Financial Stability
Papua New Guinea upgrades payment system
More financial institutions to use new central switch in bid to improve efficiency and inclusion; international networks also to be added
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Norges Bank lays out plans for collateral management during resolution
Liquidity assistance in a resolution will “never” be a long-term solution, Torbjørn Hægeland says
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
Aussie regulator signals tougher misconduct stance
Asic warns it will use new powers to punish misconduct in wake of excoriating Royal Commission review
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
Law could help central banks fight the next recession
Brookings panel discusses using countercyclical regulations to boost spending at the ZLB
Shared supervision can help avoid ‘capture’ – BoE paper
Dividing tasks across agencies can lead to better outcomes by avoiding “supervisory capture”
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
RBI weighs plan to boost securitisation market
Government-sponsored intermediary could be formed to act as market maker and standard setter
Fed proposes new capital rule for insurance firms
Fed does not anticipate firms would have to raise new capital
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
MAS launches initiative to help payment firms with compliance
Two-month pilot will help connect payment firms with legal service providers
EU regulators must co-operate more over money laundering – EBA head
EBA will set up cross-border AML “colleges” but governments need to improve mandates, says Campa
Former Ukrainian governor says she was targeted in attack
Central bank says police must protect officials after Gontareva reveals she fears for her safety
Fed floats new stress test reforms after industry pressure
Previous proposal drew criticism from major global banks
Eurozone needs low-risk asset, ECB paper says
New asset would allow banks to change holdings of sovereign bonds, researchers argue
EU should stick with Basel output floor – ECB’s Enria
ECB supervision chief urges lawmakers to implement contentious Basel III model constraints
FDIC could reduce resolution costs by 17% – Bank of Canada paper
Eliminating uncertainty over auction process could reduce multiple bidding, researchers say
Tanzanian central bank fines lenders over in-country data centres
Move comes as doubts grow over quality of banking sector and official statistics
Asset bubbles play role in macro-prudential policy – IMF research
Their size may determine optimal tax levels to address credit imbalances