Resolution
Supervisory lessons: fault lines in prudential regulation
Former Bank of Spain head of supervision Aristóbulo de Juan highlights the lessons he has learnt about weaknesses in prudential regulation, in the second of a four-part series on supervision
EC’s Cyprus ‘failure’ undermined Eurozone central bank independence – Demetriades
Barroso’s decision not to take legal action against Cyprus for undermining the independence of the central bank damaged the ECB’s authority and emboldened others, claims former CBC governor
Danske Bank acknowledges ‘major deficiencies’ in money laundering case
CEO quits as bank publishes internal investigation into irregular operations at Estonian branch
Demetriades on political pressures on central banks and their governors
Former governor of the Central Bank of Cyprus speaks about the Cypriot banking crisis, the need for EU-wide AML oversight, independence and his fears for stability of the monetary union
Supervisory lessons: management traits of problem banks
Former Bank of Spain head of supervision Aristóbulo de Juan highlights the lessons he has learnt about the management of problem banks and how to stop dangerous activities before they take hold – in the first of a four-part series on supervision
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
European banking union insufficient to withstand next crisis – Portuguese governor
Common supervisory and resolution tools are in place, but Europe lacks a deposit insurance scheme
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Richmond Fed economists design bank resolvability score
Score could help make complex living wills easier to interpret, authors argue
‘Living wills’ have reduced implicit subsidy – Fed paper
Higher cost of capital implies resolution measures have reduced ‘too big to fail’ subsidy, authors say
IMF report says Mauritius central bank needs clearer resolution powers
Current framework restricts regulator from acting in a timely manner – IMF staff
Resolution still essential for CCPs – BoE’s Cunliffe
Despite high loss absorbency, CCPs still need a resolution framework, deputy governor says
Central Bank of Kenya is ‘under attack’ – Njoroge
Kenyan governor says new regulator will threaten independence and mandate of central bank
EU Council aims to limit bail-in debt rules
Leaked BRRD text reveals Greek and Portuguese banks could escape subordinated debt regime
Draghi renews calls for wider economic union in Europe
ECB head recommends fiscal backstop for resolution fund criticised by German policymakers
Andreas Dombret on ECB policy, deposit insurance and Basel III
The Deutsche Bundesbank executive board member speaks about exiting QE, the viability of European deposit insurance, the German banking system and doing a deal on Basel III
‘Regulatory equivalence’ not enough for post-Brexit UK CCPs – Cœuré
ECB official says work on cross-border CCP resolution needs to accelerate
Kenya’s Chase Bank finally acquired
After two years in receivership, Mauritius’s SBM acquired 75% of deposits with the remaining 25% remaining with Chase Bank
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
Bank of Uganda governor hits back at mismanagement claims
Central bank and government ombudsman are locked in conflict over a staff reshuffle
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’ book tells the inside story of the Cypriot crisis and how battles over central bank independence led ultimately to his resignation
Basel Committee highlights best practice for early intervention
Supervisors have become more forward looking and adopted new tools since 2008 in a bid to catch trouble early
Communications on financial stability should be strengthened
The IMF’s Olga Stankova outlines how central banks and other official agencies can better communicate their financial stability work
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering