Regulation
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 restrict credit in specific sectors can increase the riskiness of credit in other areas, creating challenges in the use of household-specific and corporate credit-calming measures, write Lucyna Górnicka and Apoorv Bhargava
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
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are 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
Singapore banks step up their game against internal fraud
Firms respond to MAS warnings about the dangers of remote working spurred by Covid
US court throws out suit against fintech charters
Judges dismiss challenge to Comptroller of the Currency on procedural grounds
IMF warns Marshall Islands on digital projects
Local plans for digital currency and economic zone trigger concern at fund
Dominican Republic’s central bank plans financial innovation hub
New technology is “indispensable tool” for financial inclusion, governor says
Diem says it will ‘fade out’ stablecoin if Fed issues CBDC
Chief economist of Facebook-backed firm says public sector has “comparative advantage”
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
DNB acknowledges crypto KYC requirements were unlawful
Netherlands Bank reverses decision to mandate adherence to Sanctions Act
Bank of Canada voices concern over house prices
Financial regulator imposes minimum rate on new uninsured mortgages
Bank of Russia amends market manipulation rules
Regulations updated to take account of recently developed scams and influx of new investors
Bitcoin plunges as China cracks down on crypto assets
Chinese industry bodies toughen restrictions on crypto services offered by financial institutions
ECB paper offers model of interbank contagion
Researchers say policymakers can use their work to prevent and manage financial crises
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
Brainard questions Fed approval of bank merger
Fed approves PNC purchase of BBVA USA, while Brainard warns of “weakened” safeguards
Myanmar suffering slow-motion bank run, reports say
Central bank struggles to supply cash and defend currency amid post-coup turmoil
Sanctions must go for nuclear talks to succeed, says Iran governor
Hemmati has played major role in sanctions-related diplomacy
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors