Capital
Fed leadership divided on proposed capital rules
Powell warns rules could push activity into shadow banking
European banks pass stress test’s 2023 adverse scenario
Tested banks had higher CET1 levels after adverse scenario than in 2021, EBA says
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
Basel Committee overhauls supervision guidance
Key updates cover supervision of risks related to interest rate, operations and climate
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
MAS posts record $22.8 billion loss
Managing director Ravi Menon says loss is not a cause for concern
BoE proposes ‘Solvency UK’ insurance reforms
Government overruled central bank on tightening a key element of the rules
Fed’s Bowman questions Barr’s bank failures report
Governor says supervision is preferable to higher capital requirements
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Bank failure déjà vu
New bank capital rules were meant to ensure failures would be less frequent and resolution not involve taxpayer money. Then came the collapse of Silicon Valley Bank and Credit Suisse, writes Jesper Berg
Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
Central banking against a full-scale war
National Bank of Ukraine governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and the ability to function under uncertainty – and succeed
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Supervisors should take action on interest rate risk – BIS paper
Core regulation alone will not neutralise all current risks, Financial Stability Institute says
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
UK credit stress is rising, BoE official warns
David Bailey says financial firms “need to take action now” to prepare for higher defaults