Financial Stability
Riksbank says Nordea’s relocation to Finland could increase financial risks
ECB expected to decide later this month whether to grant banking licence to Nordic lender
DNB develops new instant payment network
Banks will be able to process payments within seconds by mid-2019, the central bank says, but evolution of cash infrastructure will continue
Is the US dismantling Dodd-Frank?
Richard Heckinger asks whether recent amendments to the Dodd-Frank Act amount to technical tweaks or full-scale rollback
Bank of Botswana urges government to reduce reliance on diamonds
Central bank believes demand for commodity is likely to dwindle in the future despite global recovery
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
Barbados calls for help from IMF as economic situation worsens
Fund to provide technical assistance with new economic plan as government suspends debt payments to external creditors
PBoC’s Yi dampens market excitement on liberalisation
China rolled out series of liberalisation measures in recent months, but further action will only be gradual, says central bank governor
Chilean deputy points to US inflation as biggest risk
US growth is broadly positive, but sustained wage growth could drive up rates causing sharp portfolio outflows from emerging markets; Chile relatively well positioned
Fed and other US regulators call for major changes to Volcker rule
Complex legislation has created compliance uncertainty, Federal Reserve argues
UK’s FCA to act on banks using overdrafts as revenue source
Regulator proposes rules to improve transparency around the cost of credit, with plans to ban fixed fees if necessary
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused a dangerous rise in private debt
Stress tests find large Danish banks can withstand severe recession
Smaller institutions fall short of minimum capital requirements, central bank finds
India needs new payments ‘vision’ – Kanungo
RBI deputy governor calls for debate on several innovative areas for Indian payments
Bank of England says UK payment schemes must adapt to ISO messaging standard
BoE will hold consultation with interested parties in June
RBNZ unveils banking sector dashboard
Interactive tool gives users a comparison of banks’ regulatory metrics at a glance
Italian governor warns country must not abandon EU rules
Former IMF official named as interim prime minister by Italy’s president
Non-banks could threaten bank business models – BoE paper
Non-bank competitor could undermine bank’s deposit base under certain circumstances
Not all payments will benefit from blockchain – RBNZ research
Article recognises cross-border payments could be made more efficient with blockchain, but says the technology is not mature enough for domestic transactions
ESM should have simpler decision-making process – Olli Rehn
“Reinforced majority” voting would mean quicker reactions in crisis, says incoming Finnish governor
EBA and ECB hit out at capital hurdles to banking union
Top regulators frustrated by push to ring-fence capital and liquidity in EU subsidiaries of EU banks
Swift starts work on pan-European real-time payment connectivity pilot
Messaging infrastructure aims to connect Tips and EBA Clearing’s RT1 system