Macro-prudential policy
Draghi calls for new macro-prudential tools
Policy-makers do not fully understand “shadow banking” sector, Draghi tells ESRB
Stronger macro-prudential intervention may be needed – Minneapolis Fed paper
Shadow banking sector takes greater risks in times of stringent macro-prudential policy for banks, researcher finds
ECB should not be lead agency for EU financial stability – Mersch
Democratically elected institutions should play main role, ECB board member says
Fed paper presents method to better estimate systemic risk
Authors find their approach outperforms several commonly used systemic risk indicators
BIS paper weighs economic impact of macro-prudential policy
Cutting the LTV ratio leads to reduced output in emerging markets, authors find
ECB calls for changes to draft investment firm regulations
EU proposals omit macro-prudential measures and could cause statistical problems, ECB says
Thailand’s macroeconomic policy at a ‘turning point’ – Santiprabhob
Policy will have to evolve to support the economy rather than stimulate it, governor says
Bank of England forms new enforcement committee
Six-member committee will rule on contested enforcement cases
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
Branching out: foreign banks seek shelter from Fed rules
Foreign banks stashing repo businesses within their branches, outside Fed’s full gaze
Singapore moves to curb private housing boom
Buyers have to pay higher taxes and face tougher loan-to-value limits
Higher capital ratios trade growth for stability – Philadelphia Fed paper
Better capitalised banks reduce lending rates, researcher says
Demographics shaping Australian housing market – RBA’s Heath
Different housing markets are shaped by patterns of population growth, senior economist says
RBNZ plans update to monetary policy and prudential regulation
Changes are among several priorities outlined in 2018–21 statement of intent
BIS sees ‘narrow’ path to safety as global risks build
BIS softens message on tighter monetary policy, but calls for concerted action as global debt reaches fresh highs
Major banks pass Fed stress tests
All banks assessed reached minimum capital requirements in more adverse scenario
Two women appointed to top BoE committee
Julia Black and Jill May will sit on the Prudential Regulation Committee
French government raises counter-cyclical buffers for first time
“Economic and political uncertainty” call for hike to “moderate level” of 0.25%, council says
Some macro-prudential policies may increase income inequality – DNB paper
Researchers look at data from 69 countries from 2000–13
Fed and other US regulators call for major changes to Volcker rule
Complex legislation has created compliance uncertainty, Federal Reserve argues
Stress tests find large Danish banks can withstand severe recession
Smaller institutions fall short of minimum capital requirements, central bank finds
Central Bank of Kenya is ‘under attack’ – Njoroge
Kenyan governor says new regulator will threaten independence and mandate of central bank
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
Philip Lane on systemic risk, transparency and Brexit
The Central Bank of Ireland governor speaks with Dan Hardie and Chris Jeffery about transparency, shadow banking, ECB succession and tackling systemic banking risk in the eurozone