Single Resolution Board (SRB) publishes its final ‘Minimum Requirements for Own Funds and Eligible Liabilities (MREL) Policy under the Banking Package’, along with an overview of the SRB responses to the industry consultation. The consultation took place between 17 February and 6 March 2020.
Topics: Monthly Report available in second decade of February. Earnings season preview. ECB launches review of its monetary policy strategy. Repo interventions continued in January. The Bank of England on Libor scandal. EBA released Risk Dashboard and announced public consultation on EU-wide stress tests.
Topics: New version of COMB 2.5.22; Shares in the embattled German lender Deutsche Bank hit a record low; Euronext has won approval from Norway’s finance ministry; BlackRock’s (NYSE:BLK) withdrawal from the proposed deal; HSBC reported banner first quarter results; The ESRB risk dashboard; The ESRB Review of Macroprudential Policy.
Topics: U.S. bank results underwhelm so far; The U.S. Federal Reserve Board rules for foreign banks; Trump sues Deutsche Bank, Capital One; Deutsche Bank profit surges but full-year revenue target cut; IMF – Global Financial Stability Report; EBA publishes updated impact of the final Basel III reforms.
The global upswing in economic activity is strengthening, with global growth projected to rise to 3.6 percent in 2017 and 3.7 percent in 2018. Broad-based upward revisions in the euro area, Japan, emerging Asia, emerging Europe, and Russia more than offset downward revisions for the United States and the United Kingdom. But the recovery is not complete: while the baseline outlook is strengthening, growth remains weak in many countries, and inflation is below target in most advanced economies. Commodity exporters, especially of fuel, are particularly hard hit as their adjustment to a sharp stepdown in foreign earnings continues.
The Global Financial Stability Report provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context. It focuses on current market conditions, highlighting systemic issues that could pose a risk to financial stability and sustained market access by emerging market borrowers. The Report draws out the financial ramifications of economic imbalances highlighted by the IMF’s World Economic Outlook. It contains, as special features, analytical chapters or essays on structural or systemic issues relevant to international financial stability.