Financial Stability
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
Schoolgirl takes over management of Paraguay’s central bank
Alejandra Belén attended a board meeting and gave official address during her day in office; central bank takeover forms part of wider campaign
BoE paper examines regulation spillover effects
Case study analyses effect of Spanish balance sheet regulation on Mexico’s economy, showing housing credit contracted
Banking industry has ‘consistently failed customers’ – Ireland’s Sibley
Banks should focus on whether outcomes are desirable, not just whether they are legal, says deputy governor
Widening exchange rate band is not a top priority – PBoC’s Zhou
Zhou makes first public confirmation he is set to retire soon; warns the country’s excessive optimism could lead to a “Minsky moment”
Cambodia launches first phase of payment inclusion network
New network will allow customers greater access to financial services through ATMs and POS to make interbank transactions
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
Investors should not be concerned about revote – Kenya’s Njoroge
Central Bank of Kenya governor is confident whoever wins presidential revote will pursue market-based policies
Fed’s Powell: banks still have important role in payments
Fintech is disrupting the sector, but banks still form a major part of payments infrastructure, so they must be included in work on faster payments, says governor
FSI paper offers lessons from Asia for IFRS 9 transition
Jurisdictions may wish to draw on Asian approach to provisioning when moving to IFRS 9
Bank of Portugal sells majority share in ‘good bank’
EC permits recapitalisation deal with US investor after lengthy attempts at sale
Canada’s Project Jasper to explore clearing of securities in third phase
Central bank teams up with new partner for phase three of DLT project, with results expected in May 2018
Kazakh central bank injects $1.2 billion into four banks
Institutions submitted plans to increase capital and reduce NPLs, says governor
Half of UK consumers ‘potentially vulnerable’ – FCA survey
First survey of ‘financial lives’ finds over 25 million people at greater risk of financial difficulties
Irish deputy governor warns hard Brexit is ‘entirely plausible’
Ed Sibley voices concerns over new costs and frictions in European markets; EBA warns against setting up “shell offices” as response to Brexit
PBoC’s Zhou warns China’s leverage is ‘relatively high’
Governor says corporate sector debt has ballooned partly due to local government financing vehicles
Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon; both internal and external threats remain
Carney warns against splitting London’s euro clearing
Europe would suffer more than the UK if euro clearing moves to the EU post-Brexit, Bank of England governor says
Basel Committee in ‘last few metres’ of post-crisis marathon
Secretary-general says it would be unwise to quit with the finish line so close, but adds the committee won’t be running another marathon for a while
US Treasury hands CCP resolution powers to FDIC
Mnuchin regulatory review explicitly refers to FDIC as receiver under a Title II resolution