Capital
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
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
Book notes: The big con, by Mariana Mazzucato and Rosie Collington
The authors highlight that the excessive pursuit of efficiency results in ineffective government agencies
JP Morgan buys First Republic in weekend rescue deal
US suffered “a bit of complacency” on banking regulation, says IMF chief
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Governance Benchmarks 2023 report – the frameworks that underpin central banks
Data reveals differences in profits, appointments and policies among EMEs and advanced economies
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed