Financial Stability
UK regulators count cost of Brexit work
PRA and FCA devote additional resources to handling UK’s withdrawal from EU
Iceland is ready to drop final capital controls – Guðmundsson
Icelandic governor says economy is sturdy enough to allow the removal of the remaining controls
No one can win a trade war, says Benoît Cœuré
Senior ECB official says US growth could be cut by 2.5% by tariff hikes
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Student debt becomes a bigger threat to US financial stability
The debt has surpassed auto loans and credit cards, and now only trails mortgages
Gambia’s central bank seeks greater independence as fiscal dominance ends
Central Bank of The Gambia to work on autonomy and data management under new fund programme
Fed’s Brainard notes pro-cyclical challenges to supervision
Fiscal stimulus at a time when the economy is running hot requires vigilance, governor says; stress tests cannot counter all pro-cyclicality in credit
IMF urges Costa Rica to shore up financial stability defences
Fund calls for increased transparency from financial stability committee and action to tackle dollarisation risk
Macro-prudential policies cool Sweden’s housing market
Private debt continues to increase, but loan-to-value ratios are falling
Russian central bank plans $19 billion loan to new ‘bad bank’
Entity will take over distressed assets from three banks that failed in 2017
Risky firms can transmit financial cycle – BIS paper
Authors find smaller, younger firms are more likely to tap into global markets during risk-on phases, creating vulnerabilities
Basel Committee highlights best practice for early intervention
Supervisors have become more forward looking and adopted new tools since 2008 in a bid to catch trouble early
BoE: UK-based financial firms will face same regulations during transition period
“Back-stop” will be available if withdrawal agreement is not ratified - BoE
Official inquiry finds ‘evidence of misconduct’ by Australia’s largest banks
Four largest banks may have continuously breached credit issuance legislation
Europe’s CCP recovery rules draw fire
CCPs and clearing members unhappy with proposed allocation of non-default losses
BoE outlines DLT proof of concept
Participants will access cloud-based platform which will simulate new RTGS system
UK crime agency probes possible fraud against National Bank of Angola
Former Angola central bank governor indicted amid $500 million fraud allegations
Dudley outlines tougher incentives to make bankers behave
New York Fed chief says compensation could be linked to banks’ loss absorbency