Supervision
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
UK committee calls for reform at FCA over ‘mini-bond’ scandal
Treasury Committee says it does not believe Andrew Bailey misled it over his role in the matter
MAS’s Vincent Loy and Celine Sia on transforming data management
The assistant managing directors explain how uniting business and technology functions is opening up new possibilities for data collection, governance and analytics
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
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The winners of the 2021 FinTech RegTech Global Awards
Fourth annual tech awards recognise excellence among central banks and the firms they work with
Policy-makers debate central banks’ role in tackling climate change
Some see central banks as important co-ordinators; others warn they could overreach
US court throws out suit against fintech charters
Judges dismiss challenge to Comptroller of the Currency on procedural grounds
Governance Benchmarks 2021 report – the frameworks that rule central banks
How are central banks governed? Benchmarking data offers insights on appointments, legal structures, powers, decision-making bodies, independence and more
IMF warns Marshall Islands on digital projects
Local plans for digital currency and economic zone trigger concern at fund
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
Leverage ratios fall for most US bank categories
Kansas City Fed report finds G-Sibs increased capital buffers, mainly due to SLR exemption
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
Brainard questions Fed approval of bank merger
Fed approves PNC purchase of BBVA USA, while Brainard warns of “weakened” safeguards
Four in 10 central banks have legal right to be consulted on mandate changes
Most have legal restrictions on their ability to use monetary financing to fund the government
RBNZ gains new FMI oversight powers
Central bank and FMA will be able to set standards for systemically important infrastructures
Bangladesh Bank intervenes over commercial lender
Central bank prohibits new loans and oversees appointments, saying it has found "irregularities"
Nigerian central bank sacks board of third-largest lender
Central bank governor Emefiele says senior managers made large non-performing “insider loans”
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
People: UK’s FCA appoints head of ESG
Burundian senior officials switch roles and senior Vietnamese supervisor is promoted
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy managing director speaks about the fund’s perspectives on CBDC operating frameworks, regulating big tech and macrofinancial oversight in a digital world
Fintech & IT Benchmarks 2021 report – executive summary
Shedding light on fintech initiatives, staffing, salaries, cyber security and more
Book notes: The political economy of bank regulation in developing countries, edited by Emily Jones
A pioneering academic – but reader-friendly – monograph on the response of peripheral countries to Basel standards
Regulating big tech and non-bank financial services in the digital era
Big tech incursions into financial services in China and elsewhere demonstrate the potential benefits of adopting a digital-bank or holding-company approach to financial regulation