Financial Stability
EU Council aims to limit bail-in debt rules
Leaked BRRD text reveals Greek and Portuguese banks could escape subordinated debt regime
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
BNM may reopen probe into alleged massive fraud at 1MDB
Malaysian central bank may face questions over its role in investigating alleged crimes
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
Small depositors do not pose greater run risk – BIS paper
Authors say their findings imply financial inclusion need not create instability
Brainard ‘optimistic’ DLT has future in financial services
While privacy remains a concern, Fed board member believes resilience of the technology means it has a future, even if crypto dies out
Fed nominees back regulatory efficiency drive
Nominees stick to efficiency line despite hostile questioning from some Democrats
Canada’s Project Jasper finds DLT is viable for securities settlement
Phase III of the project saw central bank cash and assets instantly settled across a DLT network where privacy is maintained
The toxicology of post-crisis shadow banking
Mark Carney tempted fate in 2017 when he declared the most toxic forms of shadow banking “no longer represent a global stability risk”. Did he speak too soon?
Draghi renews calls for wider economic union in Europe
ECB head recommends fiscal backstop for resolution fund criticised by German policymakers
Climate change risks ‘already with us’ – BoE’s Breeden
Sarah Breeden urges financial firms to take action on both opportunities and risks
Philip Lane on systemic risk, transparency and Brexit
The Central Bank of Ireland governor speaks with Dan Hardie and Chris Jeffery about transparency, shadow banking, ECB succession and tackling systemic banking risk in the eurozone
Adrian and Rey: macro-prudential tools needed to resist ‘bad booms’
Economists say monetary policy cannot fully control local conditions; Hélène Rey calls for improved early warning models
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
Danish regulator sanctions biggest bank for Estonian money laundering
FSA chairman resigns as Estonian regulators fail to comment on allegations
ECB awards $19.6 million treasury contract to Openlink
Central bank says treasury management system is a “mission critical” system; Openlink’s Findur platform will be implemented by 2019
Argentina calls on IMF for help
President Macri calls upon the IMF for financial aid as peso depreciation continues; policymakers hold rates at latest meeting
RBNZ probes banks’ conduct after Australian inquiry reveals malpractice
New Zealand regulators express alarm over revelations from Royal Commission
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
‘Black box’ models present challenges – US regulators
US officials say they have some powers to assess AI tools, but resourcing is problematic
Irish central bank may force banks to act on gender diversity
Deputy governor Donnery says central bank may act if voluntary agreements do not work