Banks
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
PBoC eyes further opening of onshore repo for foreign investors
Chinese central bank gives first official signal it is looking at Swap Connect-style scheme for repo
Currency round-up: New yen banknotes to arrive in July 2024
De La Rue outlook brightens; Egypt continues transition to polymer; and more
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Largest US banks pass the Fed’s stress test
Scenario saw banks continue lending despite losses three times greater than those of 2008 crisis
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
MAS proposes raising deposit insurance cap
Singaporean central bank says the change will mean 91% of depositors are fully covered by scheme
Low rates have small effect on bank profitability – researchers
A 100bp rate cut results in 5bp fall in banks’ net interest margins on average, study shows
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Fed’s Bowman questions Barr’s bank failures report
Governor says supervision is preferable to higher capital requirements
Corridor systems most used to set monetary policy
Floor systems less popular overall but widely used with asset purchase programmes
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Switzerland and Norway raise rates
Norges Bank expects further increases while SNB does not rule them out
PBoC to use deposit insurance fund to repay Henan bank victims
Central bank will reportedly use around $1.4 billion to repay affected depositors
Barr to review bank oversight, promising nimbler supervision
Fed vice-chair suggests “reverse stress tests” to measure what would break banks
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”
BoE launches first ‘system-wide’ stress test
Analysis will assess how banks and non-banks interact to amplify shocks
Bank failure déjà vu
New bank capital rules were meant to ensure failures would be less frequent and resolution not involve taxpayer money. Then came the collapse of Silicon Valley Bank and Credit Suisse, writes Jesper Berg
Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
Central banking against a full-scale war
National Bank of Ukraine governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and the ability to function under uncertainty – and succeed