News/Financial Stability
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system
HKMA proposes easing data-sharing rules between banks
Hong Kong authorities cite need to tackle digital fraud and money laundering more effectively
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
China revises rules for PBoC’s monetary policy committee
New rules form part of Communist party’s drive to strengthen control over domestic financial sector
Nigerian central bank says it has cleared some lenders’ FX liabilities
Move comes one week after CBN replaces management of three banks for alleged law-breaking
Risks persist in China’s economy despite growth, analysts say
Property sector woes, youth unemployment and falling population all cited as long-term challenges
Local preferences affect US bank lending to minorities – research
Ethnic minorities’ credit access is affected by stakeholders, NY Fed paper finds
RBI deputy calls on government to tackle bankruptcy backlog
Courts are struggling to deal with caseload, putting progress on credit quality at risk, official says
Fed paper presents new way to measure consumer welfare
Consumer preferences change in line with incomes, researcher argues
Philippine president removes Diokno as finance minister
Marcos gives former governor a place on central bank monetary board after rice subsidy clash
PBoC holds key rate after third consecutive month of deflation
China’s central bank surprises analysts by restraining policy support amid weak economic data
Singapore moves to expand MAS’s supervisory powers
Central bank would oversee currently unregulated activities and have greater investigative remit
Extreme temperature harms household finances, warns paper
Payday loan delinquency and defaults increase during extreme weather
UK plans to tap deposit insurance to support resolution
New mechanism would use deposit insurance to fund failed banks, bridge banks and regulators
Digital money could strain global financial safety net – IMF paper
Economies with existing vulnerabilities are more exposed to impact of digital money, authors say
Major Chinese shadow bank files for bankruptcy
Zhongzhi Enterprise Group’s $36.5 billion shortfall raises fears of contagion from property downturn
PBoC ramps up funding support for policy banks
Biggest monthly increase for cheap loan funding in over a year likely to target property sector
Indian financial sector is resilient despite lower capital ratios – RBI
Banks pass stress tests, but RBI warns of decline in capital ratios and problems at some non-banks
MAS fines Credit Suisse S$3.9 million over misconduct
Relationship managers made false statements to clients over bond trades, says regulator
Finma calls for more powers after Credit Suisse failure
Swiss central bank head had wanted to nationalise the failing global lender
Held-to-maturity assets present banking risks, paper says
Boston Fed research argues SVB failure could mean regulatory re-think
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
Riskiest non-banks shrink for first time since 2009
FSB says narrow measure of riskiest firms fell in 2022 as asset price falls hit investment funds