Financial Stability
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities, IMF officials warn
ECB prepares for ‘big bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
EU seeks to offer reassurance on Brexit clearing exemption
Commission can act quickly to stave off no-deal market disruption, insists official
New York Fed provides emergency repo market support
Overnight rates surged on September 17, breaching the Fed’s policy rate target band
BIS’s Restoy calls for further action on resolution frameworks
Work on finalising crisis-management framework is not complete, says Financial Stability Institute head
RBNZ flags insurers’ weak governance and risk controls
Conduct and culture review finds un-updated data, poor customer eligibility and products charging excessive premiums
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Papua New Guinea upgrades payment system
More financial institutions to use new central switch in bid to improve efficiency and inclusion; international networks also to be added
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Norges Bank lays out plans for collateral management during resolution
Liquidity assistance in a resolution will “never” be a long-term solution, Torbjørn Hægeland says
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
Aussie regulator signals tougher misconduct stance
Asic warns it will use new powers to punish misconduct in wake of excoriating Royal Commission review
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
Law could help central banks fight the next recession
Brookings panel discusses using countercyclical regulations to boost spending at the ZLB
Shared supervision can help avoid ‘capture’ – BoE paper
Dividing tasks across agencies can lead to better outcomes by avoiding “supervisory capture”
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
RBI weighs plan to boost securitisation market
Government-sponsored intermediary could be formed to act as market maker and standard setter
Fed proposes new capital rule for insurance firms
Fed does not anticipate firms would have to raise new capital
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find