News/Financial Stability
BoE completes unwind of gilt market intervention
“Financial stability portfolio” took a month and a half to wind down, as QT continues
Bank of Thailand to open virtual banking applications
Virtual banks should open in 2025 and come under same regulatory regime as existing lenders
Bank of Russia restarts open FX trading to support ruble
Ruble will trade openly against yuan as Russian dependence on Chinese markets appears to grow
Fed will not fight climate change without mandate, Powell says
Elected officials must take lead in policies to green economy, Fed chair argues
France must mandate regulation of crypto assets, governor says
Government should not wait for EU to pass regulatory measure, Villeroy de Galhau argues
Crackdown on internet firms is ‘basically done’ – PBoC party chief
Guo Shuqing’s comment comes as Ant Group founder Jack Ma cedes control of company
Non-bank growth pushes global financial assets to new peak
Riskiest forms of shadow banking are growing faster than other areas of finance, FSB data shows
Governors approve plan to regulate banks’ crypto exposures
Basel standards place heavy risk weighting on unbacked crypto assets in bid to limit banks’ exposures
Philippines governor withdraws opposition to SWF
Parliament passes president’s project after changes, despite warnings over corruption
PBoC increases liquidity support as slowdown increases
Retail sales and property prices fell further in November while investment and production slowed
Georgieva says China talks ‘fruitful’ despite limited progress
Restructuring problems are key focus for IMF and World Bank after debt levels hit new high
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
BSP governor issues ‘1MDB’ warning over proposed fund
Some legislators have proposed sovereign wealth fund, but critics warn it could increase corruption
Tight policy, T-bills and Basel III affect normalisation, say researchers
Increased use of reverse repo has implications for quantitative tightening, NY Fed study says
Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
BIS analysis finds ‘huge’ debts hidden in FX derivatives
Economists say banks and non-banks have major exposures hidden off balance sheet
Libyan parliament replaces rebel-held areas’ central bank chief
Move came after relations between civil war-torn country’s central banks worsened
Singapore’s Temasek fund ‘reviewing’ $275 million FTX loss
Deputy prime minister Wong admits reputational damage but says state does not need to audit fund
Bank of England pushes ahead with ‘Basel 3.1’
Central bank says amendments to Basel III could halt downward drift in risk-weighted capital ratios
Eurozone inflation falls for first time in 17 months, estimates say
Eurostat figures show inflation dropping in most countries, including Germany
BoE begins unwinding gilt market intervention
Use of “reverse enquiry window” designed to limit market impact from £19 billion sales
RBA to review payment system after outage
Central bank apologises for October incident that saw 500,000 payments via an Australian fast payment platform delayed for hours or days
China cuts reserve requirement ratio for banks
Change to ratio will release funds for banks to help hard-hit industries, says the PBoC
PBoC pushes big techs to hand over user data, report says
Some tech firms are resisting order to supply information to PBoC-led credit-scoring firms