Supervision
Authorities need to deal with ‘limitations’ of global standards
The BIS’s Fernando Restoy says global standards do not cover all possible risks, and national supervisors need to fill in the gaps
Polish central bank uses YouTube comedy to warn of digital currency dangers
Film runs up over 500,000 views, but some local media criticise lack of transparency
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
RBI under pressure from alleged banking fraud scandal
Alleged fraudulent transactions uncovered at Punjab National Bank undermine the firm’s capital position; RBI launches investigation into “increasing incidence of frauds”
BIS’s Carstens sees danger in rapid technological change
General manager says supervisors should ensure the banking system remains resilient amid numerous challenges to traditional business models
People: Caruana nominated for Spanish commercial bank’s board
Qatar appoints deputy governor and Ukraine announces new onsite inspection head
BIS and IMF offer joint course for financial supervisors
Lagarde and Carstens say the two organisations will increase joint efforts at capacity-building
UK regulators unveil rules for algo trading
PRA and FCA outline their approaches to supervising the ultra-fast trading methods
A dangerous unknown: interest rate risk in the financial system
Urgent action is needed to tackle the little-understood build-up of interest rate risk in the global financial system; macro-pru tools still inadequate to tackle the issue
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced the Sarb’s reputation as an independent and well-governed institution against all threats – despite a turbulent political and economic backdrop
Brexit could spell larger mandate for Bank of England – report
House of Lords report asks government to consider adding competitiveness to mandates of FCA and PRA
Technology consultant of the year: Vizor Software
The Dublin-based company continued to grow its client base in 2017, proving its mettle in emerging markets, with the addition of Brunei’s central bank and the Zambian pensions and insurance regulator
Lifetime achievement award: Perng Fai-nan
Pre-emptive financial reforms combined with flexible monetary and forex policies have enabled Taiwan’s veteran governor to provide economic stability, even during turbulent times
Higher inflation in the US could accelerate Fed’s tightening
US Treasury yields rise as GDP growth accelerates and inflation expectations increase
The challenges for central banks
Demands are being made for central banks to consider financial stability alongside price stability, as a key component of their monetary policy. But that is nothing new for central banks