Systemic risk
CFTC's O'Malia: No progress on Sef rules in past two weeks
Mid-April next window for vote, but no reason for optimism, says CFTC commissioner
De Larosière slams US protectionism and EU Solvency II rules
Former IMF and Banque de France chief Jacques de Larosière says the introduction of a swathe of new regulations in Europe – by contrast to the US – may jeopardise the continent’s growth
Collateral problems in the euro area
The euro area sovereign debt crisis has caused remarkable growth in the operations of the Eurosystem. It also led to diminished collateral availability.
Systemic risk measurement gets book treatment
Jorge Chan-Lau draws on experiences at IMF, World Bank and the central banks of Canada, Chile and Malaysia to provide methods and tools to measure systemic risk
ECB researchers model systemic crises with heterogeneous interbank market
ECB working paper finds positive supply shocks feed credit booms leading to systemic banking crises
Efta court's Icesave ruling leaves European deposit insurance in tatters
Efta court move to dismiss deposit insurance claims on Iceland is a ‘Pyrrhic victory’ that throws the participation of small countries in the single banking market into doubt, argues Tim Young
Banking union no ‘magic answer’ to Europe’s woes, says BoE’s King
Bank of England governor says no sign of any significant progress in resolving the core issues afflicting the eurozone. But banking union may help in dealing with too-big-to-fail banks
Fed’s Yellen sizes up challenges in derivatives reforms
Federal Reserve vice-chair says initial margin requirements for bilateral derivatives trades are necessary but could place a heavy burden on the industry
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
Dealers seek second business conduct reprieve from CFTC
Less than 1% of OTC derivatives counterparties are ready to trade under new business conduct regime. Non-compliant firms may be frozen out of the market, banks warn
Systemic risk in Europe heightened by Target trap
Huge Target liabilities may explain why Germany sanctioned proposals for ECB bond-buying and the formation of the ESM. But this will not solve Europe’s problems
BoE survey shows record-level concern about sovereign risk
Record 94% of respondents cite sovereign risk as a concern in the Bank of England’s latest systemic risk survey, but confidence in the UK financial system and funding markets rises
CCP structure increases systemic risk, says IMF economist
The likely increase in the number of central counterparties will create more 'pockets of risk', says senior economist
RBNZ’s new governor rejects QE and capital controls
Reserve Bank of New Zealand’s Graeme Wheeler sees no need to introduce a ‘desperate’ measure such as quantitative easing in the country; rules out use of capital controls to limit kiwi dollar appreciation
Robert Pringle’s Viewpoint: Fixing banks and regulation
Central bank balance sheets are ballooning due to the failure of banking systems and new rules are unlikely to address the issue. Only a full legal separation of banking activities will do.
Europeans round on IMF as rescue plan takes shape
European policy-makers take on critics at the IMF saying the Fund’s view that matters now are worse in Europe compared with six months ago is flawed; set out a roadmap to eurozone stability
Final rules for D-Sibs published as FSB holds plenary meeting
Financial Stability Board meeting in Tokyo endorses publication of final framework for regulating D-Sibs; principles focus on assessment methodology and higher loss-absorbency requirements
Iosco calls for tighter regulation of money market funds
Recommendations aimed at reducing systemic risk posed by money market funds; report published despite opposition from the US Securities and Exchange Commission
G-Sibs facing ‘a tall order’ in meeting 2016 data deadline, UK regulator warns
The FSA’s Gerald Sampson says large, complex banks may struggle to meet a 2016 deadline for risk data aggregation and reporting standards
Spain’s Restoy highlights ‘demanding’ timetable for single-supervision mechanism
Deputy governor of the Bank of Spain applauds 'well founded' eurozone-wide banking oversight plan; but says schedule for implementing the changes will be tough
RBA paper addresses systemic risk in payments system
Research paper from Reserve Bank of Australia analyses systemic risk in RTGS payment system; evaluates Australia’s liquidity-saving algorithms
MAS chairman calls for shift away from structural reform
The Monetary Authority of Singapore’s Tharman Shanmugaratnam believes there is too much emphasis on structural reform when dealing with systemic risk; calls for a change in culture and supervision
China is entering crisis “danger zone”, says BoJ’s Nishimura
High real estate prices and an aging demographic profile in China are reaching a stage where they could trigger a financial crisis, says Bank of Japan deputy governor Kiyohiko Nishimura
Central Bank of Brazil paper develops systemic risk indicators
Working paper suggests quantitative measures of systemic risk in Brazil that could be used by prudential regulators to determine when to intervene