Financial Stability
European banking union insufficient to withstand next crisis – Portuguese governor
Common supervisory and resolution tools are in place, but Europe lacks a deposit insurance scheme
Miles warns too much weight placed on untried regulations
TLAC and the resolution regime may not be enough to substitute for higher capital, former Bank of England official says
PBoC seeks to reassure bond investors amid default concerns
Pan Gongsheng says the central bank has not seen any “special abnormalities”
National Bank of Angola settles $426 million debt with Namibian counterpart
Failed currency agreement resulted in huge accumulation of debt as a fall in oil prices stifled Angola’s access to US dollars
Low rates contribute to higher deposits in Denmark
Bank deposits amount to 60% and household deposits 45% of GDP
Central banks do not have tools to change productivity growth – Haldane
BoE chief economist says governments are responsible for productivity, challenging proposals in recent report
European regulator says insurers must prepare for Brexit risks
Firms must put measures in place to ensure continuity for cross-border contracts – Eiopa
NY Fed research ‘stress tests’ household balance sheets
Authors say it is “crucial” to track household leverage; vulnerability in the US “remains elevated”
Hong Kong mandates use of legal entity identifiers for OTC derivatives
LEIs will be mandatory for some firms from April 1, 2019
Banks stumble in second round of Fed stress tests
Fed demands Deutsche Bank take remedial action; two others told not to increase dividends
BoE official considers possible new frameworks for retail payments
“Multi-vendor” more resilient but “single vendor” easier to regulate, David Bailey says
Fed’s Quarles defends FSB from US critics
Supervision chief says FSB is not a threat to sovereignty and helps solve collective problems
Policy normalisation puts EMs in ‘perilous’ situation – Mexico’s Calafell
Deputy governor says monetary policy may tighten faster than markets expect
Eurozone requires both banking and capital markets union – panellists
Status quo is highly procyclical and hampers risk sharing, IMF conference hears
Carney criticises EU stance on Brexit issues
Governor describes EBA analysis as “incomplete” and says time is running out for a deal on trillions of dollars in derivatives contracts
Eurozone governments’ post-crisis fiscal policies were ‘self-defeating’
Policies ended up being contractionary, IMF-organised conference hears
EU and UK firms unprepared for Brexit, warns EBA
Banks must speed up examination of Brexit risks and cannot rely on public sector, authority says
DLT could reduce risk in payments – BoE official
Cryptography could help secure payments messages and reduce the risk of fraud