Regulation
Bank resolutions averaged 1.8 cases in last decade – central banks
Lower-middle income countries report higher mean number of resolutions
Kenya revives interest rate corridor
Controversial 2016 law capping rates undermined earlier attempt at corridor
Most central banks operate in jurisdictions with deposit guarantee schemes
Few operate their country’s DGS, and some are working to reform schemes’ design
FDIC chair promises stricter rules for mid-sized banks
Gruenberg says regional banks will need better resolution plans and more long-term debt
Reserve requirements and countercyclical buffers are most common macro-pru tools
Dynamic provisioning and limits on credit growth are least-used measures
Financial stability resources are sufficient, most central banks say
Some say they need to improve access to data, training and specialist staff
Brazil governor promises to end high-interest rotating credit
Campos Neto tells legislators central bank achieved “soft landing” on monetary policy
Most central banks say they have enough financial stability staff
Some face problems including lack of resources, uncompetitive salaries and complex training needs
El Salvador’s central bank licenses Binance
Move comes despite growing international regulatory concern over crypto exchange firm
US regulators fine firms $549 million for using messaging apps
Feds say brokers violated recordkeeping laws by using WhatsApp and similar services
Cuba limits cash transactions and ATM access
Central bank measure provokes scepticism and concern
Hedge funds may reduce liquidity in volatile periods – BoC research
By transacting abnormally in times of market stress, hedge funds can reduce liquidity
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
People round-up: Breeden promoted to BoE deputy governor
Former Moroccan governor dies; Tonga appoints deputies; and more
Russian legislators approve Islamic banking pilot
Two-year programme may attract foreign capital or appease restive minorities
PNG central bank dispute leads to fuel rationing
Papua New Guinea central bank has accused fuel importer of failing to repatriate earnings
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Panama supreme court rejects crypto law
Judges agree draft law has unconstitutional provisions and was improperly passed
FSB unveils crypto regulation framework
Recommendations were toughened to reflect failure of FTX and terraUSD/luna stablecoin
US regulators fine Bank of America $150 million
BoA pays out nine-figure penalties for consumer malpractice for second year in a row
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
IMF repeats warning on Marshall Islands’ fintech plans
Fund proposes Pacific island state could set up a ‘monetary authority’
Chinese regulators impose fines on Ant Group and Tenpay
Regulators’ priorities have now shifted to “normalised supervision” of platform companies