Conduct
Regulators fine Goldman $2.9 billion over 1MDB
DoJ says bribes were largest it had discovered, as UK regulators fine US bank $126 million
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
FCA increases guidance to big tech around consumer protection
UK regulator mulling whether it needs new powers to ensure firms like Google do not exploit customers
UK regulators extend complaints review after pressure from lawmakers
Outgoing complaints commissioner says proposed changes raise “significant policy issues”
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
Experiment finds bonus caps can reduce risk-taking
BoE paper says bonus caps can work, in contrast to earlier work by the central bank and comments by senior officials
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
Computing platforms for big data and AI
Implementing big-data and high-performance computing platforms is critical to support machine learning applications. Rafael Schmidt and Bruno Tissot offer insights on developing a comprehensive information strategy
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Andrew Bailey approved as Bank of England governor
Treasury Committee “satisfied” after grilling the outgoing FCA chief
Andrew Bailey defends record in parliamentary grilling
Prospective BoE governor says he faced a “huge task” in “rebuilding” the FCA, though he admits he is “not proud” of some things that happened during his tenure
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Fines given by UK FCA ballooned in 2019
UK regulator dishes out fines for AML breaches, mis-selling and poor treatment of consumers, but watchdog also falls short on own pension responsibilities
Book notes: The long journey of central bank communication, by Otmar Issing
This book is a “masterly exposition on central bank communication, its evolution and continuing challenges”, writes Anand Sinha
BoE probes press conference audio feed leak
FCA investigates alleged leak of backup feed to third parties before main broadcast
Leveraged lending creates challenges in UK stress tests
On some assumptions, banks would fail the tests; BoE to alter capital framework
CBDC has been “over-hyped” – former RBI deputy
Focus on retail CBDCs is a potential distraction from core central banking functions, says Sinha
New Zealand’s life insurers failing to improve conduct risk management – Orr
RBNZ “underwhelmed” by response from life insurers to conduct recommendations