Regulation
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
European Commission in ‘listening mode’ on potential FRTB changes
Delay or relief measures on the table after UK postpones start of Basel III to 2027
Esma sets deadline for delisting non-compliant stablecoins
Providers have until end of March to fully comply with Mica regulation, European supervisor says
Cyber and geopolitical risks are managers’ top risks
Geopolitical risks seen rising fastest, but cyber is the biggest concern currently
BoE governor calls for greater global financial regulation
Bretton Woods institutions need to be proactive in an increasingly shock-prone world, Bailey says
Central banks keep ISO 31000 and COSO-ERM as main approaches
Principles tend to vary slightly by central banks’ risk management philosophies
Malaysia launches centralised dispute resolution service
Central bank governor says initiative aims to make it easier to seek redress for financial losses
BoE collaborates with NY regulator on crypto supervision
Senior staff to exchange expertise in digital payments and distributed ledger technology
Lending conditions risk re-run of 2008 crisis, says FDIC chair
Gruenberg says proliferation of non-banks is adding to financial stability risks
Basel stops short on wrong-way risk
New guidelines a step in right direction, but experts warn they won’t prevent another Archegos
Trump 2.0 bank supervision: simpler but no soft touch?
Republican FDIC vice-chair Travis Hill wants more focus on financial risk instead of process
FDIC vice-chair heralds likely changes under Trump 2.0
Hill suggests looser regulation and ignoring climate risks will be focus under new administration
One-fifth of central banks lack defined risk tolerance and strategy
But majority of respondents apply risk management principles to policies and processes
IMF tells Kenya to step up regulation of crypto market
Authorities will need to better understand digital assets market before changing policy, report says
Adoption of governance, risk and compliance systems still partial
Respondents mention main service providers and plans to upgrade
Barr’s Fed exit likely to delay, but not destroy, Basel III
Market risk, op risk and leverage ratio all in the sights of Barr’s potential successors
Brazil grants Paysafe licence for online gambling market
BCB gives UK-based company green light to operate as payment institution for newly regulated sector
Decentralised risk teams less likely to have chief risk officers
CROs are also less common at Asia-Pacific and European central banks
BoE’s new research agenda adds focus on balance sheet
Three-year plan responds to inflation surge, market turmoil and changed mandates
Credit and counterparty risk gains relevance as most covered risk
But central banks’ top risks vary by geographical regions
Centralised risk teams tend to have more sub-units
Size of central banks with climate change risk unit steadies at 12%