Capital
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal
Fed official: SLR tweaks likely unbundled from Basel III
Complexity of endgame proposals means any leverage ratio changes will probably be proposed separately
US has got what it wanted from Basel, say former regulators
Process has been "essentially driven" by US interest, says former Fed vice-chair
US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
BoE plans to link system-wide and individual stress tests
Meanwhile, ECB wants to broaden system-wide stress models to include central counterparties
EU firms fear dollar liquidity becoming tariff bargaining chip
Trade war escalation could affect ECB's access to Fed swap lines
Amid tariff turmoil, banks warned not to fudge IFRS 9 overlays
Flip-flopping US policies challenge loan loss provisioning models; EU regulators are watching closely
Governance Benchmarks 2025 – model banks analysis
Data breakdown highlights independence pressures, capital frameworks and staffing challenges
Rewriting the monetary balance sheet
Biagio Bossone and Massimo Costa write that a new accounting approach is needed for central banks and commercial money in the digital age
Bowman won’t commit to stress-testing tariff shock
Nominated Fed vice-chair stonewalls calls to run ad hoc scenario similar to 2020 Covid test
Do central banks need more tools to regulate the financial system?
Policy-makers from Armenia, Thailand and New Zealand share perspectives on how to keep up with the ever-changing industry
Fed’s Bowman to ‘prioritise’ SLR exemption for US Treasuries
Reinstating Covid-era relief is a ‘no brainer’, dealers say, as bond markets reel from tariff chaos
Over 40% of central banks lack formal recapitalisation agreement
Ten banks were recapitalised in the past year
New Zealand to review banks’ capital requirements
RBNZ to consult “international experts” as lenders demand looser prudential treatment
Some central banks report pressure to change monetary policy
Central banks mention financial and political factors impacting independence
No need for repo clearing ‘cannon’ in Europe, says industry
Observers question rationale for a clearing mandate, calling for clearer incentives
One in five central banks pays unrealised gains to government
Most central banks have a formal agreement in place for sharing profits with government
Business models at heart of 2023 banking turmoil – research
Unrealised losses and uninsured deposits were not main drivers of crisis, Chicago Fed paper argues
Can Bessent lower 10-year yields? Investors have their doubts
Unconventional tools won’t sway bond markets, say buy-siders, with yields as likely to go higher as lower
Fed’s NBFI scenario may be more use than CCAR – experts
Main severely adverse scenario does not capture contagion risks from any squeeze on non-banks
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
BoE proposes to ease regulations for small-scale lenders
Central bank suggests raising leverage ratio threshold from £50 billion to £70 billion
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards