Bankruptcy
Governors Nabiullina, Tabaković and Bezhoska on systemic risk and women in power
Russia, Serbia and North Macedonia governors discuss bank reforms, corruption and the Covid-19 crisis
Judicial efficiency improves bank credit – Bank of Italy paper
Banks lend more freely and at lower rates in regions with swifter bankruptcy proceedings
New Fed discount window could ease bankruptcy crisis – researchers
Many companies may not endure a further liquidity shock
Mass bankruptcies should feature in Fed stress tests – former officials
Crowding of bankruptcy courts can effectively double loss given default, says Jeremy Stein
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Activist claims Bailey ‘not fit’ to govern BoE
High-profile activist criticises Bailey and FCA in new report, calling for investigation into his appointment
RBI to resolve first non-bank under revised bankruptcy code
Move could set precedent for wider financial sector clean-up as fallout from liquidity crunch continues
RBI stands firm on stressed assets as Supreme Court deliberates
Central bank says it has not softened stance, but court could force it to grant forbearance
RBNZ suggests eliminating minimum Tier 2 holding
New Zealand’s central bank proposes dramatically increasing Tier 1 to reduce resolution risk
Spanish ex-governor will not face charges over Bankia case
Former IMF managing director will face charges over collapse of Spanish commercial bank
RBI closes in on ‘endgame’ in bank clean-up
Governor Urjit Patel says the central bank’s new powers have allowed it to overcome “severe” moral hazard problems; state-owned banks will need recapitalisation, he says
Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra; depositors will be able to access their money from July 24
US authorities explain living will review process
Largest banking groups must hand in resolution plans by July 2; preliminary reviews will be completed within 60 days say FDIC and Fed
Bankruptcy does not exclude consumers from credit markets: Fed paper
Federal Reserve study finds evidence that bankruptcy filers are not excluded from unsecured credit markets but usually pay a higher premium for finance
CoCos will realign incentives of too-big-to-fail: SNB's Danthine
Swiss National Bank governing board member Jean-Pierre Danthine says measures requiring firms to hold contingent convertible capital will reduce moral hazard associated with too-big-to-fail
Buba paper on benefits of cocos
Bundesbank study says benefits of contingent capital may lead to its incorporation in firms’ financing mix without mandate
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
Plosser slams Senate proposals on Fed reforms
Philly Fed president Charles Plosser criticises recent Senate bill for politicising Fed appointments
Philly Fed: banking sector returns to profit
Report for fourth quarter notes bank failures also dropped
BoJ improves payments and settlements after crisis
Bank of Japan enhances its payments and settlements systems following Lehman collapse
Debt discharge no guarantee for a clean start
Debt discharges fail to generate a fresh start as intended by the law, new research from the Federal Reserve Board posits.
Blame technology for bankruptcies
Technological progress has a significant effect on the bankruptcy rate, a new paper from the Richmond Federal Reserve posits.
G20 group: more supervisory colleges needed
Regulators should collaborate to establish supervisory colleges for all major cross-border financial institutions, says a report from a working group prepared for the G20 London summit.