News/Financial Stability
Chinese developer says regulators’ conditions prevent new debt issue
Pressure grows on Evergrande to restructure estimated $328 billion debt amid property sector crisis
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
FSB proposes global standard to tackle failed CCPs
Report warns authorities not to rely on any single tool but adopt a “toolbox approach”
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
Hong Kong regulator moves against crypto exchange
SFC says JPEX is not regulated to trade in city as police arrest influencers linked to firm
Banks increasingly reliant on ‘flighty’ finance, BIS finds
Money market funds are taking on an even greater role as funding sources, research says
Aruba accuses Curaçao of regulatory failings
Spat between central banks comes amid ongoing problems with troubled insurer Ennia
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
Debt levels are likely to start rising again, IMF warns
China playing major role in debt growth, as low-income countries face worse risks, analysts say
ECB criticises Italy’s windfall tax on banks
Central bank warns measure could hamper monetary transmission and weaken lenders
NGFS launches framework on nature-related risks
Guide aims to create common approach for central banks and supervisors
Non-banks taking on significant ‘hidden leverage’, FSB warns
Off-balance-sheet positions have grown, but data on many parts of the system is poor
Fed proposes long-term debt requirement for large banks
Governors Waller and Bowman express concern the rule doesn’t appropriately tailor regulation
Vietnam joins South-east Asian cross-border payment bloc
Six Asian central banks have joined forces to build faster and cheaper cross-border payments
Powell gives hawkish speech at Jackson Hole
Fed chair warns monetary policy could do too little or too much
IMF modifies deal with Argentina
Fund disburses $7.5 billion ahead of elections despite finding government failed to meet some targets
Generative AI has ‘broad systemic implications’ – IMF
Economists argue regulators need to take action now to mitigate risks
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops
Dallas Fed finds emerging markets insulated against US rate rises
Proactive rate rises, transparency and accumulated FX reserves helped shield economies
FDIC chair promises stricter rules for mid-sized banks
Gruenberg says regional banks will need better resolution plans and more long-term debt
Financial Stability Benchmarks 2023 charts
Take a deep dive into the Financial Stability Benchmarks charts, which have just been released for 2023
Bank of Russia raises rates in emergency meeting
Board says domestic demand is boosting depreciation’s effects as Putin adviser criticises governor
Audit of Lebanese central bank reveals huge shortfalls
US, UK and Canada place personal sanctions on ex-governor Salameh