Regulation
Lael Brainard may take White House post
Biden could ask Federal Reserve vice-chair to lead economic council, reports say
Financial risks report published across 75% of jurisdictions
Frequency of publications and levels of transparency vary across jurisdictions
Centralised departments more likely to face new responsibilities
Respondents reported changes in risk approaches to the environment, and banking and insurance supervision
Risk management staff earn many multiples of per capita income
Risk managers paid more in richest jurisdictions but poorer countries still pay competitive wages
South Sudan central bank orders pricing in pounds
Governor orders end to use of pricing in foreign currencies in private and public sectors
A suptech transformation: using tech to support the full supervisory lifecycle
Regnology explores how – with the appropriate platforms, partners and processes in place – supervisory technology can be utilised as a driver of transformation.
Use of defined project risk and delegated risk metrics declines
Around three-quarters of central banks have distinct institutional risk appetite
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
ISO 31000 remains top framework for risk managers
Majority of banks blend international frameworks with domestic solutions
Some US banks “too big to manage”, OCC head warns
Acting comptroller Michael Hsu says agency may clarify regulation to improve governance
Most central banks still not using GRC systems
AE respondents more likely to favour integrated system versus EME counterparties, in a reverse to 2022
Nepal central bank prohibits overseas investments
Move follows import restrictions in 2022
Most central banks track key risk indicators
Few banks consider improving current scope of KRIs, others to unveil soon
Fewer than half of central banks have a CRO
Risk management committees more popular, present in more than four-fifths of jurisdictions
Most central banks completed risk management review in 2022
Overall, 63% of institutions carried out internal audit and management reviews, 48% a external review
Ban, contain, regulate: BIS weighs crypto policies
Central banks can do more to address inefficiencies in the monetary system, authors say
Cyber security topples reputational risk as first concern
Overall, close to 39% of institutions place cyber as their top concern, 20% select reputational factors
Zambian central bank needs more safeguards, IMF says
Fund says central bank’s independence is still under threat despite reforms
Bank of Thailand to open virtual banking applications
Virtual banks should open in 2025 and come under same regulatory regime as existing lenders
Market and personnel become key rising risks for central banks
Over 47% of institutions highlight one of these two factors as the fastest-growing risk
Cyber security remains most pressing risk for central banks
For second consecutive year it is singled out as the risk rising the most
Central banks report scant progress on climate risk capabilities
Just 9% of participants have a climate change risk unit, up from 7% last year
France must mandate regulation of crypto assets, governor says
Government should not wait for EU to pass regulatory measure, Villeroy de Galhau argues
Crackdown on internet firms is ‘basically done’ – PBoC party chief
Guo Shuqing’s comment comes as Ant Group founder Jack Ma cedes control of company