Banks
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
ECB testing banks’ ability to deal with a second wave of Covid-19 – Enria
ECB head of supervision stresses banks are reluctant to use buffers because of market reaction
Doyne Farmer’s next big adventure: capturing the universe
Complexity theorist plans to build an economic super-simulator on a global scale
Bank of Uganda cuts rate and warns of lasting disruption
Central bank cuts rates and narrows target band, as impact of Covid-19 in Uganda continues to play out
Sri Lankan governor says system is sound despite lender failing
Central bank governor also says there is no chance of sovereign default as budget is suspended
Covid-19 forcing reserve managers to rethink asset allocations
Adjusting asset allocations and dealing with reduced market liquidity are key challenges for reserve managers, survey reveals
Former officials say Fed should impose tighter regime
Donald Kohn and Jeremy Stein warn of risks and say Fed should stop US banks paying dividends
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how the BoE tackled the Covid-19 crisis in the markets
Trinidad and Tobago demonetisation hit illegal activities, central bank says
Financial Intelligence Unit recorded 900 reports of suspicious transactions in three-month window
At least 50 Bangladesh Bank officials test positive for Covid-19
Employee council asks governor to consider changing working arrangements to rotate staff
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
BoE urges banks to ramp up no-deal Brexit preparations
Brexit risks are resurfacing as trade talks remain deadlocked
Georgian central bank launches liquidity support for SMEs
New programme will supply liquidity to commercial banks in exchange for loan collateral