Financial Stability
Bank of Ghana places troubled UniBank under administration
Central bank says it has made several attempts to save the mid-sized lender since 2016, but claims lack of co-operation from management and false information led to failure
UK’s PSR needs powers to protect cash – report
Think-tank report believes regulator should have consumer protection mandate, as cash machine closure threatens to leave the public excluded from payments network
Global leverage may be higher than supervisors realise – IMF paper
Standard measures of leverage are too focused on balance sheets, researchers say
Lawmakers should not yet intervene on big data – European agencies
Financial institutions should develop best practice for big data, ESAs say
BoE’s FPC sees risks lurking in global debt markets
Committee highlights “material” global vulnerabilities, particularly in debt markets
CPMI adds three new members
All G20 members and more emerging markets are now represented
FSB: cryptocurrencies too small to be major threat
Limited links to real economy imply crypto assets may avoid regulatory crackdown for now; work continues on consumer protection
BoE changes stress test framework but keeps scenario the same
Stress tests will attempt to gauge impact of IFRS 9
Norway maintains countercyclical capital buffer at 2%
Norges Bank advises the government not to reduce the buffer because of high household debt
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
ECB publishes updated NPL guidance
Central bank recommends stricter framework than European Commission
Patel complains of ‘deep fissure’ in Indian regulation
RBI governor’s remarks seek to deflect criticism over recent Punjab National Bank scandal
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says
Esma working group concerned about Euribor transition timeline
ECB’s Cœuré says new regulation has set “demanding” timeframe to find alternative to benchmark interest rates
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
RBA highlights ‘unique’ design of Australian faster payments
System operates on a distributed basis, is separated from commercial “overlays”, and offers real-time settlement of each transaction, says assistant governor
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
Macro-prudential measures should be made to last – RBNZ’s Spencer
Outgoing governor wants temporary framework for loan-to-value ratios to stay; says debt-to-income instrument should also be part of toolkit
Return of volatility helps shatter market illusions – BIS’s Borio
Quarterly review focuses on recent market gyrations; researchers outline new early warning indicators for financial stress
Richmond Fed economists weigh idea to prevent bank runs
“Priority” bank accounts could force customers to reveal whether a run is developing