Randal Quarles
Supervisors grapple with the smaller bank dilemma
How are the guardians of stability moving to address risks linked to smaller banks in the aftermath of SVB’s collapse?
People: Knot to assume FSB chairmanship
New board members appointed at central banks in Brazil and Peru
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
Fed’s Quarles says there is no case for a US CBDC
Central banks should not waste resource or risk “significant disruption” to the banking system
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
The six key drivers for digital currency
Dave Birch breaks down the forces that are pushing central banks towards CBDC
FSB maps path for climate reforms
Global body is playing a co-ordinating role given interconnected risks
FSB proposes menu of policies to tackle money market fund risks
Proposal aims for tailored approach to boosting resilience of key funding markets
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
Money markets in focus for FSB non-bank work
FSB set to publish policy proposals for tackling risks in July
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
US Fed facility bought Libor bonds with ‘weak’ fallbacks
Industry figures express surprise over purchases linked to doomed benchmark
Fed keeps some limits on bank dividends
All banks keep above minimum capital ratios under second round of stress-testing
Quarles: Fed’s supervision should evolve
Fed vice-chair says supervision has not been adequately scrutinised in the past
Dollar Libor reprieve sparks fallback uncertainty
Popular settings to end in June 2023; market seeks clarity over timing of fallback spread triggers
FSB to tackle systemic risk in non-bank sector
Regulation likely but policy-makers want to avoid damaging an important funding source
Quarles: policy-makers have ‘work to do’ on non-bank fragilities
FSB chair outlines areas where non-banks may have amplified the Covid-19 shock
Fed mulls action on short-term funding markets
Randal Quarles says it is “disappointing” that the Covid-19 crisis carried echoes of 2008
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts