Regulation
People: UK’s FCA makes three new appointments
FCA reshuffles board; senior Bank of Spain official joins Single Resolution Board
Authorities in Bahamas and Colombia sign supervision agreement
Bahamas central bank and Colombian regulator will share information on financial firms
Interview: Luiz Awazu Pereira da Silva
BIS deputy general manager talks about the obstacles central banks face with regard to climate change and why the status quo needs to evolve
BIS paper investigates distributive impact of fintech
Big data likely to reduce “negative prejudice” but could undermine regulation, says Thomas Philippon
Stress test capital buffer ‘on track’ for 2020 testing – Powell
Plans were floated nearly 22 months ago, but Fed yet to offer final rule
Global governance is getting harder, warns BoE’s Cunliffe
Fading memories of crisis, new players and Brexit all create challenges, deputy says
Basel III implementation creating fragmentation, warns FSI paper
Authors say some variation is good, but more could be done to cut fragmentation
Fed’s Quarles warns big balance sheet could harm credibility
Fed official proposes tweaks to discount window and G-Sib surcharges to improve monetary framework
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