Regulation
The longest book ever written?
The Single Rulebook on EU financial regulation is a serious contender for the prize of the longest book ever written. But will it deliver a safer and better financial system?
Myanmar and China to use renminbi for cross-border trade
Reports indicate that authorities will pilot settling small-scale trade transactions in yuan
Brazilian Senate passes new FX law
Central bank will regulate foreign currency accounts under law now on president’s desk
Kenyan central bank to oversee digital lenders
Governor had requested “teeth” from parliament but lawmakers removed some powers
Omarova ends bid for OCC job
Biden nominee faced Republican charges of radicalism and alienated some Democrats
RBNZ’s Bascand: ‘bias towards prudence is probably a good thing’
But next 10 years likely to see greater focus on efficient regulation, outgoing deputy governor says
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Brazil’s largest state considers suspending Pix payments
São Paulo legislature examining payments system shutdown as an anti-crime measure
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Podcast: central banks’ data models going granular
Vizor Software’s chief technology officer, Ryan Flood, provides an update on changes to central banks’ regulatory data models
BIS and Fed launch New York ‘innovation centre’
Fed has mandate to “understand and, in some cases, manage” technological change, says Jerome Powell
US agencies conduct ‘policy sprints’ to tackle crypto risks
Approach modelled around “tech sprints” aims to get results quickly
Eurosystem approves new payments oversight framework
‘Pisa’ principles will cover stablecoins, e-wallets and other payments arrangements, ECB says
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Should ESG reporting be made mandatory?
As concern around the impact of climate change on businesses grows, many regulators have announced their intentions to include ESG requirements in reporting frameworks
Basel Committee launches principles for climate supervision
Basel framework can accommodate climate risks, but supervisors need guidance, committee says
Bank Negara Malaysia set to implement consumer credit law
“Long-awaited” law will regulate consumer lending in Malaysia, including “buy now, pay later”
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections