Financial Stability
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
Argentina attempts to speed up financial transactions
The central bank will allow the public to directly submit their tax returns to banks, as part of a series of measures designed to boost credit
Swift helps US real-time payments movement gain traction
The Clearing House will use Swift’s messaging software as “gateway” to new system, set to go live in 2018 after pilot phase
Bad assets ‘keep me awake at nights’ – RBI deputy governor
Reform proceeding at a “glacial pace”, says Viral Acharya
Brazil’s central bank creates DLT-based failsafe for RTGS
New system, designed as last line of defence, lacks appropriate privacy, central bank concludes; established solutions also ruled out as alternatives
Riksbank: housing market is a ‘serious threat’ to stability
Swedish central bank welcomes amortisation proposals, but says further measures may be needed
Bank swap rate reforms going well, Australian deputy governor says
Guy Debelle says BBSW rate will be strengthened by changes
Financial regulation, the PBoC and Zhou’s legacy
Zhou Xiaochuan failed to secure a new ‘super-regulator’ under the PBoC, but has ensured the central bank has a strong voice on China’s new apex stability committee at a time of increased regulatory scrutiny
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
Irish central bank updates minimum competency standards
Mortgage institutions must give board members annual training; the move brings regulations into line with updated European laws
PBoC offers reassurance on market liquidity after large-scale bond operation
Rollover of special government bonds will not have significant impact on liquidity, PBoC says; bonds were issued to finance China's sovereign wealth fund
BoE paper mulls tensions in PRA competition objective
Paul Fisher and Paul Grout argue a secondary competition objective can be made to work without clashing with primary objectives
Emergency liquidity fund set up for stressed Russian banks
Move follows the Bank of Russia taking effective control of a systemically important lender
IMF explores Balkan female employment conundrum
Fund shows policies are needed to secure both supply and inclusion of women; quality of institutions should be improved
Russia could spend $7 billion on bailout – deputy governor
Commercial bank’s mismanagement of liquidity problem led to avoidable crisis – analyst
New board oversight will not “lower the bar” – Fed’s Powell
The proposed new regulation will not lower the bar for boards or lighten the load of directors, says the Fed governor
Graeme Wheeler: LVR restrictions seem to be working
RBNZ governor looks back over five turbulent years; says housing market restrictions have reduced systemic risk and the market seems to be cooling
FSB urges Argentina to review macro-pru framework
International body encourages the central bank to consider creating financial stability committee, while improving co-ordination with regional regulators
Italian bail-outs may set bad precedent, ECB supervisor warns
But recent resolutions show system is working well operationally, Angeloni says
Customer relationships affect severity of bank runs – research
Swiss experience of the global financial crisis offers natural experiment to test what can exacerbate or mitigate a bank run