Regulation
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
US regulators propose third Volcker rule revision
Banks could soon regain permission to invest in speculative funds, but one official dissents
Custody initiative: Euroclear
The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
Central bank of the year: Bank of Ghana
The African central bank has carried out extensive reform of Ghana’s banking sector
US Democrats strongly criticise regulator
Some lawmakers accuse OCC head Otting of ignoring Congress over controversial lending proposals
Fines given by UK FCA ballooned in 2019
UK regulator dishes out fines for AML breaches, mis-selling and poor treatment of consumers, but watchdog also falls short on own pension responsibilities
South Africa’s financial regulators urged to adopt tiered licensing regime
New regime would help lower the barriers for fintechs, working group says
European parliament committee votes against Gerry Cross for EBA post
Committee members expressed concern over nominee’s previous work for lobbying organisation
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Brainard lending proposal gets boost in Congressional hearing
Participants applaud Fed proposal, while strongly criticising plan by OCC’s Otting
FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
Fed’s Brainard criticises other US regulators over lending proposals
Fed governor warns proposed reforms from FDIC and OCC could harm poorer areas
EU central bankers urge UK to stay close on regulation
Klaas Knot and Luis de Guindos warn UK could lose out if it diverges from EU regulations, but Mark Carney says UK needs autonomy
BoE prepares for regulatory data shake-up
Central bank keeping open mind on future of regulatory data collection; FCA plans to expand “advanced analytics” and automation
Central Bank of Iceland completes merger with regulator
Governor Ásgeir Jónsson to retain overall responsibility; two new deputy positions created
Hong Kong supervisory framework needs further strengthening – IMF
Growth outlook has deteriorated but banking sector well positioned, says fund
Andrew Bailey to be next BoE governor
FCA chief will return to central bank after turbulent term at sister regulator
India’s approach to national biometric ID applicable to ‘all economies’
BIS paper examines how India created digital financial infrastructure as a public good
Leveraged lending creates challenges in UK stress tests
On some assumptions, banks would fail the tests; BoE to alter capital framework
‘Consolidated’ Basel framework finalised
New version is somewhat simpler and easier to navigate, Basel Committee says
Fed’s supervision may have added to repo turmoil, Quarles says
Republican lawmaker concerned for financial stability if “bad regulation” is driving monetary policy
IMF chief calls for climate-related stress tests
Fund will work more closely with central banks to tackle climate risks, Kristalina Georgieva says