Insurance
BoE climate stress test finds impact will fall on bank customers
Sam Woods questions whether capital is “best tool” to address climate change
BoE backs cut to insurers’ capital requirements
Post-Brexit move to ease regulations requires tightening of some other rules, central bank says
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Ukrainian central bank says lenders and payments remain stable
Shevchenko warns over foreign currency pricing as Russia increases reinsurance capital
The longest book ever written?
The Single Rulebook on EU financial regulation is a serious contender for the prize of the longest book ever written. But will it deliver a safer and better financial system?
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Emerging market central banks regulate more sectors
A higher proportion are the sole banking, non-bank and micro-finance sector regulators
Pandemic did not harm public trust in Dutch banks – DNB survey
Central bank study says 80% of participants maintain confidence in financial sector
Regulating big tech and non-bank financial services in the digital era
Big tech incursions into financial services in China and elsewhere demonstrate the potential benefits of adopting a digital-bank or holding-company approach to financial regulation
BoE’s Woods says PRA needs more rulemaking powers
PRA chief dismisses “caricature” of the “rampant regulator intent on crushing the industry”
BoE may diverge from EU on software as capital
PRA opens consultation after Bailey says there is no evidence software assets should count as capital
Central Bank of the UAE prepares to gain insurance powers
Insurance Authority is being merged into CBUAE as part of bid to become “top 10” central bank
FCA court victory gives clarity to SMEs over Covid disruption
Court ruling will see a larger number of businesses receive payouts from their insurers
BoE officials welcome stronger post-Brexit regulatory powers
Andrew Bailey says UK must not become a “rule-taker” on financial services
Canada launches climate risk scenario pilot
Project will test volunteer institutions for their exposure to climate change risk
RBNZ extends some emergency measures
New Zealand central bank delays capital changes again and may reinstate LTV limits
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
Taiwan central bank open to more onshore insurer FX hedging
Central bank suggests lifers can use onshore swaps to hedge dividends, but some warn it could hit NDF market
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
Banks outpacing insurers with cloud adoption – BoE
UK financial institutions lean towards software when it comes to cloud outsourcing, blog post shows