Financial Stability
Fixing the banks is not enough – Adair Turner
Robust banks can supply credit but the real damage from financial crisis is caused by lack of credit demand, former FSA chief says
Debelle calls for more thought on financial stability independence
RBA deputy says financial stability needs its own intellectual framework; panellists warn independence likely to face tougher challenges ahead
Fitch warns Philippines on prudential standards
Real estate sector appears stable but risks could “crystallise” if left unchecked; closer central bank scrutiny may prove inadequate
Poor monitoring led to rise in NPLs, says Rwanda’s central bank
NPLs rose to 8.2% in June, according to central bank stats; banks urged to strengthen monitoring and credit underwriting processes
Malaysian opposition: bank must act against 1MDB officials
Bank Negara Malaysia says it will continue to work with international agencies over alleged fraud
Italian finance sector must change, deputy governor says
Banks too exposed to cyclical conditions and firms too dependent on loans, Rossi says
Capital rules may be too risk-sensitive, Basel fears
Complexity is slowing the roll-out of standards, says Basel Committee deputy
Portuguese governor clashes with government
Treasury intends to transfer banking resolution competencies out of the central bank
BoE issues consumer credit warning to banks
Preliminary stress-test results show UK banking system could incur £30bn loss over three years; UK central bank says financial system is “underestimating losses”
Monetary Authority of Singapore courts Asia bond issuers
MAS aims to strengthen Singapore’s position as Asia’s fixed-income hub for bond issuers
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
Central banks will be using blockchain by 2019 – research
Study examines pros and cons of central banks adopting blockchain and considers use cases
Uruguay’s digital currency pilot ‘close to launch’, says governor
Central bank’s initiative will allow the public to access digital currency via mobile wallets; Ecuador’s prototype proves a flop
DLT not ready for retail payments – Bundesbank
German central bank says retail payment systems are already sufficient to support fast transfers; DLT could be used to streamline global payment processes
European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
‘Fault lines’ may be re-emerging, warns Bini Smaghi
Societe Generale chairman says supervisors should not rest easy until they have a better understanding of the “fundamental causes” of financial crises
Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
Bank of Russia will be able to handle fallout from failing banks, analysts say
Central bank puts two more banks into administration; observers disagree over effectiveness of Nabiullina’s reform efforts
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
Don Kohn extols virtues of co-operation across policy domains
Good communication between policymakers in different spheres and complementary policy action can bring significant benefits, FPC member says