Supervision
Paraguay legislative committee rejects crypto law
The central bank issued strong objections to the law, which passed the upper house in December
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Paraguay legislators clash with central bank over secrecy rules
Legislators considering changes to central bank law
Biden nominates Barr for Fed supervision post
Previous nominee Sarah Bloom Raskin withdrew in March after Republican attacks
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
People: Macklem to chair Basel Committee oversight board
China names policy-makers; BoJ reappoints key monetary policy official; Kazakhstan replaces deputy
UK authorities investigating LME over nickel trading suspension
Regulators to probe governance at the metals exchange after “disorderly” conditions halted trading
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Project Ellipse: real-time data and the ‘art of the possible’
BIS’s Andrew McCormack and MAS’s Kenneth Gay talk about phase two of the suptech project, which combines real-time news with regulatory data
Technology services – regulatory: Regnology
The regtech/suptech provider continues to innovate, securing major new contracts with central banks and regulators
Systemic stablecoins may not need ‘bank-style’ resolution – BoE
Non-bank stablecoins set for “tailored” regulatory regime under plans by UK policy-makers
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
Some CCPs could struggle to cover major losses – FSB
Cyber attack could pose serious problems for systemically important CCPs, report finds
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Many central banks have a fintech strategy
Over half of respondents have a dedicated fintech team
ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
Ecuador congress removes bank regulator
Legislators charged Ruth Arregui with failure to perform duties of her office
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
US Senate Republicans stall Fed nominations
Raskin denies opposition lawmakers’ allegations that she engaged in untoward lobbying
FSB warns of rising crypto asset risks
Sector could harm global financial stability if it carries on growing at current rate, FSB says
Efficient data reporting is main suptech driver
Resource constraints are the biggest challenge in developing a suptech strategy
RBI deputy makes case for crypto asset ban
Left alone, crypto products could “wreck the currency system”, says T Rabi Sankar
Change at the Bundesbank: from Weidmann to Nagel?
Joachim Nagel’s appointment highlights the importance of politics at the apex of German central banking. Veteran central bank watcher Klaus C Engelen looks at the media reaction and asks if Buba/ECB discord is set to continue
Navigating the digital transformation at Deutsche Bundesbank – an update
Joachim Wuermeling explains how the Covid-19 pandemic and other developments have affected the German central bank’s digital transformation during the past two years