Financial Stability
US crypto-asset regulation needs strengthening – Massad
Former CFTC chair Timothy Massad recommends a path for regulatory reforms
ECB to supervise bank that accused Latvian governor of corruption
Latvian authorities requested ECB action as lender sues them for alleged malpractice
US agencies move to protect swaps after week of Brexit chaos
Legacy swaps can be transferred without facing onerous requirements, Fed says; week of parliamentary wrangling produces little progress on a final agreement
Canada’s Wilkins calls for non-bank stress testing
Portfolio flows are now the dominant source of capital movements, but asset management risks are not well understood, says deputy governor
Fed official suggests reforms to tackle ‘credit deserts’
Brainard advocates greater geographical flexibility in banks’ obligations; FDIC chair appears to agree
Bank of Jamaica pushes banks to meet full LCR this year
The central bank also plans to introduce other liquidity management standards in coming years
DNB says house valuations need reform
“Systematic overvaluation” of Dutch housing is limiting effectiveness of macro-pru policy – DNB
Supervisory compliance weaker on 55% of Basel III principles – IMF
FSAP reports uncover potentially worrying trend on financial supervision since mid-2013
Experts debate regulatory support for energy-hungry technology
Blockchain requires a vast amount of energy, which could become detrimental for the planet should the technology be adopted more quickly
IMF says Gambian central bank is managing well
Significant policy rate cuts are “appropriate” in light of falling inflation, IMF report says
IMF staff praise Bank of Jamaica’s engagement campaign
Authorities must pass a law to guarantee the central bank’s operational independence, says staff report
BoE/FCA climate forum launches new initiatives at first meeting
Four streams will report back on key financial risks surrounding climate change
NY Fed activates motion to dismiss TNB’s lawsuit
“The relief TNB seeks is wholly incompatible with the public interest” – New York Fed
IMF urges Bank of Korea to pursue ‘accommodative policy stance’
Fund urges central bank to implement “light” macro-prudential policies
Fed to limit use of qualitative stress tests this year
The move enables some large banks to avoid capital planning capabilities examination
Romanian central bank warns on tax as dispute worsens
New team must be installed to lead central bank, says prime minister’s adviser
BoE official warns of Brexit investment impact
Investment is unlikely to bounce back to pre-Brexit levels, Haskel says, regardless of whether a deal can be agreed before the deadline
US corporate debt could amplify economic downturn, Kaplan says
Dallas Fed president warns about “historically high” corporate debt levels in economic letter
Sudanese president changes governor again as crisis continues
Governor faces growing economic crises as president declares state of emergency
Stress tests vulnerable to ‘model risk’ – Bundesbank paper
Small changes in models can lead to big differences in results, researchers find
Riksbank to reduce reserves and toughen ELA regime
Gold and foreign exchange assets will decline from $56 billion to $48 billion by October 2019
Spanish governor de Cos now leads Basel Committee
Stefan Ingves steps down as chairman after nearly eight years in the role