Macro-prudential policy
Brazil loosens prudential regulations for non-banks
Small non-banks’ regulatory processes will be made cheaper under new legislation, while capital requirements will be reduced
European financial system is bigger and more concentrated, ECB says
NPLs have declined, but remain high in Cyprus, Greece, Italy and Portugal
BoE paper examines regulation spillover effects
Case study analyses effect of Spanish balance sheet regulation on Mexico’s economy, showing housing credit contracted
Moldovan parliament expands central bank’s supervisory powers
Major bank crime saw theft of approximately 12% of GDP in 2014
Blanchard and Summers call for rethink of stabilisation policy
Both economists question consensus on fiscal prudence and advocate stricter financial regulation
IMF cautions global vulnerabilities put growth at risk
Fund calls central banks to provide needed monetary support while tackling underlying threats
Stressed banks may hamper deleveraging in eurozone periphery – ECB paper
Researchers use data on more than 400,000 companies and 900 banks from seven eurozone countries
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
IMF recommends Spain take a tougher approach on NPLs
Fund advises central bank to set up a group to oversee public asset management company Sareb
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Riksbank’s new stability chief resigns after less than a week
Henrik Braconier says he regrets stepping down from his former role with Finansinspektionen
DNB to introduce climate-related risks in its supervision
Transition to a carbon-neutral economy will also create financial stresses, Dutch central bank says
EMs should work to avoid ‘macro-prudential war’ – BIS article
Use of macro-prudential policies should be co-ordinated internationally for maximum effect, say Luiz Pereira da Silva and Michael Chui
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
Perng Fai-nan on how Taiwan has eluded crisis for 20 years
Taiwan’s governor explains how pragmatic interventions have engendered two decades of financial stability, despite the island’s status as a small, open economy
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
Low wage rises may hamper inflation in Sweden – IMF
Higher housing prices and private debt call for stricter amortisation requirements
Five-year extension for Riksbank governor Ingves
Swedish governor receives additional term as opposition allegedly blocks appointment of Karolina Ekholm; first deputy also receives renewed term
Debelle calls for more thought on financial stability independence
RBA deputy says financial stability needs its own intellectual framework; panellists warn independence likely to face tougher challenges ahead
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Portuguese governor clashes with government
Treasury intends to transfer banking resolution competencies out of the central bank
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
Don Kohn extols virtues of co-operation across policy domains
Good communication between policymakers in different spheres and complementary policy action can bring significant benefits, FPC member says
Portuguese government welcomes proposal for new supervisory agency
New agency could take financial oversight and bank rescues away from the central bank