Macro-prudential policy
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Riksbank’s new stability chief resigns after less than a week
Henrik Braconier says he regrets stepping down from his former role with Finansinspektionen
DNB to introduce climate-related risks in its supervision
Transition to a carbon-neutral economy will also create financial stresses, Dutch central bank says
EMs should work to avoid ‘macro-prudential war’ – BIS article
Use of macro-prudential policies should be co-ordinated internationally for maximum effect, say Luiz Pereira da Silva and Michael Chui
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
Perng Fai-nan on how Taiwan has eluded crisis for 20 years
Taiwan’s governor explains how pragmatic interventions have engendered two decades of financial stability, despite the island’s status as a small, open economy
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
Low wage rises may hamper inflation in Sweden – IMF
Higher housing prices and private debt call for stricter amortisation requirements
Five-year extension for Riksbank governor Ingves
Swedish governor receives additional term as opposition allegedly blocks appointment of Karolina Ekholm; first deputy also receives renewed term
Debelle calls for more thought on financial stability independence
RBA deputy says financial stability needs its own intellectual framework; panellists warn independence likely to face tougher challenges ahead
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Portuguese governor clashes with government
Treasury intends to transfer banking resolution competencies out of the central bank
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
Don Kohn extols virtues of co-operation across policy domains
Good communication between policymakers in different spheres and complementary policy action can bring significant benefits, FPC member says
Portuguese government welcomes proposal for new supervisory agency
New agency could take financial oversight and bank rescues away from the central bank
Rising debt threatens Swedish stability – deputy governor
Ohlsson welcomes higher growth, but says inflation must rise sustainably
Lower monthly quotas effective at preventing mortgage defaults
60% of US defaults during financial crisis caused by lack of ability to pay, paper finds
IMF report studies country responses to volatile capital flows
Set of case studies emphasises value of macro-prudential policy in resisting credit booms across emerging and advanced economies
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable
People: Fijian interim governor appointed permanently, Azerbaijan deputy leaves
Fiji’s Ariff Ali appointed on permanent basis; Azerbaijan deputy steps down; Bank of England retains PRC members; and more
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
Argentina attempts to speed up financial transactions
The central bank will allow the public to directly submit their tax returns to banks, as part of a series of measures designed to boost credit
Riksbank: housing market is a ‘serious threat’ to stability
Swedish central bank welcomes amortisation proposals, but says further measures may be needed