Supervision
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Centralisation key to digitising central banks – ECB conference
Bank of Italy studies use of machine learning to boost supervisory capabilities
Is the RBI doomed to fail its ‘quest for financial stability’?
Covid-19 has set back progress on hard-won reforms. As the economy struggles to recover, the RBI and government must walk a treacherous path back to safety
ECB sets new climate risk requirements for banks
Survey of eurozone banks shows most do not disclose basic climate-related data, ECB says
Canada launches climate risk scenario pilot
Project will test volunteer institutions for their exposure to climate change risk
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
EBA wants Basel to revisit prudential rules on software
Banking regulator set to soften capital impact of IT assets, but proposals are still out of line with US
MAS encourages digital reporting through new grant
Firms can claim up to S$250,000 to implement new technology but only from pre-approved firms
MAS secures more financial crime convictions
Nine individuals convicted as a result of MAS investigations over 18-month period
Egyptian central bank fires head of largest commercial lender
Governor holds emergency meeting with lender’s board but nature of problems is unclear
Paper offers method for evaluating machine learning models
Bank of Spain paper looks at cost and benefits of ML models for predicting credit defaults
Regulators need common crypto asset standards – policy-makers
“Too many” crypto assets created to avoid regulation, official tells Central Banking summit
Bundesbank paper looks at consequences of weak supervision
Supervisors seen as less likely to intervene give banks incentive to stay undercapitalised - researchers
Regulators fine Goldman $2.9 billion over 1MDB
DoJ says bribes were largest it had discovered, as UK regulators fine US bank $126 million
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Banks and regulators call for global climate risk standards
Carney and Winters warn private sector cannot move much further without lawmakers
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
FSB unveils ‘comprehensive plan’ to reform global payments
“Roadmap” for cross-border payments to be considered by G20 leaders this week
FSB weighs impact of growing big tech dominance
Big tech offers benefits but is also using its clout to gain significant market power, FSB says
Fed and OCC act against Citigroup
US lender fined $400 million by OCC as regulators cite poor risk management
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk; efforts to expand focus beyond climate risks now under way
Fed will calibrate NSFR to avoid hurting repo
Fed’s supervision head says final liquidity rule will be fast-tracked without fresh consultation
Action needed to avert Latin American banking crisis – report
Emergency measures may mask growing solvency problems, institutions warn
ECB changes largest eurozone banks’ leverage ratios
Latest emergency response to Covid-19 should raise banks’ leverage ratios by about 0.3%, ECB says