Financial Stability
Richmond Fed economists weigh idea to prevent bank runs
“Priority” bank accounts could force customers to reveal whether a run is developing
Treasury official calls on Fed to review foreign bank rules
Senate bill aims to relax US Sifi threshold but offers no relief for foreign banks
Zhou says China is ready for bolder reform
Zhou Xiaochuan comments on further progress with liberalisation and financial market reforms in what is likely to be his last press conference as PBoC governor
IMF advises rollback of Kenyan interest rate caps
Latest review finds caps have undermined the effectiveness of monetary policy and restricted credit access; Kenyan authorities ask for six-month programme extension
MAS steps in to calm job-poaching battle between insurers
Singaporean authority is concerned job-switching bonuses may be driving aggressive sales tactics
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
Mobile money taking off in Rwanda – report
Central bank documents an increase in both users and volume of transactions across mobile financial services
Deregulatory bill gathers bipartisan support in US Senate
The amendment lifts the asset threshold beyond which banks are submitted to stricter oversight
Standard setters welcome effort to halt correspondent banking decline
Efforts to standardise data gathering aim to cut cost of correspondent banking, as latest FSB figures show further decline
ECB largely supports Commission’s proposals for ESRB
ECB president would become ex officio head of systemic risk body
Quarles reveals plan to simplify Volcker rule
The Volcker rule is too complex and “is not working well”, says Fed vice-chair; regulators preparing a package of “material changes”
Botswanan governor announces formation of financial stability council
Governor Pelaelo says council, formed of central bank and government officials, will be responsible for regulating and supervising the financial sector
Global shadow banking assets hit highest level since 2002 – FSB
FSB report uses data on Luxembourg for first time and examines Chinese shadow banking risks
IMF paper looks at how inflation anchoring affects growth
Authors examine whether low inflation and anchoring inflation are positive for growth
Authorities can’t rely on monetary policy to fight next crisis – Rohde
Danish governor says rebuilding capital buffers should be a priority
Hong Kong prepares boost to equity derivatives booking
Proposed revamp of large exposure limits would allow netting to reduce capital charges
MAS mulls activity based approach to regulation for virtual currencies
Deputy director of Singapore's central bank says fintech regulations should be “right-sized”
Yellen says central banks should consider moving inflation targets
But former Fed chair says changing targets would be “a tricky business”
MAS needs expanded resolution powers, FSB report says
Singapore's central bank should clarify oversight of macro-prudential policies, says peer review
PRA’s Sam Woods rebuts 'myths' about Solvency II
Directive has neither “crushed growth” nor driven up prices, Woods argues; regulator will form subcommittee to discuss challenges with participants
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering