Non-bank sector
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Emerging market central banks regulate more sectors
A higher proportion are the sole banking, non-bank and micro-finance sector regulators
BoE’s Hauser mulls future of central bank balance sheets
Balance sheets will be bigger but also more variable, executive director says
RBI fines banks for violations in non-bank lending
Central bank alleges “deficiencies in regulatory compliance” but gives few details
ECB takes over supervision of largest EU investment firms
Firms posing systemic risk should not try to circumvent new regime by changing structure, ECB says
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
Shadow banking changes macro-prudential trade-offs – BdF paper
Presence of non-banks increases importance of dynamic capital ratios, researcher argues
BoE’s Hall proposes policies to tackle ‘dash-for-cash’ risks
Central banks could offer repos to “broad array” of counterparties, FPC member says
Eurozone starting to see ‘light at the end of the tunnel’ – de Guindos
ECB’s ‘Financial stability review’ highlights pandemic’s uneven effect across countries and sectors
Ukraine’s central bank orders transparency for non-bank sector
Non-banks must disclose all beneficial owners to NBU and reform ownership or face losing licences
RBI to give some non-banks access to payments systems
Indian central bank to allow non-bank payment service providers to use payments architecture
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
Money markets in focus for FSB non-bank work
FSB set to publish policy proposals for tackling risks in July
IMF calls for ‘urgent efforts’ on non-bank macro-pru tools
Fund warns of trade-off between support now and risks in the future
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Bank regulation can ease non-bank distortions – BIS paper
Authors challenge common narrative that bank regulation can worsen non-bank instability
NY Fed increases reverse repo ceiling
Fed move aims to regulate influx of liquidity to money market funds, analyst says
More syndicated loans at risk, say US regulators
Regulatory agencies say Covid-19 puts more big loans in lower categories, but cushions are strong
Shadow banks play key role in business cycle – BoE paper
Contraction in securitisation can spill into wider credit conditions, researchers say
BIS paper tests impact of macro-pru on non-banks
Domestic and foreign prudential policies have opposite effects on non-bank share, authors find
One-size-fits-all regulation won’t meet fintech challenge – FSI paper
Banks and big tech require specific approaches to ensure system stability, says Fernando Restoy