Banks
Russian legislators approve Islamic banking pilot
Two-year programme may attract foreign capital or appease restive minorities
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
US regulators fine Bank of America $150 million
BoA pays out nine-figure penalties for consumer malpractice for second year in a row
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
Bye-bye BCRA?
An Argentine presidential candidate proposes abolishing the central bank and the peso
PBoC extends relief measures for struggling developers
Developers are allowed loan repayment extensions by another full year
IMF repeats warning on Marshall Islands’ fintech plans
Fund proposes Pacific island state could set up a ‘monetary authority’
Uganda passes Islamic banking law
Parliament removes provision for sharia advisory council at the Bank of Uganda
ECB supports European Commission’s banking plan
Central bank calls for eurozone-wide guarantee scheme and more funds for resolution
Basel Committee overhauls supervision guidance
Key updates cover supervision of risks related to interest rate, operations and climate
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
PBoC eyes further opening of onshore repo for foreign investors
Chinese central bank gives first official signal it is looking at Swap Connect-style scheme for repo
Currency round-up: New yen banknotes to arrive in July 2024
De La Rue outlook brightens; Egypt continues transition to polymer; and more
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Largest US banks pass the Fed’s stress test
Scenario saw banks continue lending despite losses three times greater than those of 2008 crisis
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
MAS proposes raising deposit insurance cap
Singaporean central bank says the change will mean 91% of depositors are fully covered by scheme
Low rates have small effect on bank profitability – researchers
A 100bp rate cut results in 5bp fall in banks’ net interest margins on average, study shows