Category Archives: Supervision

Crisis Preparedness in the Age of COVID-19: a Primer

Maintaining confidence and the smooth functioning of financial markets[i] As the world shelters from COVID-19 and attends to those already ill or infected, the primary concern of central banks, stand-alone financial sector regulatory authorities, and deposit insurers (collectively, regulatory authorities or RAs) must be the health and workplace safety of their senior management, staff, and […]

COVID-19: Financial Stability and Business Continuity Management – Part B

This is the second of a two-part series of our discussion on COVID-19, financial stability and business continuity management (BCM). In Part A we discussed the steps regulatory authorities can take to implement their own BCM programs, and expect from their regulated FIs, during the current pandemic. This blog post is Part B, and is […]

Coronavirus and the Global Economy: Central Banks’ Policy Responses Update 1

This post is an update of our blog Coronavirus and the Global Economy: Central Banks’ Policy Responses published on 5 March 2020, chronicling central banks and policymakers’ responses to COVID-19. We note that the COVID-19 outbreak has generated both demand and supply shocks reverberating across the global economy. Among major economies outside of China, the […]

COVID-19: Financial Stability and Business Continuity Management – Part A

In many conference speeches, training presentations and papers since the end of the Great Financial Crisis, we often heard or read that “we don’t know when or from where the next crisis will come, but it will surely come.” It is too early to say that COVID-19 is or will precipitate another large scale global […]

Coronavirus and the Global Economy: Central Banks’ Policy Responses

Since the outbreak of the novel coronavirus (Covid-19) in China, central bankers and policymakers have kept a very sharp eye on the health of the global economy. In some cases, Covid-19 has been compared to SARS in 2003, which some economists estimate cost the global economy $45 billion. At that time China only represented 8% […]

A New Tool to Measure a Bank’s Risk of Failure

A recent paper argues that despite the revisions to the Basel capital framework (Basel III/IV), the fundamental flaw in the underlying methodology used for calculating the amount of capital a bank should hold remains, and that the true risks the bank may be subject to continue to go undetected. Entitled “ELPR: A New Approach to […]

The Beginning of the End for the Dollar?

The weakening of the dollar and the end of its dominance of the global financial system has alternately been predicted and appealed for over many years. Yet the fact that this is now being publicly called for by a member of the establishment, indeed by no less than the Governor of the Bank of England […]

Facebook’s Libra: Thoughts from a Regulatory Perspective

So, the white paper on Libra has finally been released, and it’s capturing headlines all around the world. The introduction to the concept paper states that the document is an outline for a new decentralised blockchain, a low volatility cryptocurrency and a smart contract platform that all create a new opportunity for responsible financial services […]