Banks
How to divest public sector assets
Exit programmes for public sector assets could create uncertainty through supply/demand imbalance, but a tap facility – a private sector triggered exit programme – could be the solution, writes Hon Cheung, chief investment strategist, official…
RBI makes first rate cut of 2017
Inflation is at a record low, and growth is forecast to rebound, although the RBI is still concerned about weak transmission of the policy rate
Serbia’s Tabaković deems NPL action plan a success
Proportion of NPLs has fallen by 6% since 2015, says governor
Banks not ‘boring’ before Glass-Steagall repeal, New York Fed economist says
There is little evidence of an explosion in non-traditional activity after Glass-Steagall was dropped, despite the conventional narrative, economist says
IMF explores ways to increase profitability of Italy’s banking sector
Italian banks have operated in a low-growth environment since early 1990s; eurozone interest rates at record lows since global financial crisis
Quarles defends past views amid Senate grilling
Trump’s pick for Fed regulation chief says hindsight is a wonderful thing, as he defends actions around crisis; Quarles says the Fed can improve regulatory transparency
Malawi stock exchange needs urgent revamp, governor stresses
Lack of interest in stock market could cause financial stability issues as pension and life insurance funds grow, says Kabambe
Paper proposes method to estimate network of exposures
Researcher draws on aggregate exposures and market data to build a more complete picture of the network of bank exposures
Addressing the eurozone’s ‘lemons’ problem for NPLs
State-supported securitisation of the riskiest tranches of eurozone bank NPLs could tackle information asymmetries between buyers and sellers, and restore market function
BoE’s Brazier warns lenders of ‘spiral of complacency’
UK lenders may be starting to let standards slip as memories of the crisis fade, Alex Brazier says
RBNZ pushes back on IMF financial assessment
Central bank says it stands by its “three-pillar” approach to market discipline, but will look at ways of enhancing co-operation and other aspects of the framework
Guinea Bissau still struggling with NPLs, says latest IMF assessment
Country still reeling from failed bailout that saw two banks default; fund stresses the need for prudential regulatory compliance and praises three-pronged approach
Non-banks drive rebound in cross-border banking – BIS
First-quarter statistics show non-banks helped drive a turnaround of cross-border banking flows, which had been in retreat
Verbs matter in forward guidance – Italian paper
Researchers look at verbs used in ECB statements from 2002 to 2015
Debate over Kenya’s growth potential continues – Njoroge
Private sector sees macroeconomic stability and infrastructure funding aiding growth in the long term, while banks are concerned about elections and a decrease in credit growth
Fed fines BNP Paribas over forex manipulation
French bank is to pay $246 million to settle an investigation of misconduct
BoE opens RTGS to non-bank payment service providers
Non-banks gain direct access to settlement accounts at the Bank of England for the first time, though they will not be able to participate in monetary operations
Uganda central bank sues Crane Bank director for over $100m
Bank of Uganda investigation finds troubled Crane Bank owned wholly by one person; third party to file action against the central bank for negligence in handling Crane saga
RBNZ’s Bascand says banks now less reliant on offshore funding
New Zealand banks are attempting to reduce risk and respond to regulatory changes by tightening lending standards and “aggressively” competing for deposits, says RBNZ deputy
Fed would remove Wells Fargo board if ‘appropriate’, says Yellen
Fed chair asked why stricter penalties had not been imposed after bank opened millions of fake accounts; senator Warren says current system has created “bullet proof” executives
BSP’s Espenilla: Philippine banking system is ‘very robust’
Central bank to use data-gathering portal to improve services and increase communication with the general public
Da Silva argues for ‘second-best solution’ to climate change
Financial sector must play a “pivotal” role in tackling climate change, but central banks should not be overstretched in the process, the BIS deputy general manager says
Trust key to interbank lending, study finds
'Social collateral' collapsed during 2008 crisis, finds Swiss National Bank paper
Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra; depositors will be able to access their money from July 24