Project Tourbillon explores privacy, security and scalability for retail CBDCs. Two distinct prototypes based on the eCash design were built as part of Project Tourbillon.
Report by the Consultative Group on Risk Management (CGRM) established at the BIS Representative Office for the Americas
The Basel Committee on Banking Supervision today issued a public consultation paper on a Pillar 3 disclosure framework for climate-related financial risks.
FSB holds meeting of its Regional Consultative Group for Asia in Hong Kong.
by Anne Beck, Sebastian Doerr
An increasing number of policies addresses spatial inequality, which is believed to lie at the heart of economic and social cleavages, including entrenched poverty, deaths of despair, and political polarization. Yet little is known about the origins of the gap between prospering urban and "left-behind" rural areas that has emerged since the 1980s. We provide new evidence on the role of banking deregulation in explaining this rural-urban divergence in incomes. In particular, we show that the income gap widened following the removal of geographic restrictions on banking. While deregulation promoted an overall increase in incomes, the increase was significantly larger in urban counties. We show that this is due to increased competition in the banking industry in cities post deregulation. Competition benefited financially constrained small and young firms, thereby boosting employment and incomes in urban areas. Our findings inform the debate on regional inequality and the design of place-based policies.
Basel Committee issues public consultation on a Pillar 3 disclosure framework for climate-related financial risks. Forms part of its holistic approach to address climate-related financial risks to the global banking system. The Committee invites submissions on the proposals by 29 February 2024.
14 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
The European Banking Authority (EBA) today launched a public consultation on its draft Regulatory Technical Standards (RTS) on the conditions for assessing the materiality of extensions and changes to the use of internal models as well as to the subset of the modellable risk factors applicable under the Fundamental Review of the Trading Book (FRTB) rules. These RTS are part of the Phase 4 deliverables of the EBA roadmap for the new market and counterparty credit risk approaches. The consultation runs until 29 February 2023.
Basel Committee issues progress report on banks' implementation of the BCBS 239 Principles for effective risk data aggregation and reporting.
Nearly 10 years after the initial publication of BCBS 239, banks are at different stages in terms of aligning with the Principles. Additional work is required at all banks to attain or sustain full compliance.
The recommendations to banks and supervisors that were highlighted in previous reports still apply and are complemented by additional recommendations.
This volume discusses the major developments of the last two decades of central banking in the Americas, and how they might affect the future. It presents a collection of chapters – one from each country represented on the BIS Consultative Council of the Americas (CCA).
Keynote speech by Ms Cecilia Skingsley, Head of the BIS Innovation Hub, at the "Exploring central bank digital currency: Evaluating challenges & developing international standards" conference, 28 November 2023, Washington DC.
by Enisse Kharroubi, Renée Spigt, Deniz Igan, Koji Takahashi, Egon Zakrajšek
This paper studies how prices and markups respond to cost push shocks, taking the example of global oil supply shocks. Using sector-level data for the US, we first document a weaker pass-through of global oil shocks to PPI inflation in sectors where firms charge higher markups.
Report describes common characteristics of multi-function crypto-asset intermediaries, assesses their vulnerabilities and potential financial stability risks, and draws policy implications.
Сводная таблица замечаний и предложений по проекту указания Банка России «О внесении изменения в пункт 1 указания Банка России от 16 декабря 2019 года № 5352-У»
Application deadline: 1 January 2024 | Location: Basel, Switzerland
Welcoming remarks by Mr Ahmet Ismaili, Governor of the Central Bank of the Republic of Kosovo, at the World Savings Day, Pristina, 31 October 2023.
Introductory remarks by Mr Ahmet Ismaili, Governor of the Central Bank of the Republic of Kosovo, at the conference "Creating values – a gateway for the future", organised by the Society of Certified Accountants and Auditors of Kosovo, Pristina, 8 November 2023.
The Committee assessed the adoption of the Principles for Operational Resilience (POR) and the revised Principles for the Sound Management of Operational Risk (PSMOR, or collectively, "the Principles") published in March 2021. The assessment is meant to promote the adequate and timely adoption of the Principles.
The 2023 list of global systemically important banks comprises 29 banks, one less than the 2022 list.
Basel Committee provides additional information regarding the 2023 G-SIB assessment. Further details include global denominators and individual bank indicators. The release accompanies the Financial Stability Board's updated G-SIB list.
The European Banking Authority (EBA) today extended its risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision guidelines to AML/CFT supervisors of crypto-asset service providers (CASPs). The new guidelines set clear expectations of the steps supervisors should take to identify and manage money laundering and terrorism financing (ML/TF) risks in this sector and are an important step forward in the EU’s fight against financial crime.
BIS Papers No 142, November 2023. Papers in this volume were prepared for a meeting of emerging market Deputy Governors organised by the Bank for International Settlements on 16-17 March 2023.
Проект указания Банка России «О внесении изменения в Положение Банка России от 5 декабря 2016 года № 562-П «О порядке сообщения банком (иной кредитной организацией) об открытии или о закрытии счета, об изменении реквизитов счета в электронной форме в территориальный орган страховщика»
by Nina Biljanovska, Chenxu Fu, Deniz Igan
The rapid increase in house prices in the past few years, including during the COVID-19 pandemic, raises concerns about housing affordability. The price-to-income ratio is a widely-used indicator of affordability, but does not take into account important factors such as the cost of financing.
The European Banking Authority (EBA) today launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets. They also detail the procedures all these providers should put in place to manage a transfer of funds or a transfer of crypto-assets that lacks the required information. These Guidelines aim at forging a common understanding to ensure the consistent application of EU law as well as a stronger anti-money laundering and countering the financing of terrorism (AML/CFT) regime. The consultation runs until 26 February 2024.
Application deadline: 22 December 2023 | Location: Basel, Switzerland
Keynote speech by Mr Agustín Carstens, General Manager of the BIS, at the CBDC & Future Monetary System Seminar, Seoul, Korea, 23 November 2023.
by Fernando Avalos, Deniz Igan, Cristina Manea, Richhild Moessner
During the current monetary policy tightening episode, financial conditions co-moved closely with policy rates, especially in the initial stages but with some differentiation across countries. For advanced economies, the tightening of financial conditions was stronger this time than in the past, while its full impact on real activity appears to be taking longer than usual. Financial conditions may continue tightening long after central banks stop raising policy rates, with possible implications for financial stability.
FSB holds virtual meeting of the Regional Consultative Group for the Middle East and North Africa.
by Beatriz González, Galo Nuño Barrau, Dominik Thaler, Silvia Albrizio
This paper analyzes the link between monetary policy and capital misallocation in a New Keynesian model with heterogeneous firms and financial frictions. In the model, firms with a high return to capital increase their investment more strongly in response to a monetary policy expansion, thus reducing misallocation.
Long time-series data on the exchange rates against the US dollar have been updated. Data are published with daily, monthly, quarterly and annual frequency. The published series cover currencies for 190 economies, with monthly data starting at the earliest in 1791.
Monetary policy rates of central banks have been updated. Data are published with daily and monthly frequency. The published series cover 39 central banks, with data starting in 1946 for several countries.
Data on effective exchange rate have been updated. Broad indices cover 64 economies, with data from 1996. Narrow indices cover 26 economies with data from 1983. Data is available at nominal and real terms, at daily and monthly frequency.
Speech by Ms Christine Lagarde, President of the European Central Bank, at the high-level public discussion "Inflation kills democracy" on the occasion of the 100th anniversary of the currency reform in Germany in 1923, organised by the German Ministry of Finance, Berlin, 21 November 2023.
Speech by Dr Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank, at the European Insurance and Occupational Pensions Authority (EIOPA) Annual Conference 2023 "Hidden risks and new horizons", Frankfurt am Main, 21 November 2023.
The Basel Committee issues this newsletter to provide greater detail on its internal discussions regarding the implementation of the Principles for the effective management and supervision of climate-related financial risks (Principles).
Speech by Sir Jon Cunliffe, Deputy Governor for Financial Stability of the Bank of England, at the Economics of Payments XII Conference, hosted by the Federal Reserve Board, Washington DC, 26 October 2023.
Keynote speech by Mr Shaktikanta Das, Governor of the Reserve Bank of India, at the Symposium on Indian Economy 2023, organised by the Institute of Indian Economic Studies, Tokyo Chamber of Commerce and Industry, Tokyo, 9 November 2023.
Speech by Mr Pablo Hernández de Cos, Governor of the Bank of Spain, at the Bank of Spain-CEMFI Conference on Ageing, Georgetown University Global Economic Challenges (GEC) Network, Madrid, 17 November 2023.
