By the Single Resolution Board (SRB) The Single Resolution Board (SRB) has today published its assessment of bank resolvability, for the first time. The resolvability assessment and ‘heat-map’ for 2021 shows that banks have made significant progress in the SRB’s priority areas. The assessment is based on the information available to the SRB during the drafting[…]
By Financial Stability Board (FSB) When commissioned in late 2021, this report to the G20 was intended to discuss policies in the aftermath of a past shock. Since then, the economic and financial market situation has evolved considerably and vulnerabilities that COVID-19 support measures prevented from materialising may now come to the fore. Link: Exit[…]
By the Single Resolution Board (SRB) The SRB today published its Annual Report for 2021. The report details the work of Europe’s Single Resolution Board and highlights the progress made in making Europe’s banking sector more stable, by ensuring all of the SRB’s banks are resolvable. The SRB focused on areas such as implementing the[…]
By Tobias Adrian and Jay Surti Countries have made substantial progress toward implementing capital markets regulatory reform, but important gaps remain and new challenges have raised the bar. Capital markets are like engines that help power the global economy: they perform best with regular tune-ups. In this spirit, the major regulatory overhaul following the global financial crisis was[…]
By Darrell Duffie, Thierry Foucault, Laura Veldkamp, Xavier Vives The digitalisation of financial services presents formidable tests for incumbent financial intermediaries, firms, exchanges and regulators. The fourth report in the series on The Future of Banking examines the growing impact of technology on financial markets and institutions and identifies the key challenges in payment systems, the use[…]
Key takeaways Two powerful forces – the Covid-19 pandemic and the Russian invasion of Ukraine – shaped economic outcomes over the past year. Growth was resilient, at least until the outbreak of the Russia-Ukraine conflict. Inflation rose to multi-decade highs against a backdrop of persistently goods-intensive demand and constrained supply. Stagflation risks loom large, owing[…]
Key takeaways A burst of creative innovation is under way in money and payments, opening up vistas of a future digital monetary system that adapts continuously to serve the public interest. Structural flaws make the crypto universe unsuitable as the basis for a monetary system: it lacks a stable nominal anchor, while limits to its[…]
The creation of the Banking Union in 2014 was a powerful response to the financial crisis, with significant progress on an EU single rulebook, on the establishment of a new European architecture for supervision and resolution, and on reducing risks. This has contributed to making Europe’s banks more robust and businesses, investors and citizens more confident[…]
By Itai Agur, Xavier Lavayssière and Germán Villegas Bauer Environmentally conscious design can make a major difference in the energy efficiency of digital currencies. Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, which is our focus here, and the carbon emissions associated with[…]
by Claudia Buch Speech by Prof Claudia Buch, Vice-President of the Deutsche Bundesbank, at the Centre for Economic Policy Research (CEPR) Symposium “Panel on systemic risk: Where is the next financial crisis coming from?” Link: Financial stability implications of the current geopolitical situation