Banks
Bank of Lithuania lures fintech firms with e-licensing tool
Portal promises to streamline approval process as country seeks to become fintech hub
Miles warns too much weight placed on untried regulations
TLAC and the resolution regime may not be enough to substitute for higher capital, former Bank of England official says
Abandoning forward guidance has helped market communication – Poloz
Governor underscores the importance of language and says forward guidance can sometimes confuse markets
Low rates contribute to higher deposits in Denmark
Bank deposits amount to 60% and household deposits 45% of GDP
Banks stumble in second round of Fed stress tests
Fed demands Deutsche Bank take remedial action; two others told not to increase dividends
Crypto assets could threaten market integrity – PRA’s Woods
PRA chief executive issues guidance on risks related to crypto assets
BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale, or face an intervention from supervisors
RBNZ’s Bascand: too soon to decide on issuing digital currency
New technology could reduce payments efficiency and increase financial instability, deputy governor warns
Carney criticises EU stance on Brexit issues
Governor describes EBA analysis as “incomplete” and says time is running out for a deal on trillions of dollars in derivatives contracts
Swift aims to have all members using GPI system by late 2020
Corrected: Network wants to integrate all 10,000 banks into the cross-border payment system
PBoC cuts RRR amid growing instability
The move will release $108 billion amid concerns on the slowing economy and trade disputes
Richmond Fed economists design bank resolvability score
Score could help make complex living wills easier to interpret, authors argue
‘Living wills’ have reduced implicit subsidy – Fed paper
Higher cost of capital implies resolution measures have reduced ‘too big to fail’ subsidy, authors say
Argentina launches new measures to stem peso depreciation
Analysts concerned new central bank tools to control peso are not enough
UK lawmakers ‘satisfied’ with Visa response to outage
Visa has promised an independent inquiry into the incident that saw 5.2 million payments fail; firm reveals details of its recovery efforts
Central bank digital currency of no benefit to financial stability – RBNZ research
CBDC could make New Zealand’s banking sector more susceptible to spillovers
BIS calls for ‘redrawing of regulatory boundaries’ around crypto
Regulation will have to adapt to a “new reality”, BIS says, suggesting new ways the underlying technology could be applied to improve financial efficiency
Fed acts to limit largest banks’ mutual exposures
Largest banks in the US face limits on their exposures, but smaller banks are exempt for now
Bank of Thailand allows securities firms to provide forex trading services
Central bank says rule change will improve market flexibility
IMF report says Mauritius central bank needs clearer resolution powers
Current framework restricts regulator from acting in a timely manner – IMF staff
PRA official says financial system must become more cyber-resilient
Firms now view cyber as one of the biggest risks to their operations; regulators must outline what they expect from firms in terms of resilience
PBoC accepts lower-grade and green bonds as collateral
Central bank’s move may indicate a shift of emphasis in setting monetary policy
Sia given green light to access Eurosystem’s instant payment system
ECB permits first network provider to give access to new Tips platform
Bank of Canada to publish more ‘up-to-date’ analysis of stability risks – Wilkins
Central bank will reduce frequency of FSR, deputy governor says, but compensate with new online portal