Financial market infrastructure
Banking deserts increase in ‘majority-minority’ areas of US
Dearth of facilities disproportionately affects non-white citizens and people with disabilities
US CBDC ‘could enhance dollar’s international role’
Fed research claims issuing digital currency could increase demand for dollars more generally
Philippine central bank may issue wholesale CBDC in two years
However, governor rules out using blockchain-based technology for digital peso
Monetary policy shocks ‘amplified by financial integration’
Expansionary policy in one country leads to contraction in another, BoC researchers find
Large cap on Canadian CBDC curbs disintermediation
Central bank paper says currency will benefit rural populations underserved by commercial banks
BoE puts American spin on fix for FRTB’s govvies dilemma
Four jurisdictions find four different ways to resolve Basel market risk capital quirk
Europe’s new AI Act threatens supervisory ‘chaos’ for banks
Policy-maker says new role for European Commission could collide with ECB model risk regulation
MAS seeks to simplify data collection rules for insurance sales
Proposal aims to allow customers in Singapore to buy simple policies more easily
Asia’s central banks ‘must do more to fight climate change’
IMF paper calls on financial institutions to improve disclosure standards and risk analysis
CBDC would not destabilise Italian banks, research finds
But fully anonymous digital currency could increase flight from deposits, Bank of Italy paper says
Market seeks details of PBoC plan to open onshore repo trading
Traders welcome the move but want clarity on legal and collateral issues
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Clearing members fear CFTC bending rules for crypto
Critics warn new framework for Bitnomial and LedgerX could undermine clearing integrity
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
Extreme temperature harms household finances, warns paper
Payday loan delinquency and defaults increase during extreme weather
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
Europe’s half-baked benchmark switch leaves some dissatisfied
Users frustrated by narrow scope of euro transition, but replacing Euribor was never a euro group objective
CFTC sounds alarm on clearing capacity
US regulator warns porting cannot be guaranteed in the event of a large member default
Treasuries market is robust, NY Fed officials tell conference
Financial markets need more data transparency, though
Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
Lagarde calls for stronger EU securities and markets authority
ECB president stresses completing capital markets union is essential to deal with deglobalization, ageing and climate change
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
‘Buy now, pay later’ may target the financially fragile – NY Fed
Researchers warn sector may not be resilient