Financial Stability
BoE’s Ramsden calls time on Libor use
Deputy governor says progress on transition to Sonia benchmark needs to accelerate
Limited access to finance increased business exits in Great Recession – St Louis Fed
Illiquidity may have played a greater role than insolvency in business exits, researchers find
BIS research documents high concentration of cross-border credit
Big banks dominate global credit, which matters for global spillovers, authors say
Ghana closes 72% of its microfinance firms
The Bank of Ghana revokes licences of 347 firms
Narrow bank TNB hits back at Fed regulatory proposal
Fed overreaching by attempting to rewrite its chartering authority, TNB says; investment firm DE Shaw also reveals intentions to launch a narrow bank
Irish central bank voices concern over firms’ senior executives
Sharp rise in number of candidates rejected for senior roles on “fitness and probity” grounds
ECB again criticises Slovene attempt to change central bank law
Politicians’ latest attempt to compensate bailed-in shareholders would break EU law, ECB says
Carstens warns fading regulatory momentum strengthens ‘vested interests’
BIS chief says complacency could set in as regulators move from implementation to evaluation
PBoC takes over city commercial bank in bid to stop contagion
Central bank says this is a standalone case and it has no plans to take over other banks
Regulations lower rates and cause imbalances – BoE paper
Research into repo market highlights some unintended consequences of post-crisis regulations
Bank of Israel to collaborate with national body on cyber defence
Memorandum with National Cyber Directorate sets stage for closer co-operation on bank security
BoE makes climate risk a hot topic for banks
Financial institutions must entrust oversight of climate risk to named individual under senior managers regime
A climate of change
Central banks are striving to take practical steps to tackle climate change risks. Can they succeed?
Trinidad and Tobago prime minister ridicules central bank’s migrant figures
Acting PM says he has “no idea” how central bank estimated cost of migrant crisis
New data reveals 20% drop in correspondent banking
CPMI data reveals ongoing decline; FSB unveils latest work to reverse trend
US corporates ‘substantially’ more leveraged than thought – Dallas Fed researchers
Using a broader measure than debt-to-GDP, levels are almost double, they say
RBNZ points to high private debt as main financial stability risk
New Zealand central bank stresses climate change impact on insurance industry
Hong Kong’s first green bond issuance oversubscribed
HKMA’s $1bn five-year green bond is highly popular; yield drops relative to initial pricing
Costa Rican central bank backs government’s external financing plans
Move would reduce pressure on domestic rates and boost economic growth, it says
Universal deposit insurance lowers consumer fears – Bundesbank paper
Authors study major change in Germany’s bank deposit provision
BIS’s da Silva says climate change is an ‘epistemological break’
Climate change is starting to revolutionise investors’ thinking about risk, says deputy chief