Systemic risk
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Shadow banks need macro-pru regimes – Bundesbank paper
Limits on shadow banks’ leverage could have helped avert global financial crisis, researcher finds
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
War forcing central banks into ‘delicate balancing act’, says IMF
Sudden repricing of risk could expose vulnerabilities, fund says in latest stability report
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Latin American dollar debts could cause systemic risk, paper says
Authors say the Fed risks a major policy mistake if it ignores the wider impact of tighter US policy
Experts urge OCC to include climate risk in bank exams
Regulator’s proposed principles are step in the right direction, but still behind Europe
Reputational risk tops central bank concerns
Cyber security and credit/counterparty risk followed
GFXC names SNB’s Maechler as new chair
Swiss central banker succeeds Guy Debelle
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
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
More macro-pru tools needed, say some central banks
Some benchmark respondents say they lack legal framework for macro-prudential powers
FSB relaunches global surveillance framework
New approach aims to be more systematic and reflect FSB’s “broad membership”
Emerging nations favour different macro-prudential tools
Respondents from richer countries use counter-cyclical buffers more than emerging market peers
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-prudential restrictions
Management failings caused Australian equity trading platform outage
Responsibility for upgrade project was unclear, IBM review finds
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”