Risk
PRA breaks new ground on climate risk supervision
BoE says it is the first regulator worldwide to set expectations for firms in tackling climate risks
Pause in normalisation could be bad news for EMEs – Mexico’s Guzmán
A pause may create a “more complex and uncertain external setting” for EMEs, he says
RBA warns about falling Australian house prices
Prices have declined since 2017, although unemployment and interest rates are at low levels
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 turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
Internationalising renminbi – Hong Kong leads the way
Hong Kong’s advantages in technology, talent and infrastructure make it best placed to form the primary transaction and risk management network for the overseas offshore renminbi market, argues Zhou Chengjun, IFF Academic Committee member and deputy…
An international system for all
Reform of the system that brought about the financial crisis in 2007–08 has not gone far enough, writes Zhu Xian, IFF vice-chairman and vice-president of the New Development Bank. Developing countries are demanding greater influence in global economic…
Risk management worsened in 2018 at large EU banks – ECB
Supervisory review of EU banks shows fall in quality of governance, but no rise in funding risks
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.
Bank of Jamaica warns about rising corporate debt
Portfolios changed as banks shed public debt and private borrowing grew, report says
Big data should help solve problems ‘on the ground’ – Ireland’s Kearns
Central banks need to do more than simply invest in technology and analytics, says Kearns
Communication still a challenge for the FPC – BoE’s Kashyap
“GDP at risk” could be a useful way of summarising risks for non-experts, FPC member says
RBI using suptech to oversee rapidly growing fintech sector – Das
Supervisors need to undertake “accelerated off-site surveillance”, governor says
Book notes: Finance and philosophy, by Alex J Pollock
A readable and useful book that provides much food for thought, and should be read widely by economists and policy-makers
Basel Committee clarifies ‘expectations’ on crypto
Banks must meet certain minimum standards if they want to trade crypto assets; more details on prudential expectations to follow
Climate change matters for monetary policy – RBA’s Debelle
More frequent and acute climate disruptions need inclusion in economic models
BoE/FCA climate forum launches new initiatives at first meeting
Four streams will report back on key financial risks surrounding climate change
Fed to limit use of qualitative stress tests this year
The move enables some large banks to avoid capital planning capabilities examination
US corporate debt could amplify economic downturn, Kaplan says
Dallas Fed president warns about “historically high” corporate debt levels in economic letter
Norway to ditch oil stocks from Norges Bank fund
Government says move will reduce the economy’s vulnerability to oil price shocks
Markets still in thrall to central banks – BIS
But some apparent anomalies may be signs of healthier market function, says Claudio Borio
IMF board says Malta must tighten AML-CFT regime
Maltese Financial Services Authority needs better funding and more independence – IMF board
Foreign banks expect Fed proposal imminently
New framework for tiering foreign bank requirements could come as early as this week
NY Fed paper scrutinises post-crisis CDS market
Little research has been done on the market at a “granular level”, authors say