Banks
EU regulators warn on no-deal Brexit impact
Firms must make contingency plans, regulators say, as Brexit deadlock continues
India’s Supreme Court deals major blow to RBI bank clean-up
Court strikes down tough RBI ruling on stressed assets, ending requirement for swift action in cases of default
Housing debt increases on the back of reforms – Israel annual report
Bank of Israel documents changes in the mix of credit as reforms look to increase competition in the credit market
Major EU banks would withstand economic storm – ECB research
ECB test says in profound crisis below 10% of banks would struggle to meet capital requirements
Kenyan High Court strikes down law capping interest rates
But court rules law did not infringe central bank’s mandate and says caps could be brought back
BoE to improve supervision in light of bank’s near-collapse
Report on the Co-op Bank’s near-failure warns ‘open banking’ could throw up new systemic risks
US bank holding companies have become less complex – NY Fed paper
Researcher examines organisational, business and geographical complexity in decade after 2007
Philippines launches inclusion initiative in memory of Espenilla
Late governor honoured in new initiative to help those underserved by financial industry
HKMA grants first three virtual banking licences
Move is “major milestone” for Hong Kong’s efforts to compete as financial centre
RBI swap operation heavily oversubscribed
Unusual move to inject long-term liquidity into the system draws strong demand from the market
Fintech experts recruited for New York Fed advisory group
New group will provide gateway for Fed to interact with tech industry leaders
CBDC may see central banks adopt retail lending role – BIS’s Carstens
Two-tier banking system could be turned on its head by CBDC, but BIS will “flash warning light” if central banks fail to appropriately consider stability, Carstens says
Carney says supervisors must develop climate stress-testing
BoE is working with the NGFS to develop climate change scenarios as step toward stress-testing
Book notes: Floored!, by George Selgin
Michael Reddell remains unconvinced the Fed’s introduction of the IOR prolonged the recession, but credits Selgin’s argument the IOR policy made the central bank a more powerful credit lender
UK and EU agree template for no-deal Brexit supervision
Template sets out basis for supervision rules under no-deal Brexit, with deadline little more than a week away
Bank capital ratios fall for first time since 2011
Basel monitoring report finds declines in both risk-weighted capital and leverage ratios
‘Clock ticking’ for Australian institutions exposed to Libor – RBA’s Kent
Deputy governor warns current fallback measures may not be enough to mitigate transition disruption
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
PBoC to develop new fintech regulation
Central bank will implement new roadmap in 2019, which will see improved regulatory mechanism
Regulators might not allow cash to circulate were it invented today – panellists
Anonymity of cash poses risks for the financial system, some central bankers say
Book notes: Finance and philosophy, by Alex J Pollock
A readable and useful book that provides much food for thought, and should be read widely by economists and policy-makers
Supervisory compliance weaker on 55% of Basel III principles – IMF
FSAP reports uncover potentially worrying trend on financial supervision since mid-2013
Basel Committee clarifies ‘expectations’ on crypto
Banks must meet certain minimum standards if they want to trade crypto assets; more details on prudential expectations to follow
NY Fed activates motion to dismiss TNB’s lawsuit
“The relief TNB seeks is wholly incompatible with the public interest” – New York Fed