Banks
Belgian bank survey reports gloomier outlook
National Bank of Belgium survey finds improved financial market conditions are not feeding into the real economy, as respondents again revise down 2013 growth forecasts
PMA gains new authority over payments systems
Decree law gives Palestine Monetary Authority green light to promote ‘modern e-banking services’; Jihad Alwazir says new systems will increase efficiency while reducing risks
IMF fears Ireland could still lose access to markets
Eighth review of extended fund facility says Ireland’s newly regained market access is ‘fragile’ and could be lost if European commitments to ESM funding and OMTs are not followed through
Fed’s Stein highlights transatlantic risks
Jeremy Stein discusses situations that may lead to a spike in dollar funding costs for European banks operating in the US; says renewed swap lines and new regulation will help
BBA delays phase-out of some Libor rates after complaints
Less-used rates will be produced until May 2013
HKMA’s Yue on consumer education and protection
Market players, regulator and consumers all have roles to play to ensure that trust remains in financial services, says Hong Kong deputy chief executive
Banque de France paper tests policy interactions
Researchers examine optimal configurations of monetary and macro-prudential policy under different conditions; find monetary policy cannot affect financial stability in some cases
Ghana annual report details payments upgrades
Bank of Ghana notes projects implemented in 2011 to improve financial market infrastructure
Book notes: The Great Recession: Market Failure or Policy Failure?
This is a hugely important book that should be read by all central bankers, bank supervisors, politicians and newspaper editors
Sri Lankan governor issues 21-point plan for bankers
Ajith Nivard Cabraal gives guidance on how banking operations should be monitored and upgraded throughout 2013
Paper finds flimsy productivity base for banks in Spain
A Bank of Spain working paper says two-thirds of pre-crisis banking productivity growth was attributable to the expansion of mortgage lending, a reliance on short-term finance and leverage
Central Bank of Ireland to toughen penalties for financial crime
Irish central bank looks to harden sanctions for financial crime, including doubling maximum fines and the possibility of criminal prosecution for top managers
BoE and FDIC co-operate on bail-in plans
US deposit insurer and UK central bank release plans for resolution of global systemically important banks, focusing on a ‘top-down’ approach to maintain viability long enough for restructuring
BoJ paper finds noisy reference rate can create volatility
Working paper studies effect of reference rates on stabilising or destabilising interbank markets; finds noise in rates reported by large banks can feed volatility and impair monetary policy
Bank of Mauritius chief calls for curb on ‘fishy’ banks
Rundheersing Bheenick says new guidelines on corporate governance and separation of international and domestic banking will help prevent ‘global infection’
FSA outlines plans for Libor reform
Regulator will directly oversee calculation of benchmark rate; could also compel banks to submit Libor fixings
HKMA will honour Basel III deadline, says executive director
Karen Kemp says Hong Kong’s banks will not be put at a competitive disadvantage by implementing new capital standards before US and EU
UK’s Wheatley outlines behavioural foundations of FCA approach
CEO-designate of UK’s Financial Conduct Authority says regulator’s new approach will centre on behavioural economics rather than treating consumers as fully rational
BoJ’s Nishimura sees potential for $180 billion funding for lending
Under Bank of Japan’s ‘stimulating bank lending facility’, banks could receive up to 15 trillion yen ($180 billion) in low-cost funding, says deputy governor
Stress test transparency can ‘persuade’ investors, says Bundesbank paper
Deutsche Bundesbank study says the disclosure of stress testing results and methodology can be designed to alter investor behaviour
MAS chairman says Islamic finance can exploit post-crisis landscape
Tharman Shanmugaratnam suggests weakness and deleveraging in conventional banking systems gives Islamic finance an opportunity to expand
Euro periphery financial systems still ‘fragile’, reports show
Irish and Portuguese financial stability reports show financial systems have grown stronger in past year, but weaknesses persist
Fed’s Tarullo outlines update to regulation of foreign banks
Rules for foreign banks operating in the US need to be strengthened, but should not be so harsh as to give domestic banks a competitive advantage, says Daniel Tarullo
Bank of Thailand: LCR horizon should be a maximum of seven days
Experience of the Asian financial crisis leads Bank of Thailand's deputy governor to question the LCR parameters