Regulation
Fed looks to boost competition in debit card payments
New rule will support legal right to at least two payments options for merchants
Bank of Canada to become default payments regulator
Central bank will oversee any company not already regulated under proposed law
Bangladesh Bank intervenes over commercial lender
Central bank prohibits new loans and oversees appointments, saying it has found "irregularities"
People: US set to name OCC chief; IMF’s Werner to retire
New deputy governor appointed in India; former Ecuadorian general manager dies; and more
BoE prepares to break with EU rules on smaller banks
Central bank signals a more tailored approach to regulating non-systemic banks
Nigerian central bank sacks board of third-largest lender
Central bank governor Emefiele says senior managers made large non-performing “insider loans”
Peru’s central bank caps consumer interest under protest
Central bank governor and president say new law will damage the economy
IMF warns Tuvalu risks exclusion from global banking system
Country must improve AML framework and domestic lending practices, fund says
Bolivia places new restrictions on FX movements
All transactions over $20,000 must go through banking system
FCA chief announces launch of fintech ‘nursery’
Rathi also says social media firms should be held accountable for products they advertise
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy managing director speaks about the fund’s perspectives on CBDC operating frameworks, regulating big tech and macrofinancial oversight in a digital world
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
Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
Book notes: The political economy of bank regulation in developing countries, edited by Emily Jones
A pioneering academic – but reader-friendly – monograph on the response of peripheral countries to Basel standards
Chief economist Haldane to leave BoE
Influential thinker on regulation and monetary policy leaves UK central bank to lead think-tank
Regulating big tech and non-bank financial services in the digital era
Big tech incursions into financial services in China and elsewhere demonstrate the potential benefits of adopting a digital-bank or holding-company approach to financial regulation
Republican senator accuses Fed of politicising research
Toomey demands documents from San Francisco Fed on climate and racial justice studies
US agencies begin survey on AI
Regulators seek information on use, management and development of artificial intelligence
Peru’s Velarde condemns interest rate cap law
Central bank gains power to fix maximum rates every six months
Cyber security and retaining top talent are biggest tech challenges
Keeping abreast of fintech developments also tests institutions
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Robert Pringle critiques the key findings raised in Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
Irish central bank levies record fine for misconduct
CBI fines Ulster Bank Ireland €37.7m over serious failings in “tracker mortgage” scandal
Federal Reserve to end payout caps for better-capitalised banks
Fed will lift limits on payouts and buy-backs for banks passing stress tests on capital levels
Book notes: Economic philosophies, by Alessandro Roselli
Roselli’s analytical and historical exploration is especially valuable now, writes Robert Pringle