Financial Stability
Brexit should not lead to restrictions on financial trade – FCA’s Bailey
If UK and EU work hard to maintain similar regulations, Brexit need not lead to restrictions on open markets and free trade, says FCA chief executive
Wholesale funding ‘dry-ups’ driven by bank quality, ESRB paper argues
Researchers use data on certificate of deposit market between 2008 and 2014
European Commission approves Monte dei Paschi recapitalisation
Move to reimburse investors should remove key political obstacle
Authority needed to tackle housing problem – Malaysian deputy
Malaysian deputy discusses the affordable housing dilemma, concluding that greater co-ordination is needed on a national level
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
Macedonia’s Kadievska: DLT could ‘completely replace’ some intermediaries
Maja Kadievska analyses the pros and cons of distributed ledger technology, noting it could have the power to cause disruption to existing financial market infrastructure
Irish supervisor warns of return to light-touch regulation
Some banks’ handling of liquidity issues is concerning, says Sibley
Carney hails progress but Basel III must be completed ‘urgently’
FSB chair calls for more work on over-the-counter markets
Basel Committee flags shortfalls in implementation
European Union is yet to fully comply with the liquidity coverage ratio, while many jurisdictions are lagging behind in other areas
Too early to tell if eurozone NPL reforms are sufficient – ECB
Changes to legal systems are “not keeping pace” with new laws
Russian central bank slams ruling in €1bn Sberbank swaps case
Lawyers say shock court judgement in ruble options dispute “puts hundreds of contracts at risk”
Fixing the ‘perverse incentives’ in the SLR
Richard Heckinger warns the US’s supplementary leverage ratio in its current form discourages banks from using central counterparties
Are central banks allowing markets to get a bad name?
Dispute over the role of offshore derivatives trading in Asia raises important questions about the role of financial markets in a world increasingly dominated by short-term trading
IMF says remittances do not balance out losses caused by emigration
Remittances are key for providing support to LAC countries in terms of fiscal and financial stability; lack of labour resources and decline in productivity outweighs remittance support
EC must address concerns over state aid – ECB’s Angeloni
ECB supervisor says Italian aid to Intesa raises serious questions
Monetary policy ‘significantly’ affects the trade balance – paper
IMF paper links the effects of monetary policy on trade and its impaired transmission following the financial crisis
WEF report calls for global standards on blockchain
Authors say it is time for ‘global action’ in fostering fintech innovation; task forces need to be created to create global standards, while funding should be provided to help research