Risk
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
FOMC members want plan to end balance sheet reduction, minutes show
Some FOMC members say further rate rises may be necessary in 2019
Former Fed chairs join over 3,000 economists in call for carbon tax
Economists including central bankers and Nobel laureates demand action on climate change
The role of e-cash in China
The use of e-cash stored on integrated circuit cards notably reduces cash handling fees and increases security. It also offers greater convenience notwithstanding the rise of mobile payments
Flattening yield curve increased retail banks’ profits – Chicago Fed
The results reflect a change in banks’ business models after the financial crisis, researchers say
Volcker rule helped curb equity market risk – researchers
Banks had large trading exposures to equity market risk before the rule was introduced, they find
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
Quarles says FSB ‘must evolve’
New chair calls for changes in the way the organisation assesses financial sector threats
Latest restructuring boosts the PBoC’s regulatory clout
Hui Feng says the restructuring of the PBoC carries “profound implications” for the central bank’s role in policy-making
Kristin Forbes urges academics to focus on macro-prudential policy
Our understanding of the tools and ability to spot new risks remain limited, professor says