Financial Stability
ECB has made ‘little use of macro-pru powers’, senior official says
Eurozone authorities lack powers to deal with diffuse sovereign risk or shadow banks – ECB official
Carstens warns world is not fully prepared for fresh crisis
IMF does not have the resources to act as global lender of last resort, says BIS chief
Brainard reboots calls for countercyclical buffers
“Countercyclical capital requirements build resilience, unlike monetary policy,” Brainard says
Bahrain launches new repo instrument to foster interbank lending
Move comes after IMF directors back government’s attempt to diversify oil-based economy
IMF tells Jamaica to bring in risk-based supervision
IMF sets year deadline for new framework implementation and urges improved co-ordination among regulators
Costa Rican congress passes central bank-backed tax reforms
Reforms were ‘not only necessary, but urgent’, central bank says
Finnish regulators need more macro-pru, deputy governor says
Current toolkit is not sufficient to deal with rising levels of household indebtedness
BoE issues warning over global leveraged loan market
Scale, growth and lending standards similar to pre-crisis subprime lending, BoE reports
Lack of monetary autonomy ‘central’ to eurozone debt crisis – researchers say
Spain would have been ‘immune’ to rollover debt crisis outside eurozone – Minneapolis Fed paper
Trade dispute causes PBoC ‘a lot of problems’ – Peking University's Xiao Geng
Monetary policy dilemma for PBoC due to US trade dispute; FSDB can curb regional excesses
Bundesbank paper looks at effects of sanctions regimes
German banks cut activity in sanctioned countries but subsidiaries may increase lending, paper finds
South African central bank launches review of payment system
Sarb says its regulatory mandate needs more clarity and calls for more powers over fintech
Podcast: How to fight the next crisis
In the last of the series, Yale’s Andrew Metrick warns we may be less prepared for crisis-fighting now than we were before 2008
BoE held back on Brexit commentary for fear of influencing negotiations
UK central bank planned to publish analysis after the country left the EU in 2019
Carney warns on ‘uncomfortable’ Brexit compromise
Governor fears some Brexit outcomes could restrict the BoE’s regulatory options; defends no-deal Brexit analysis
Cyprus governor says 2015 police raid stopped her investigating politicians’ debts
Governor Georghadji offers to re-start investigation into loans to “politically exposed persons”
New US tariffs have varying impact on prices – Canadian research
Over the long term, tariffs have “modest impact” on aggregate prices and output, but there are likely to be short-term price movements as sectors face capacity pressures
Ghana’s Addison blames predecessors for banking system weaknesses
New governor closed seven banks in 12 months in banking system clean up
Podcast: Preventative measures
Many central banks currently lack a key power that could help them deal with crises, argues Yale University’s Andrew Metrick
Head of Polish financial regulator arrested on corruption charges
Central bank governor still has PM’s confidence after defending accused regulator – senior official
Palestine launches financial inclusion strategy
PMA hopes to push inclusion rate up to at least 50% by 2025