Regulation
G30 calls for major US Treasury market reform
Rise of non-banks and side-effects of regulation are triggering bouts of “dysfunction”, report warns
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
Sanctioned disobedience: the challenge of protecting whistleblowers
Most central banks have policies on whistleblowing, but practice and usage vary widely
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
US regulators to align policies on lower income lending
OCC backs down on separate CRA rules and starts joint consultation with Fed, FDIC
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on AML, rather than blame flawed regulatory and institutional design in dealing with corrupt money flows
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Kenyan governor asks for powers over digital lenders
Unregulated lenders are helping create ‘ballooning household debt’, Njoroge says
RBI fines banks for violations in non-bank lending
Central bank alleges “deficiencies in regulatory compliance” but gives few details
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients for a chief fintech officer
US comptroller takes direct charge of agency’s bank supervision
US agency eliminates chief operating officer role as part of internal reorganisation
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
Suptech strategy: the seven missing links
RBI’s Manoj Kumar Singh sets out the actions central banks need to take to build an effective suptech strategy
Mexico reminds banks crypto transactions are illegal
After El Salvador bitcoin law, authorities state virtual assets ‘not legal tender in Mexico’
Ukrainian central bank officials resign in protest
NBU’s decision-making process and standards are under threat, official says
FSB proposes menu of policies to tackle money market fund risks
Proposal aims for tailored approach to boosting resilience of key funding markets
ECB takes over supervision of largest EU investment firms
Firms posing systemic risk should not try to circumvent new regime by changing structure, ECB says
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
Rising spillover risks from macro-prudential policies
Tools used to restrict credit in specific sectors can increase the riskiness of credit in other areas, creating challenges in the use of household-specific and corporate credit-calming measures, write Lucyna Górnicka and Apoorv Bhargava
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
People: Sam Woods reappointed; Fernanda Nechio returns to SF Fed
BoE deputy gets fresh term; Nechio to lead regional Fed’s sustainability research; and more