Supervision
RBNZ demands action from insurers accused of conduct failings
Central bank finds “extensive weaknesses” in conduct and governance at life insurers
Data services: Vizor Software
The Irish tech company has rolled out major updates to pave the way for more agile supervision as its scalable system won major repeat business with Sama and the Bank of England
Bahamian financial sector shrinks by more than a third in six years
De-risking in international finance has disproportionately hit Caribbean banks, Rolle says; Bahamian banking reforms heighten concerns
Initiative of the year: RBNZ’s Financial Strength Dashboard
The Reserve Bank of New Zealand’s Financial Strength Dashboard offers a window into the nation’s banking system
MAS to gain powers over wider set of payment services
Central bank will also enforce new limits for coin payments
AML/CFT regulation to cover crypto assets – Sarb
New proposals will construct a “limited” regulatory framework for crypto assets
Supervisory lessons: resolution is a ‘dirty business’
Former Bank of Spain head of supervision Aristóbulo de Juan reveals his principles for resolving problem banks in the final article of a four-part series
European auditors ask lawmakers for increased access to ECB documents
ECB has failed to provide sufficient information in three major audits, official body says
EC should conduct ‘comprehensive’ crypto analysis, says EBA
Regulator says crypto assets fall outside the scope of current EU financial services regulation
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana
Report reveals damage caused by Bank of Mongolia’s ‘quasi-fiscal’ policies
Discontinued policies may have undermined key parts of the central bank’s mandate, created inflation and generated huge losses, report finds
Staff cuts made at majority of central banks since 2013
But staff numbers grow at several banks, including ECB and Bank of England
Diverging regulatory policies could spell trouble for banks, report says
Deloitte says there are obvious signs of regulatory divergence as regulators and supervise focus on national policies
RBNZ launches charter in bid to improve relations with banks
Relationship Charter designed to ensure institutions follow appropriate conduct
Zimbabwean central bank officials cleared of wrongdoing
Governor Mangudya says investigation absolves of any wrongdoing, despite previous claims of corruption from former government official
IMF urges eurozone to complete banking union with common deposit insurance
European leaders failed to agree on a common deposit insurance scheme at last week’s summit
Israeli supervisors welcome FATF membership
International body sets standards to combat money laundering and terrorism financing
Bahamas official criticises international rule-making
Although intentions are good, rules are often painful and unhelpful, Littrell says
Brainard reboots calls for countercyclical buffers
“Countercyclical capital requirements build resilience, unlike monetary policy,” Brainard says
IMF tells Jamaica to bring in risk-based supervision
IMF sets year deadline for new framework implementation and urges improved co-ordination among regulators
Increasing banks’ capital could enable looser regulations, says Greenspan
Former Fed chief discusses new book, ‘Capitalism in America, a history’, with journalist and co-author Adrian Wooldridge
Basel Committee points to delays in adoption of Basel III standards
Only 10 of 27 jurisdictions have final rules for Net Stable Funding Ratio
Singapore’s financial system resilient amid increased global risks – MAS
Despite headwinds the financial system can withstand ‘severe shocks’, the central bank says
Interview: Clair Mills on the meaning of fintech
The Bank of England’s head of change and data management discusses why fintech is so important for a financial sector going into uncharted territory