Supervision
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Basel Committee launches principles for climate supervision
Basel framework can accommodate climate risks, but supervisors need guidance, committee says
Bank Negara Malaysia set to implement consumer credit law
“Long-awaited” law will regulate consumer lending in Malaysia, including “buy now, pay later”
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
BIS paper flags ‘notable gaps’ in CBDC research
Policy work on cross-border CBDCs is “marching beyond the research frontier”, say economists
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
Data protection ‘high on the agenda’, says PBoC governor
The central bank has forced major fintech firms to hand over their customer data
Approaching green central bank balance sheets
Climate-friendly balance sheets come at a ‘greenium’, panellists argue at a roundtable at Central Banking’s Summer Meetings, in collaboration with Invesco.
Fed board member says US community banks under threat
Michelle Bowman says smaller community institutions play vital role for ethnic minorities
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
MAS consults on ‘Cosmic’ risk info-sharing platform
Digital platform for AML/CFT information sharing could be launched as soon as 2023
UK government mulls giving BoE new payment supervision powers
BoE would oversee firms within the broader ‘payment chain’
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
Cœuré warns ‘analogue’ supervisors must adapt to digital world
BIS official says growth of fintech demands supervisors respond with technology of their own
SSM reduced large eurozone banks’ risk-taking – ECB paper
Reduced credit risk was driven by supranational authority’s greater efficiency, authors argue
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
Biden nominates law professor for OCC
Saule Omarova favours more regulation and suggested the Fed take over deposits, alarming banks
UK’s PRA ‘re-tooling’ for post-Brexit world – Woods
Chief executive says reform efforts complicated by hasty “on-shoring” of EU rules
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
Regional Feds make string of appointments
Atlanta, Cleveland and Dallas Feds name officials, while St Louis appoints outside advisers