Financial Stability
Podcast: Payment networks of the future
Liz Oakes (Mastercard) and Somya Patnaik (ACI Worldwide) discuss how central banks can ensure consumers get the most out of new payment infrastructure
Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
BoE launches ‘exploratory’ CCP stress test
Central bank will test credit and liquidity exposures, and will also conduct “reverse stress tests”
DNB calls on government to calm Dutch housing market
Tax reforms and greater supply needed to deal with “too much money and too few houses” – Knot
US bank mergers have not cut branch access – Cleveland Fed
Despite fall in banking firms, number of branches has grown, research finds
BIS paper finds flaws in green taxonomies
“Taxonomy of taxonomies” proposes tackling weaknesses in categorisation of green assets
Philippines sets ‘P2M’ QR payments in motion
New function could help BSP hit 50% digital retail payment target, says governor
MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
UK government mulls giving BoE new payment supervision powers
BoE would oversee firms within the broader ‘payment chain’
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Summers fears for Fed’s ability to remove ‘punchbowl’
Central banks may not be able to counter inflation threat amid possible return to 1960s economics, says former US Treasury secretary
China’s financial market at risk of ‘distress’, RBA report warns
Authorities may have to choose between market discipline and intervention to save Evergrande
Cœuré warns ‘analogue’ supervisors must adapt to digital world
BIS official says growth of fintech demands supervisors respond with technology of their own
MAS says it is ‘examining’ allegations against local firm
Pandora Papers report alleges MAS was concerned by firm’s handling of Russian clients
Financial Stability Benchmarks 2021 report – keeping the sector secure
Benchmark exercise presents responses on AML/CFT, cyber, macro-prudential and other risks
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
Greater competition cut US banks’ ‘insider lending’ – BdF paper
Researchers quantify bank owners’ and executives’ loans to themselves and their interests
Most respondents externally accountable on financial stability
All responding central banks said they publish a financial stability report at least once a year
Financial stability powers are sufficient, say most central banks
Two African central banks say they urgently need more powers over financial sector
SSM reduced large eurozone banks’ risk-taking – ECB paper
Reduced credit risk was driven by supranational authority’s greater efficiency, authors argue
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
Pandemic is top stability concern for benchmark respondents
House prices, cyber crime and crypto assets are also major worries for central banks