Financial Stability
Malawi’s IMF programme ‘fell short’ on growth
Future IMF support will aim to foster growth and alleviate poverty in Malawi, as ECF fails to provide adequate resilience to external shocks
Tougher action needed on China debts – research body
Asean research office says corporate debt needs close monitoring, even if immediate crisis is unlikely
Russian central bank acts to save systemically important bank
Bank of Russia appoints administrators to country’s eighth-largest commercial bank
Draghi and Yellen issue warnings on regulatory rollback
The two central bankers used their speeches at Jackson Hole to focus on the dangers of abandoning the lessons of 2008
BIS research says macro-pru could help African central banks
Paper shows African central banks are less likely to allow exchange rate deprecation when reacting to external shocks
Fed announces Libor alternative
Secured Overnight Financing Rate will measure overnight treasury financing transactions
EU countries must stop state-funded bail-outs, Bundesbank board member argues
Use of state funds to bail out banks “not in the interest” of legislators, Dombret says
Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp; deputy governor says current ‘implicit’ deposit protection not sufficient
Sarb gains greater regulatory oversight
President Zuma signs ‘twin peaks model’ into law, granting central bank powers to mitigate risk and shore up financial stability
Malaysian central bank slams Ice and SGX over ringgit futures
Making them available offshore goes against foreign exchange rules, says Bank Negara Malaysia
European insurance resolution needs major reform – ESRB
Insurance sector’s contribution to systemic risk has increased but current tools are insufficient, report says
RBI closes in on ‘endgame’ in bank clean-up
Governor Urjit Patel says the central bank’s new powers have allowed it to overcome “severe” moral hazard problems; state-owned banks will need recapitalisation, he says
IMF paper explores sustainability of price rises in Colombia
House prices have increased more than 110% in real terms in major cities, but houses are just 13% overvalued
Russian central bank alleges criminal behaviour at several closed banks
Bank of Russia closes five banks and reports shortfalls or malpractice at four more
Denmark’s central bank proposes reforms to mortgage credit market
National Bank of Denmark suggests increasing competition between mortgage banks and other financial institutions as a way to reduce financial instability
Banks are scrambling to hit IFRS 9 deadline – survey
Many banks appear to have been caught off-guard by the complexity of adapting to IFRS 9; impact assessments still patchy, but some see provisioning needs up by 40% or more
Sarb expands financial supervision
Deputy governor explains the Sarb’s new financial supervisory structure, and indicates it may affect central bank independence
RBA payments board backs ‘digital identity’ for Australians
Board encourages payments industry to work on a framework that could make online transactions more convenient and secure
Philippines sees strong ‘hot money’ inflow despite currency weakness
Net inflow of foreign portfolio investments into Philippines hits six-month high, in contrast to weakness in peso
Archive – Interview: Allan Meltzer
Robert Pringle talks to Allan Meltzer, Carnegie Mellon professor and chair of the US Congress’s International Financial Institution Advisory Commission (the “Meltzer Commission”); first published in February 2003