Financial Stability
Norway maintains countercyclical capital buffer at 2%
Norges Bank advises the government not to reduce the buffer because of high household debt
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
ECB publishes updated NPL guidance
Central bank recommends stricter framework than European Commission
Patel complains of ‘deep fissure’ in Indian regulation
RBI governor’s remarks seek to deflect criticism over recent Punjab National Bank scandal
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says
Esma working group concerned about Euribor transition timeline
ECB’s Cœuré says new regulation has set “demanding” timeframe to find alternative to benchmark interest rates
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
RBA highlights ‘unique’ design of Australian faster payments
System operates on a distributed basis, is separated from commercial “overlays”, and offers real-time settlement of each transaction, says assistant governor
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
Macro-prudential measures should be made to last – RBNZ’s Spencer
Outgoing governor wants temporary framework for loan-to-value ratios to stay; says debt-to-income instrument should also be part of toolkit
Return of volatility helps shatter market illusions – BIS’s Borio
Quarterly review focuses on recent market gyrations; researchers outline new early warning indicators for financial stress
Richmond Fed economists weigh idea to prevent bank runs
“Priority” bank accounts could force customers to reveal whether a run is developing
Treasury official calls on Fed to review foreign bank rules
Senate bill aims to relax US Sifi threshold but offers no relief for foreign banks
Zhou says China is ready for bolder reform
Zhou Xiaochuan comments on further progress with liberalisation and financial market reforms in what is likely to be his last press conference as PBoC governor
IMF advises rollback of Kenyan interest rate caps
Latest review finds caps have undermined the effectiveness of monetary policy and restricted credit access; Kenyan authorities ask for six-month programme extension
MAS steps in to calm job-poaching battle between insurers
Singaporean authority is concerned job-switching bonuses may be driving aggressive sales tactics
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
Mobile money taking off in Rwanda – report
Central bank documents an increase in both users and volume of transactions across mobile financial services
Deregulatory bill gathers bipartisan support in US Senate
The amendment lifts the asset threshold beyond which banks are submitted to stricter oversight
Standard setters welcome effort to halt correspondent banking decline
Efforts to standardise data gathering aim to cut cost of correspondent banking, as latest FSB figures show further decline