Financial Stability
Wholesale CBDCs may not fix cross-border frictions – panellists
Policy-makers question whether CBDCs will make international payments faster and cheaper
ECB’s de Guindos calls for prompt action on climate change
ECB warns of “systemic risk” as it unveils preliminary results of eurozone-wide climate stress test
Credit line exposures worsened Covid bank stock crash – NBER paper
Authors suggest “contingent leverage” could be included in stress tests
UK’s FCA lays first-ever criminal charges of money laundering
Regulators charge NatWest with failing to monitor transactions; bank faces unlimited fine
BoE’s Woods says PRA needs more rulemaking powers
PRA chief dismisses “caricature” of the “rampant regulator intent on crushing the industry”
IMF delays SDR valuation review
Delay reflects priority placed on Covid-19 response and possible clash with other workstream
Bank of Thailand plans overseas PromptPay connections
Central bank aims to connect to retail instant payment systems in other countries
Riksbank renews Covid-19 lending facilities
Riksbank extends $60 billion facility and will penalise banks that do not lend to non-financial firms
Irish central bank requests more powers to regulate financial executives
Politicians say scandal at financial firm strengthens case for measures to act against wrongdoing
RBNZ winds back pandemic liquidity support
Use of two facilities has been “very low” in the last six months, RBNZ official says
Greenpeace lands activists on ECB roof
Stunt publicises new study arguing collateral framework favours high-carbon industries
Bank of Israel hails milestone in move to ‘smart payments’
Central bank is pushing transition to EMV payments that allow contactless transactions
MAS selects asset managers with green focus
Singapore government will start issuing green bonds, governor Menon says
BoE to consult on Sonia clearing mandate
Long-dated Sonia swaps set to lose clearing exemption as liquidity shifts from Libor
Sri Lankan central bank launches national financial inclusion strategy
Project aims to bring together “isolated efforts” on financial inclusion under central bank’s lead
Link between poor culture and higher bank risk ‘substantial’ – BoE paper
Regulators should ‘interrogate’ firm data to improve bank risk models, economists argue
UK regulators fix end date for Libor
Most Libor settings will cease at the end of 2021 as Bailey tells firms to finish their transitions
IMF staff suggest changes to Paraguyan supervision
Report calls for new pension fund supervisor and better supervision of non-banks
BIS paper proposes solution to ‘runnable brown assets’
Central bank liquidity backstop could boost stability and encourage firms to go green, authors say
Covid-19 reveals systemic flaws – Brainard
Fed board member weighs impact of March 2020 crisis in money markets, warning some risks remain
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
IMF urges São Tomé and Príncipe central bank to support recovery
Lack of tourism and drop in remittances has caused recession, fund says
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting