Supervision
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
National Bank of Denmark divests stake in securities firm
Central bank will sell its 24.2% ownership of VP Securities to Euronext
FSB consults on cyber attack ‘response and recovery’
“Efficient and effective response” is critical to minimising the financial stability impact, report says
BoE and ECB weigh calls to follow US lead on capital relief
European regulators face pressure to exempt sovereign exposures from the leverage ratio
FSB outlines 10-point plan for tackling global stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
Beware of capital: much ado about nothing?
Capital increases can be offset by asset valuation, provision and income recognition forbearance
People: Sarb and BoE renew senior appointments
Senior Sarb and BoE officials receive new terms; MAS picks new assistant managing director; ECB appoints director; William Dudley takes consulting job
‘Ostrich approach’ to financial stability is a mistake
Denmark’s top supervisor, Jesper Berg, says scaling back IFRS 9 would be a costly error, despite the economic challenges raised by Covid-19
US regulators offer more guidance on loan restructurings
Any modified loans remain eligible collateral for discount window, Fed says
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
BoE axes 2020 stress test and gives supervisory guidance
IFRS 9 a challenge for firms given high uncertainty over virus impact
ECB lowers capital levels as EBA postpones stress tests
Coronavirus response sees ECB loosen limits for largest banks while EBA calls for supervisory flexibility
Cannabis industry causing problems for Caribbean finance - ECCB
Industry could lead to further de-risking efforts from foreign banks, central bank warns
Fed ramps up Covid-19 response
Central bank in “firefighting mode”, undoing repo tapering and offering regulatory relief to banks
RBI prepares rescue plan for failed bank
State Bank of India agrees to help rescue Yes Bank, which remains under “moratorium”
Tough inspections help cut zombie lending, paper finds
Checking banks’ assessments of asset quality cut loans to non-viable firms – Bank of Portugal paper
ECB mulls wider clearing house access to account facilities
Including CCPs in the Eurosystem may remove the need for them to seek a banking licence
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Book notes: After the crash, by Sharyn O’Halloran and Thomas Groll
The book seeks to identify seeds of the next crisis, and the overriding impression is a plea for more regulation
Fintech creating data gaps, BIS survey finds
New players do not always fit neatly into current statistical frameworks
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Activist claims Bailey ‘not fit’ to govern BoE
High-profile activist criticises Bailey and FCA in new report, calling for investigation into his appointment
People: UK’s FCA makes three new appointments
FCA reshuffles board; senior Bank of Spain official joins Single Resolution Board