Resolution
EU countries must stop state-funded bail-outs, Bundesbank board member argues
Use of state funds to bail out banks “not in the interest” of legislators, Dombret says
Bank resolution regime rolls out in Hong Kong
HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure; authority also plans to conduct a public consultation on loss absorbency
FSB says ‘significant work’ still needed on cross-border resolution
Work is progressing but major obstacles remain; FSB’s Elke König urges regulators not to lose “reform momentum”
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
EC must address concerns over state aid – ECB’s Angeloni
ECB supervisor says Italian aid to Intesa raises serious questions
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
ECB approves resolution of Spanish bank
Santander set to raise €7 billion to cover capital shortfall at Banco Popular Español
RBI begins to wield new banking clean-up powers
Central bank puts pressure on banking sector to carry through plans to address non-performing assets; floats idea of supplying its own credit ratings to prevent “rating shopping”
Nouy criticises EC’s regulation reform proposals
ECB supervisor questions a “one-size-fits-all” approach to supervision
Fed greenlights Wells Fargo revamp, lifts growth limits
Bank’s 2015 plan contained “deficiencies” that have now been corrected, US agencies say, although a further hurdle is coming this year
Rajan and Weber: central banks may fail next crisis test
Heavyweight economists say central banks may well find themselves intervening at the next major liquidity crisis, despite ostensible progress on resolution
Ukraine’s Gontareva to step down
NBU governor says her mission is complete, resigning three years into a seven-year term amid intense pressure
EBA provides guidance on bail-ins under European directive
Guidelines cover shareholders, debt-equity conversions and “grandfathered” assets
CEPR report ‘cautiously optimistic’ on bail-in
Thomas Philippon and Aude Salord find range of issues with European bail-in rules, but say they can probably be fixed; Cyprus bail-in “terribly” executed but still worked
Bank of Russia proposes major resolution reforms
New law would considerably extend the central bank’s powers
Bank of Jamaica proposes ‘hybrid’ resolution framework
New “hybrid framework” proposed after FSB report showed gaps in current resolution processes; parties have until April 14 to comment
RBI’s Acharya says India ‘urgently’ needs asset management company
New deputy governor says stressed assets must not be allowed to “fester”, sketching two possible designs for an asset management company
Eurozone needs ‘hard laws’ for credible resolution, economist argues
“Soft law” arrangements can break down in crises, Schoenmaker says
Ingves sees cross-border resolution lessons from Swedish crisis
Crisis in the early 1990s prompted Swedish authorities to take early action on cross-border resolution, the Riksbank governor says
FSB issues draft guidance on CCP resolution
Regulators’ powers should include “bail-in” and “full tear-ups”, FSB recommends; regulators should have resolution plans for all systemically important CCPs, including cross-border provisions
Bank of Italy sells off three ‘good banks’ for €1
UBI Banca agrees to recapitalise banks created from regional lenders
Lars Rohde on negative rates, pegs, productivity and resolution
The National Bank of Denmark governor speaks to Christopher Jeffery about the productivity paradox, defending currency pegs, unexpected limits for negative rates and addressing too-big-to-fail
Rohde criticises Italy's calls for BRRD special treatment
Danish governor believes the forceful implementation of Europe’s new bank resolution rules represents a “game-changer”; laments Basel’s shift from risk-based regulation
FSB: Japan should strengthen financial stability framework
Latest peer review says Japan has work to do in improving the macro-prudential framework and clarifying approach to resolution