Non-bank sector
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
Law change set to make Fed reveal holders of master accounts
Amendment grew out of dispute between Republican senators and Kansas City Fed
BIS paper finds ‘mixed’ evidence of non-banks triggering spillovers
“Extreme” capital flows have not worsened, but central banks are also more active, authors note
BIS analysis finds ‘huge’ debts hidden in FX derivatives
Economists say banks and non-banks have major exposures hidden off balance sheet
ECB warns array of risks threatens financial system
Luis de Guindos calls on governments to avoid fiscal policies running against tighter monetary policy
Non-banks in focus as G20 leaders meet in Bali
FSB calls for action on liquidity mismatches and “hidden leverage”
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
‘Shouting on the phone’: BoE officials shed light on gilt market intervention
Crisis sparked by UK government’s plans needed unprecedented action, officials tell parliament
BoE sticks to bond-buying deadline amid strains on UK non-banks
Bailey restates cut-off date for asset purchases despite spike in margin calls and redemptions
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
Corporate debt is a growing threat to financial stability
Policy-makers need to take action as tighter financial conditions risk tipping firms into distress, says Pedro Duarte Neves
Shadow banks need macro-pru regimes – Bundesbank paper
Limits on shadow banks’ leverage could have helped avert global financial crisis, researcher finds
Shadow banks: the biggest threat to US financial stability?
Non-bank risks may be the greatest problem facing the Fed’s incoming vice-chair for supervision
Fed paper examines non-bank emergency facility
More flexible investors tapped facility earlier, doing more to stabilise markets
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
Systemic stablecoins may not need ‘bank-style’ resolution – BoE
Non-bank stablecoins set for “tailored” regulatory regime under plans by UK policy-makers
Latin American dollar debts could cause systemic risk, paper says
Authors say the Fed risks a major policy mistake if it ignores the wider impact of tighter US policy
FSB finds banks grew faster than non-banks in 2020
Pandemic response contributed to stronger growth in bank and central bank assets, report says
RBI launches action plan to tackle weak non-banks
“Prompt corrective action” framework echoes rules in place for banks
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Emerging market central banks regulate more sectors
A higher proportion are the sole banking, non-bank and micro-finance sector regulators