Bail-in
Slovene governor: draft law would harm bank’s independence
Government’s action is the latest move in its dispute over bank bail-ins
BoE asks banks to allocate $154 billion to new MREL requirements
UK central bank introduces new internal capital requirement for large banks with subsidiaries; banks have net shortfall of £4 billion to meet by 2022
Bank resolution regime rolls out in Hong Kong
HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure; authority also plans to conduct a public consultation on loss absorbency
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
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
Kashkari rejects Dimon’s claims on too big to fail
Minneapolis Fed chief rebuts assertion by JP Morgan CEO that US banks are no longer too big to fail; says capital is too low, not too high
CEPR report ‘cautiously optimistic’ on bail-in
Thomas Philippon and Aude Salord find range of issues with European bail-in rules, but say they can probably be fixed; Cyprus bail-in “terribly” executed but still worked
New deposits backed by central bank money could solve public mistrust
New deposits backed by central bank reserves could address public fears about bank safety following the use of bail-in tools in the resolution of regional banks, argues Alessandro Roselli
Rohde criticises Italy's calls for BRRD special treatment
Danish governor believes the forceful implementation of Europe’s new bank resolution rules represents a “game-changer”; laments Basel’s shift from risk-based regulation
Ignazio Visco on Italian banks and why the ECB should not be made a ‘scapegoat’ for EMU fatigue
The Bank of Italy governor speaks to Chris Jeffery about resolving Italy’s NPLs, Europe’s bail-in framework, the importance of QE and why the ECB needs to stop being made a ‘scapegoat’ for EMU fatigue
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
Slovenian bail-in was legal, ECJ rules
Decision to wipe out some subordinated debt before recapitalising Slovenian banks in 2013 was challenged, but court finds it is compatible with EU law
Now banks face bail-in, should we rethink deposit insurance?
David Mayes argues deposit insurance schemes forged during crisis may impose unnecessary costs in more normal times
Hong Kong authorities look to bring shadow banks into resolution regime
Plans for resolution regime are advancing, with legislation expected by the end of the year; unregulated financial institutions can still be covered by the regime
Denmark’s Rohde concerned by lack of bail-in tool at mortgage banks
European standard for loss-absorbing capital does not apply to Danish mortgage banks, meaning resolution frameworks have to make do without bail-in
South African deputy looks to fill gaps in resolution setup
Francois Groepe highlights main elements of proposals for a new resolution framework in South Africa; particular emphasis on creating a deposit guarantee scheme
IMF warns on sanctions impact as Russia cuts rates
Article IV report highlights problem of high inflation and low growth, coupled with financial instability resulting from sanctions, and calls for rate cuts to continue at a 'prudent pace'
BoE exec calls for enough GLAC to restore capital level above minimum
Banks that have undergone resolution ‘likely to need at least as much capital as other banks in the market' to command market confidence
Basel III requirements could clash with new bail-in rules, warns IMF
Increased pressure on banks to rely more heavily on collateralised debt could combine with ‘depositor preference' rules to raise funding costs at a time when credit conditions remain tight
ECB’s Cœuré warns impact of bail-ins still unclear
Executive board member says effects on bank funding and lending depend on final design of bail-in regime and interaction with other regulation
IMF greenlights new wave of funds for ‘resolute' Cyprus
New IMF report says most conditions have been met with a ‘comfortable margin' but warns that the banking crisis' impact on households and corporates could be larger than anticipated
FSB issues guidance on resolution of ‘too big to fail' lenders
Recommendations include the availability of sufficient loss-absorbing capacity and enforcement of ‘bail-in' rules
BoE's Tucker sets out priorities for orderly cross-border resolutions
Paul Tucker examines the many issues facing authorities seeking to wind down failed banks without taxpayer support, including cross-border co-operation and choice of single or multiple entry points
Europe's finance ministers inch closer to bail-in framework
Meeting of finance ministers, the ECB and the European Commission highlights differences between member states but strikes a hopeful note for agreement