Regulation
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
US regulators to align policies on lower income lending
OCC backs down on separate CRA rules and starts joint consultation with Fed, FDIC
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on corrupt money
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
The ‘golden age’ of central banking has passed
Central banks are up against multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Kenyan governor asks for powers over digital lenders
Unregulated lenders are helping create ‘ballooning household debt’, Njoroge says
RBI fines banks for violations in non-bank lending
Central bank alleges “deficiencies in regulatory compliance” but gives few details
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients
US comptroller takes direct charge of agency’s bank supervision
US agency eliminates chief operating officer role as part of internal reorganisation
Somalia’s governor on rebuilding its central bank
Governor Abdullahi discusses payments systems and reviving Somalia’s war-damaged economy
Three ways to bolster flawed AML/CFT in the EU
EU must address significant weaknesses if it wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
Suptech strategy: the seven missing links
RBI’s Manoj Kumar Singh sets out what central banks need to do to build an effective suptech strategy
Mexico reminds banks crypto transactions are illegal
After El Salvador bitcoin law, authorities state virtual assets ‘not legal tender in Mexico’
Ukrainian central bank officials resign in protest
NBU’s decision-making process and standards are under threat, official says
FSB proposes menu of policies to tackle money market fund risks
Proposal aims for tailored approach to boosting resilience of key funding markets
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
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Rising spillover risks from macro-prudential policies
Tools used to rein in credit in specific sectors can increase the riskiness of credit in other areas
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
People: Sam Woods reappointed; Fernanda Nechio returns to SF Fed
BoE deputy gets fresh term; Nechio to lead regional Fed’s sustainability research; and more
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Cuba bars dollar cash deposits
Country struggling with sanctions as inflation spirals
Riksbank to revise ethical rules after staff infringements
Employees were involved in equity transactions before monetary policy decisions
The winners of the 2021 FinTech RegTech Global Awards
Fourth annual tech awards recognise excellence among central banks and the firms they work with