Resolution
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
IMF calls on Kuwait to improve crisis management
Financial sector assessment praises recent reforms, but also sees room for improvement
Fed to require fewer banks to submit resolution plans
The reform is the latest effort to streamline regulation under the Crapo Bill
IMF board says Malta must tighten AML-CFT regime
Maltese Financial Services Authority needs better funding and more independence – IMF board
Slovakian central bank condemns police after staff are arrested
NBS alleges criminal behaviour by owners of failed firm and their “protectors” in the police
Nordic-Baltic crisis simulation seeks to reinforce collective response
Nordic-Baltic Stability Group carried out first region-wide crisis scenario in January
Russian authorities start criminal investigation of failed bank owner
Private lender Otkritie was nationalised by central bank in 2017
Central bank of the year: Monetary Authority of Singapore
Fintech pioneer has strong monetary policy, financial stability and supervisory record
Supervisory lessons: resolution is a ‘dirty business’
Aristóbulo de Juan offers a toolkit for resolving problem banks
ECB appoints administrators to run Italian bank Carige
Resolution of troubled bank may face political difficulties
US regulators find ‘shortcomings’ in foreign bank living wills
Banks will have to correct the problems when they next file a resolution plan
BoE unveils ‘final major piece’ of UK resolution regime
Consultations outline how the BoE will assess banks’ “resolvability”
IMF urges eurozone to complete banking union with common deposit insurance
European leaders failed to agree on a common deposit insurance scheme at last week’s summit
Podcast: How to fight the next crisis
Andrew Metrick warns we may be less prepared for crisis-fighting now than we were before 2008
Chinese authorities toughen rules on systemic firms
PBoC expands definition of systemically important firms and gains new powers
Banking union needs political courage – senior ECB supervisor
MREL ratios only gradually phased in while deposit insurance is non-existent, Angeloni says
FSB highlights more work to do on global reforms
Documents released ahead of G20 argue for additional efforts in several areas
Cyprus’s finance minister blocked reform of failed bank – governor
Georghadji says collapse of Co-op Bank cost Cyprus government around €5 billion
Supervisory lessons: the need for intrusive supervision
Aristóbulo de Juan reveals his central principles for the (intrusive) supervision of banks
Sarb moves to liquidate ‘hopelessly insolvent’ bank
Prudential Authority seeks court’s permission to wind up troubled VBS Bank
Cyprus ex-governor says authorities asked for false audit of failed bank
Orphanides accuses central bank and former government of “murdering” Cyprus Co-op Bank
SRB should publish banks’ MREL requirements – EBA’s Enria
But market abuse rules need amending to avoid SRB disclosing confidential resolution actions
RBI’s Acharya stresses need for ‘prompt corrective action’
Tool allows supervisors to intervene early and should discipline bank managers, deputy says