Speech by Mr Pablo Hernández de Cos, Governor of the Bank of Spain, at the Annual Convention of the Asociación de Mercados Financieros, Madrid, 20 November 2023.
Opening remarks by Mr Luigi Federico Signorini, Senior Deputy Governor of the Bank of Italy, at the OECD-Bank of Italy Symposium on "Financial Literacy and Empowerment: Data, Policies and Evaluation", Rome, 17 November 2023.
Speech by Ms Lisa D Cook, Member of the Board of Governors of the Federal Reserve System, at "Global Linkages in a Post-Pandemic World" 2023 Asia Economic Policy Conference, sponsored by the Federal Reserve Bank of San Francisco Center for Pacific Basin Studies, San Francisco, California, 16 November 2023.
Keynote speech by Dr Joachim Nagel, President of the Deutsche Bundesbank, at the 33rd Frankfurt European Banking Congress, Frankfurt am Main, 17 November 2023.
Speech by Mr Michael S Barr, Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, at the 2023 US Treasury Market Conference, Federal Reserve Bank of New York, New York City, 16 November 2023.
Speech by Mr Philip N Jefferson, Vice Chair of the Board of Governors of the Federal Reserve System, at "A Look at the Past, Present, and Future," a conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington DC, 8 November 2023.
Remarks by Ms Sharon Donnery, Deputy Governor of the Central Bank of Ireland, at The Compliance Institute annual conference, Dublin, 14 November 2023.
12 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) on the assessment methodology under which competent authorities verify institutions’ compliance with the requirements applicable to their internal models under the Fundamental Review of the Trading Book (FRTB) rules. These RTS are part of the phase 4 deliverables of the EBA roadmap on market risk and counterparty credit risk approaches. Today’s final draft RTS represent a significant milestone in the implementation of the FRTB internal models in the EU.
Sound insurance pricing and underwriting practices are essential to manage financial risks arising from climate change. At the same time, insurers' pricing and underwriting policies can influence climate risk adaptation and risk mitigation measures.
Application deadline: 12 December 2023 | Financial Stability Board (FSB) | Basel, Switzerland
Ceremonial address by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, to mark ETH (Eidgenössische Technische Hochschule/Federal Institute of Technology) Day 2023, Zurich, 18 November 2023.
16 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
6 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
17 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
14 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
16 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
5 hours ago ... Pillar Two Model Rules. Preparations for the entry into force of the. Corporate Sustainability Reporting Directive. European Commission's recommendation on.
5 hours ago ... financial statements to understand the issuer's exposure to Pillar Two income taxes at the end of the ... 8 IASB, IFRS Practice Statement 2: Making Materiality ...
14 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
5 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
9 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
6 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
4 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
4 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
8 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
7 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
8 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
8 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
8 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
8 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
15 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
15 hours ago ... Internal Capital Adequacy Assessment Program (ICAAP) · IFRS 17 Insurance Contracts · IFRS 9 · Liquidity Compliance · Regulatory Capital · Regulatory Reporting ...
7 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
20 hours ago ... Involvement in Aukus pillar 2, which is the sharing of information in new cutting-edge defence technologies, looks like a poor strategy for New Zealand, ...
7 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
15 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
13 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
7 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... The planned dismantling of the old 2nd pillar pension funds (OFE) is still a ... Composition of the pension sector in Poland; Pillar II: Assets, members, ...
12 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
12 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
15 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
10 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
13 hours ago ... Pillar #2 — The Power of Patience. Patience is a crucial element in the pursuit of success. Patience is a superpower that allows us to nurture success ...
17 hours ago ... This week's talks are the fourth round of negotiations and the first since the conclusion of Pillar 2 which is centered on a supply chain issues agreement ...
5 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
15 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
14 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
14 hours ago ... ... introduced under Pillar 1 in 1991, which was followed by the Pillar 2 ... Two elderly men play Chinese chess at a park in Beijing on April 25, 2023.
22 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
4 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
4 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
18 hours ago ... ... on climate and environmental risks, including full integration in the Internal Capital Adequacy Assessment Process (ICAAP) and stress testing.”.
7 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
11 hours ago ... Allowance for Loan & Lease Losses (ALLL); Basel I, II, III · Current Expected Credit Loss Model (CECL) · Internal Capital Adequacy Assessment Program (ICAAP) ...
Положения Банка России "О требованиях к системе управления операционным риском в кредитной организации и банковской группе"