Regulation
Senators introduce Fed ethics law
Democrats’ proposals would put board’s ethics rules on statutory footing and impose fines
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
Bank of Mexico creates environmental and social risk department
Central bank’s attitude to environmental risk might put it at odds with government, says commentator
Fed board member says US community banks under threat
Michelle Bowman says smaller community institutions play vital role for ethnic minorities
Fed announces strict new trading rules for senior officials
Regulations would ban individual investments, increase disclosure and restrict transactions
Fed ethics officials warned against trades
March 2020 advice cautioned against stock transactions in following months
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
Quarles term as Fed vice-chair ends without replacement
Fed supervision committee will continue without a chair, acting on consensus basis
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
China’s financial market at risk of ‘distress’, RBA report warns
Authorities may have to choose between market discipline and intervention to save Evergrande
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery
Greater competition cut US banks’ ‘insider lending’ – BdF paper
Researchers quantify bank owners’ and executives’ loans to themselves and their interests
Fed asks watchdog to review controversial trading
Move follows resignation of Boston and Dallas heads, as Warren asks for SEC probe
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
Dallas Fed president resigns, following Boston’s Rosengren
Both faced criticism for equities trading and holdings, but are not unique among Fed leaders
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
RBI steps up work on climate change
Sustainable Finance Group will “spearhead” climate-related supervision and regulation
PBoC tells payment firms to cut ties to other business lines
Governor’s speech follows reported crackdown on China’s Ant Group
Vietnamese government tells central bank to draft fintech rules
Move follows central bank warnings of dangers posed by unregulated fintech sector
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown