Asia
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
MAS’s Chia points to the value of EM bonds
Singapore’s reserves and markets chief says interest in onshore Chinese bonds may act as a catalyst for emerging market bonds at a time when the outlook for yields from traditional reserve assets remains low
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
Indonesia considers new riskier tranche for reserves – Budianto
Head of reserves says political risks are more of a worry than portfolio flows; explains how Bank Indonesia’s strategy reinforces market development in 30-minute interview
Archive – Interview: Allan Meltzer
Robert Pringle talks to Allan Meltzer, Carnegie Mellon professor and chair of the US Congress’s International Financial Institution Advisory Commission (the “Meltzer Commission”); first published in February 2003
People: IMF official appointed Bank of Ghana deputy; new communications chief for BoE
Former IMF official appointed first deputy at Bank of Ghana; BoE forecasting chief moves into new communications role; and more
Book notes: The Tides of Capital, by Julia Leung
This “stimulating read” offers a unique perspective on how Asian countries have developed economically over the past 20 years. More interesting is Leung’s unintentional revelation that they still have a long way to go
New leaders take charge at Philippines central bank
New governor pledges to enhance financial inclusion, mitigate cyber-crime risk and fine-tune monetary policy to make it more market-oriented
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
BoJ told to improve communication on potential exit from stimulus
Speculation is growing over the timing and method of the exit from the stimulus programme, creating a new communication challenge for the BoJ
Indonesian banks will switch to reserves averaging in July
Latest move in Bank Indonesia’s major overhaul of monetary policy transmission and efforts to deepen financial markets
Australia’s bank levy could squeeze TLAC drive
Issuing Tier 2 and senior unsecured debt will become more expensive for the top four banks in the country
BNM’s Ibrahim urges Asia to “re-engineer” global monetary system
Countries should reduce their reliance on the US dollar and promote a “multi-currency market” within Asean, says Muhammad bin Ibrahim
MAS’s DLT project posts successful results
Network issues digital Singapore dollars across a DLT network to settle interbank debts; problems with credit risk and liquidity will be addressed in future work, central bank says
NPLs ‘must’ rise during downturns – MAS’s Menon
If NPLs failed to rise during “difficult times”, that would be a sign banks are not doing their job right, MAS chief says
Bank Negara governor defends efforts to curb NDF market
Malaysian central bank will continue its actions to improve market mechanism to facilitate an open and robust onshore financial system
No Asean pan-regional regulator in near future – panellists
Divergent stages of development, a desire for sovereignty and the limited business case are hampering further integration, speakers say
Tackling the ‘human agency’ problem
Central banks are readying their communication strategies to mitigate a populist backlash against their post-crisis policies
BoJ’s Kuroda cites three channels to promote financial inclusion
Bank of Japan governor urges policymakers to enhance financial inclusion in Asia
BoJ cuts inflation forecast at a time of falling JGB purchases
Bank of Japan reduces forecast to 1.4% as bond purchases appear to be declining
A CCP is a CCP is a CCP
The challenge of establishing standards for CCP risk management and resilience is even more difficult when policymakers view CCPs through the lens of banking regulation
Bank Negara Malaysia official offers tough line on corruption
Malaysia’s central bank has a “zero tolerance policy” and will not protect those who choose to cross a line, assistant governor says; institution has “refreshed” ethical framework
MAS’s Menon stresses importance of fintech regulation timing
Fintech needs regulation, but it should not “front-run” innovation, says Menon; regulation should “kick in” only when fintech risk “crosses a certain threshold”
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology