Financial Stability
Wynter considers financial inclusion in line with AML/CFT risk
Bank of Jamaica governor notes challenge in meeting both AML/CFT objectives and financial inclusion; suggests competent authorities must consider balance between the two
Irish bad bank shifts focus to delivering new property
National Asset Management Agency is shifting its focus to projects aimed at developing commercial and residential property; asset disposals to be reduced in scale as body winds down
Irish deputy defends macroprudential policies
Sharon Donnery says macroprudential housing policies would have limited Ireland’s financial crisis; leaked parliamentary report calls for bank to ‘urgently’ review measures
Norges Bank deputy: lack of common infrastructure hampers faster payments
Limited collaboration between banks in Norway is hampering availability of real-time payments and causing Norway to fall behind, Jon Nicolaisen says
LCH first clearing house to sign up to ISO 20022 harmonisation charter
Charter produced by Swift sets out measures for harmonising the implementation of ISO 20022; LCH.Clearnet Group becomes the first CCP to sign up
External factors most important inflation driver, Mauritius survey shows
Inflation expectation shows 71% of stakeholders asked believe external environment is most important factor in inflation pattern; exchange rate viewed as second most important
No room for complacency despite ratings stability, Sarb’s Myburgh says
South African Reserve Bank to help support credit rating through delivering on price stability and protecting and enhancing financial stability, financial markets head says
ECB paper considers impact of banking shocks on Portugal
Researchers examine impact of different types of credit supply shock on the Portuguese economy from 2005 to 2013; shocks to large banks may have had large impact on total investment
European Supervisory Authorities launch joint website
Joint committee of three European Supervisory Authorities launches website; European Commission proposes extending remit to three more countries from within the EEA
Cambodian central bank says $8 million grant will boost retail payments
National Bank of Cambodia announces grant from South Korean government to help develop payments infrastructure; hoping to discourage cash usage and support inclusion
Beware the bond price snapback, says BIS’s da Silva
Poor understanding of inflation drivers and possible disequilibrium from ultra-low rates mean emerging markets should not get too comfortable, says deputy general manager
Norges Bank paper offers insights on when to ‘lean against the wind’
Norges Bank working paper investigates the extent monetary policies should actively aim at mitigating the build-up of financial imbalances; using rates to curb credit growth could lower output
‘Urgent’ measures needed to counteract household debt – Riksbank report
Finansinspektionen needs powers to implement effective macro-prudential policies in order to combat household indebtedness, latest financial stability report says
‘Uncomfortable’ currency depreciation important for adjustment – Sarb governor
Advantages to depreciation easy to overlook, says Kganyago, noting South African manufacturing and services exports have become more competitive as a result
Lautenschläger floats idea of two-tier capital regulation for eurozone banks
Capital positions for large eurozone banks could be split into "requirement" and "guidance" levels, Sabine Lautenschläger says
Esma criticises European Commission plans for regulating NFCs
“Significant drawbacks” present in European Commission’s proposed approach to regulating non-financial corporations’ derivatives transactions, European Securities and Markets Authority argues
Financial crises raise transmission of US spillovers to Latin America – paper
Central Bank of Colombia paper shows Brazil is a “net transmitter” of volatility; transmission of spillovers increases in times of political and financial uncertainty
Belize governor worried about threat posed by ‘de-risking’
Regulators not fully taking note of uncertainty around regulation implementation; Caribbean region growth and financial stability “threatened” by pullback of global banks, governor says
Structural funding ratios could have helped detect failing banks – BoE working paper
Bank of England working paper reveals structural funding ratios could have helped detect which banks were likely to fail in the 2008 crisis; wholesale funding structures most prone to failure
IMF approves larger credit line to Mexico
Fund expands flexible credit line arrangement to $88 billion; confident Mexico's policies "will remain strong"
Eurobonds could be double-edged sword, researchers say
Banque de France researchers propose a new model of banks’ holdings of own-country sovereign debt; high holdings deter moral hazard but may exacerbate crises, they say
Afghanistan needs to use mobile money better, governor says
Mobile payments cut costs and risk, but take-up is hampered by lack of awareness, confidence and an “all-inclusive ecosystem”, says Sediq
Ukraine closes three further banks, offers reassurances on another
Ukrainian central bank closes down three medium and small commercial banks, while attempting to calm fears over the country's largest bank
Kohn encourages Chinese efforts on financial stability
Don Kohn, an external member of the Bank of England's FPC, welcomes Chinese work on a framework for macro-prudential regulation, and offers his insight on counterparts in the UK and US