Micro-prudential
Home truths on Europe’s NPLs
Europe needs to overcome fears of a hypothetical crisis, and impose more intrusive supervision and greater provisioning on its banks
BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight; changes imply heavy workload for the supervisor
Russian central bank closes two more banks for malpractice
Smaller banks will be able to operate with “basic licences” from 2018, Nabiullina says
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
NBK intervenes as Kazakh banking troubles spread
Central bank moves in to rescue one bank and triggers liquidation of another
BoJ says Japan is overbanked
The central bank says Japanese banks may have too many employees and branches
Banking industry has ‘consistently failed customers’ – Ireland’s Sibley
Banks should focus on whether outcomes are desirable, not just whether they are legal, says deputy governor
London-based banks face ECB Brexit power grab
Drive to supervise swaps books from Frankfurt threatens cross-border balance sheet management
FSI offers guide to liquidity monitoring tools
Basel III makes liquidity more comparable and consistent, but more tools may be needed to capture “jurisdiction-specific issues”, Financial Stability Institute says
Fed fines HSBC $175m for unsafe forex practices
The London-headquartered bank has been ordered to improve its practices by a Fed cease-and-desist order
Bank Indonesia targets fintech firms with new anti-money laundering rules
The new regulation is applicable to non-bank financial services, money changers and fintech firms
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
Malaysian central bank slams Ice and SGX over ringgit futures
Making them available offshore goes against foreign exchange rules, says Bank Negara Malaysia
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
PRA’s tough line on Pillar 2 disclosure divides lenders
Watchdog seeks to level playing field with public disclosure of total capital requirements
FCA set to replace Libor by 2022
The interbank lending rate was manipulated by major banks during the financial crisis to give a healthier picture of their credit quality
Russian prosecutor clashes with central bank
Bank of Russia must take commercial bank out of administration, prosecutor says
Ukrainian central bank bars PwC from further audits
NBU says firm verified “misrepresented information”, but PwC denies charge
European Commission approves Monte dei Paschi recapitalisation
Move to reimburse investors should remove key political obstacle
EC must address concerns over state aid – ECB’s Angeloni
ECB supervisor says Italian aid to Intesa raises serious questions
European supervisory authorities set out AML-CFT guidelines
Document spells out methods for implementing “risk-based approach”
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
Ukrainian central bank calls for $1.5 billion more capital for PrivatBank
National Bank of Ukraine says forensic auditor will report in September
Biggest US banks weather severe stress test
Fed report on stress tests applied to 34 bank holding companies indicates largest institutions would remain well capitalised even in a severe shock