Banks
BIS warns of further shockwaves in ‘generation-defining’ crisis
Solvency crisis is looming on the horizon and health crisis is far from over, BIS officials say, as they present the 2020 annual report
Podcast: Georgia’s data-driven response to Covid-19
Covid-19 has provided the NBG a chance to test out its new data capabilities
FSB flags ‘gaps’ in too-big-to-fail reforms
Report highlights evidence reforms are working, but resolution remains imperfect and data limited
Covid-19 has highlighted payments systems problems – BIS report
Pandemic may have strengthened case for central bank digital currency, report says
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding, write Wenhao Li, Yiming Ma and Yang Zhao
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
ECB warns Slovenia over new loan law
Yves Mersch says ECB should have been consulted over law and warns of financial stability effects
NGFS offers concrete next steps to assess climate vulnerabilities
New climate risk scenarios will be incorporated into Bank of England stress tests and Bundesbank economic modelling, write Sarah Breeden and Sabine Mauderer
Bafin says it did not supervise scandal-hit Wirecard
Official tells Central Banking he is “not aware” of any agency supervising firm implicated in fraud
BoE admits bond holdings are contributing to climate change
UK central bank’s bond portfolio is out of step with international climate goals but differences in calculations makes it challenging to quantify
Bank of Thailand to build trial CBDC payment network
Project will see cement company using blockchain network to process suppliers’ payments
RBI to push for bank governance overhaul
“Growing size and complexity” of the banking sector demands stronger governance, paper says
Should the BoE go negative?
Much research into negative rates suggests central banks should have little to fear, but there are plenty of caveats
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
Reserve managers ‘unprepared’ for home trading
Covid-19 presented reserve managers with unprecedented business continuity challenges at a time of acute market and economic distress
Sarb introduces collateral substitution for repos
New framework designed to give banks more flexibility in managing collateral
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
Solomon Islands central bank cuts reserve requirements
Reducing requirements will ensure ample liquidity is provided to banking sector, central bank says
Mauritian central bank to use $2 billion of reserves to fund firms
Central bank will also issue debt instruments to give government $1.5 billion in new funding
BoE’s Cunliffe: central banks must consider market liquidity backstop
Markets weathered the first phase of the Covid-19 crisis, but not without support, deputy notes
Appetite for renewed Fed dollar swap lines in doubt
With up to $300bn of positions nearing expiry, some say FX swap market can meet banks’ funding needs