Resolution
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
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
Governance Benchmarks 2021 report – the frameworks that rule central banks
How are central banks governed? Benchmarking data offers insights on appointments, legal structures, powers, decision-making bodies, independence and more
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?
Central Bank of Kenya to liquidate bank after ‘severe violations’
Action on smaller lender comes as CBK looks to complete long-running resolution of Chase Bank
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
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
Final FSB report warns ‘gaps’ remain in resolution framework
Study highlights “progress” but also shows “more can be done”, says Claudia Buch
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
ESM to become backstop to Single Resolution Fund
Revised treaty enhances fund’s role in future adjustment programmes and crisis prevention
Eurozone needs major resolution reforms, Enria says
ECB supervisor says policy-makers should create new tools to deal with medium-sized banks
Georgian central bank starts operating new resolution framework
NBG says new resolution system will greatly increase Georgia’s financial stability
Former RBI official Rabi Mishra on macro-pru in the post-Covid world
The former executive director discusses challenges for supervision, global governance reform and the rise of fintech
Is the integrity of Afghanistan’s central bank under threat?
Acting governor fires key staff and is accused of undoing reforms, while World Bank appears ready to suspend funds; administration and other donors show few signs of learning from Kabul Bank scandal
RBI intervenes as another bank comes close to collapse
Failure of Lakshmi Vilas Bank highlights strain on Indian banking sector
Pandemic has impacted post-crisis reform work – FSB
“Substantial work” still outstanding in important areas, Financial Stability Board says
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
Action needed to avert Latin American banking crisis – report
Emergency measures may mask growing solvency problems, institutions warn
Bank investors still don’t think bail-in will happen, FSB told
Questions over bailing in bank bondholders mean problem of too big to fail persists, experts warn
Resolution colleges must update resilience plans – EBA
EU’s resolution colleges should review whether their plans are “credible and feasible”, report says
Former RBI deputy attacks government over fiscal dominance
Recent actions by Indian government are “tantamount to coercive monetisation”, says Viral Acharya
PBoC official joins policy lender after clearing up Baoshang Bank
Zhou Xuedong joins China’s biggest policy lender, as PBoC declares Baoshang Bank bankrupt
Claudia Buch: ‘We need higher transparency’ on resolution
Bundesbank vice-president discusses progress towards ending ‘too big to fail’, evidence of fragmentation and how to fill information gaps