Systemic importance
Finma to revise UBS’s recovery and emergency plans
Swiss regulator suspends annual plan approval because of “obstacles” created by Credit Suisse merger
JP Morgan becomes world’s most systemically important bank
A handful of banks climb the rankings in this year’s updated FSB G-Sib list
Management failings caused Australian equity trading platform outage
Responsibility for upgrade project was unclear, IBM review finds
Systemic banks shrink balance sheets at reporting dates – BIS paper
Authors find “systematic” balance sheet compression often results in lower capital requirements
Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
Book notes: The handbook of China’s financial system, edited by Marlene Amstad, Sun Guofeng and Xiong Wei
An important, comprehensive and informed overview of the current state of the Chinese financial system
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors
RBNZ gains new FMI oversight powers
Central bank and FMA will be able to set standards for systemically important infrastructures
ECB’s de Guindos calls for prompt action on climate change
ECB warns of “systemic risk” as it unveils preliminary results of eurozone-wide climate stress test
BIS research maps out links between banks and non-banks
First attempt at global mapping reveals significant scale of interconnections
Knot warns deviations from global standards must be temporary
“If the US starts distancing itself from international standards, that is quite something,” says Dutch central bank chief
MAS ramps up liquidity support
Financial sector will have increased access to Singapore and US dollar funding
Carstens, Jordan, Weber: respect the boundaries of fiscal and monetary policy
Axel Weber says huge US deficit could pose problems for global financial stability
Covid-19 should serve as warning for climate change – BIS official
Policy-makers need “holistic approach” to global risks, says Luiz Awazu Pereira da Silva
Fed’s Quarles warns big balance sheet could harm credibility
Fed official proposes tweaks to discount window and G-Sib surcharges to improve monetary framework
FSB’s G-Sib list increases by one
One joins the list and one major bank drops to a lower bucket
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics
BoE FPC: Markets may ‘jump to illiquidity’ if stressed
Debt and “structural illiquidity” could amplify global shocks, warns committee
Fed floats new stress test reforms after industry pressure
Previous proposal drew criticism from major global banks
Canadian collateral can withstand crisis-level systemic risk – BoC paper
Trading by bank customers could be a potential indicator of future crisis, researcher says
US bank supervisor creates new division for largest banks
New FDIC division offers simplified structure that fosters greater collaboration, chairman says