Financial Stability
CFTC’s Pan: PFMIs not a template for global regulation
US regulator has previously warned EU supervisors not to unpick hard-won equivalence agreement
BoE to provide ‘tailored’ assistance to African counterparts
UK central bank to share expertise with counterparts in South Africa, Sierra Leone and Ghana, as part of wider initiative to support African economies
Chinese housing markets need to make ‘painful adjustment’ – IMF paper
Authors suggest governments set up body to ensure liquidity is available for housing market if prices fall suddenly
Irish deputy governor warns of Brexit risks
But Ed Sibley says “much of the heat has gone out of regulatory arbitrage issue”
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
Synchronisation of global house prices poses new risks – IMF
Macro-prudential housing policies may be affected by global movements, researchers say
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
Prudential curbs on lending are working – RBA report
Central bank says concerns over riskier forms of lending “have eased”
Book notes: The paradox of vulnerability, by John Campbell and John Hall
Quality of national institutions vital to handling financial crises, say authors
Former governor: Life lessons from Taiwan
Perng Fai-nan, former governor of the Central Bank of the Republic of China (Taiwan), shares key insights upon accepting Central Banking’s Lifetime achievement award
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
BoE should not merge monetary policy and macro-pru - Broadbent
Merging key committees could undermine accountability, says deputy governor
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
Fed outlines simplified capital regime
“Stress capital buffer” would likely raise capital requirements somewhat for many of the largest banks and lower them for the smallest, the Fed says
Yi Gang unveils timetable for opening up measures
No plans to depreciate renminbi amid trade spat, PBoC govenor says; denies there will be a “big bang” reform in financial sector
Investment key to Europe’s digital future, says Commission’s Ansip
Commission vice-president provides update on digital single market project
Missing $500 million returned to Angolan central bank
Finance ministry attempts to set the record straight over alleged fraud, which used dormant company as a mask for the illegal transfer