Central Banking
ECB and BoJ point to major problem in DLT-based payments
Latest “Project Stella” report says central source of information could create single point of failure
BoE paper highlights non-linearities in bank funding and solvency
Results could be important consideration in stress-test design, authors say
BIS’s Pereira says green QE could distort market
Central banks should focus on financial stability mandate not green QE, says deputy general manager
Wider use of LEIs will improve stability, says DNB president
LEI system should be improved and made compulsory for more types of financial data – Klaas Knot
Some countries lack systemic banking crisis resilience – IMF report
IMF staff sketch out priorities for countries’ resolution-planning frameworks
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
BIS paper investigates distributive impact of fintech
Big data likely to reduce “negative prejudice” but could undermine regulation, says Thomas Philippon
Stress test capital buffer ‘on track’ for 2020 testing – Powell
Plans were floated nearly 22 months ago, but Fed yet to offer final rule
MAS to allow financial data transfer to US
Data-sharing agreement could see personal data shared across borders, as data localisation inhibits supervisory processes
‘Intangibles’ may be adding to long-run rate decline – BoE’s Haskel
Economist says “tyranny of collateral” could be a problem for modern economies
Yield curve models overstate chances of US recession – ECB research
Models need to account for effects of QE asset purchases on bond premia, authors say
Fed forecasters now less optimistic on growth – San Fran Fed paper
Forecasters have eliminated “overoptimism” bias in recent years, researchers find
How might Shelton and Waller reshape the Fed?
The Fed board nominees face Senate hearings later this week
IMF-MAS research says cyber risks can be modelled with limited data
Public data can be used to create unique formulae to model hypothetical cyber attacks
RBA and Bank of Korea expand local currency swap agreement
The initial deal was signed in 2014 and has been renewed every three years
RBI tries to break firm’s dominance in retail payments
NPCI was launched with backing from the central bank, but may have gained too much market power
Global governance is getting harder, warns BoE’s Cunliffe
Fading memories of crisis, new players and Brexit all create challenges, deputy says
DNB to tighten macro-pru over real estate fears
EBA says Dutch central bank fears overheating after house prices in large cities exceed previous peak
Sudanese government fires central bank board
Recently-appointed governor remains in post as new regime confronts economic crisis
RBNZ updates external whistleblower policy
Central bank will not deal with personal workplace issues and is encouraging the use of internal processes where possible
Basel III implementation creating fragmentation, warns FSI paper
Authors say some variation is good, but more could be done to cut fragmentation
UK financial market has never been ‘cleaner’, says FCA official
New business strategy has helped regulator monitor insider trading; additional metric helps analyse data from transactions previously out of reach
Fed to stress-test banks’ leveraged loan exposures
Test features leveraged loan shock; scenario includes biggest-ever rise in unemployment
BoE paper finds heterogeneous policy transmission to firms
Authors say financial frictions “crucial” to understanding monetary policy transmission