outline how the BoE will assess banks’ “resolvability”; banks will be expected to submit self-assessments every two years
Asset management: outlook for 2019
Monetary policy divergence, fears over protectionism and ESG are shaping reserve managers’ approach to 2019
Basel Committee unveils ‘streamlined’ disclosure requirements
Parts of the requirements “substantially streamlined” after complaints from industry
ECB has made ‘little use of macro-pru powers’, senior official says
Eurozone authorities lack powers to deal with diffuse sovereign risk or shadow banks – ECB official
BoE issues warning over global leveraged loan market
Scale, growth and lending standards similar to pre-crisis subprime lending, BoE reports
Podcast: How to fight the next crisis
In the last of the series, Yale’s Andrew Metrick warns we may be less prepared for crisis-fighting now than we were before 2008