Feature/Financial Stability
Basel’s cherry-picking toughens IRRBB shock scenarios
European banks want higher outlier thresholds to offset higher confidence level in new standard
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Central banking against a full-scale war
NBU governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and ability to function under uncertainty – and succeed
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
OK regulator? How AI became respectable for AML controls
Dutch court case pressures supervisors to accept new tech; explainability the key challenge
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Proportionality in bank regulation: striking the right balance
Careful analysis is required when making any proportionality adjustments in the EU single rule book
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, former NBU governor Gontareva argues
Rethinking regulation of the modern financial system
Rules need to address uncertainty in addition to risks, and should not be too complex
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs could have on the banking system
The international effort to manage NBFI risks: where do we stand?
Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-pru issues
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
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
Change at the Bundesbank: from Weidmann to Nagel?
Politics at the apex of German central banking amid Buba/ECB discord
Fixing market-based finance: duct tape or deep reform?
Deeper reforms may be needed to avoid stretching central banks’ balance sheets to breaking point
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Regulating big tech and non-bank financial services in the digital era
Experiences from China highlight potential benefits of digital-bank and holding-company approaches
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Critiquing Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’