On the 27th of May more than 40,000 runners from 120 different nationalities will occupy the lanes and parks of Brussels, on the occasion of the 20km of Brussels – one of the largest amateur sport events in Europe. Among them will be Team RUN FOR #ZEROCORRUPTION – as you may have guessed this is an initiative from the Belgian chapter of Transparency International. Initiator Evert-Jan Lammers: “The idea came up three years ago at the time of the scandals at FIFA and the Russian Athletics Federation. The Olympics in Rio and the European Soccer championship in France were under preparation. For some years already, Transparency International had its spotlight on the weak governance in the sport industry, and also the increasing problems of match fixing, illegal betting and doping.
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The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) proposed a rule that would further tailor leverage ratio requirements to the business activities and risk profiles of the largest domestic firms. Currently, firms that are required to comply with the “enhanced supplementary leverage ratio” are subject to a fixed leverage standard, regardless of their systemic footprint. The proposal would instead tie the standard to the risk-based capital surcharge of the firm, which is based on the firm’s individual characteristics. The resulting leverage standard would be more closely tailored to each firm.
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Christine Lagarde, IMF Managing Director  on th global economy: “Like others, I am always struck by Hong Kong SAR’s unique flavor. Think of the incredible ingenuity and energy of its people. And think of their ability not just to adapt to change, but to actively shape their future. Hong Kong’s transformation – from manufacturing powerhouse, to global trade engine, to world-class financial center – reflects its unique commitment to openness, to combining home-grown talent with fresh ideas and expertise from across the world. Of course, greater economic openness increases one’s sensitivity to shifting trends. Hong Kongers are keenly aware that economic history never moves in a straight line but in cycles. And they know that when the economy is moving – up or down – policymakers cannot afford to stand still. This is also the story of our global economy.”

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The European Central Bank (ECB) has launched a public consultation calling on financial market infrastructures (FMIs) and other interested parties to give their input on draft cyber resilience oversight expectations. Cyber resilience is an important aspect of FMIs’ operational resilience and is thus also a factor affecting the overall resilience of the financial system and the broader economy.

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The Financial Conduct Authority (FCA) have published an easy read guide on everyday banking, aimed at helping autistic consumers better understand financial services. FCA have developed this guide in partnership with The National Autistic Society (NAS). FCA will publishing the guide during World Autism Awareness Week, in an effort to raise awareness of the issues some autistic people face when accessing financial services.
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In January 2016, the Basel Committee on Banking Supervision published the standard Minimum capital requirements for market risk. This new market risk standard was developed to address a number of structural shortcomings in the Basel II market risk framework (and its subsequent revisions), and served as a key component of the Basel Committee’s reform of global regulatory standards in response to the global financial crisis. In the time since its publication, the Basel Committee has monitored the pace of implementation of the market risk standard as well as its impact on banks’ market risk capital requirements. In acknowledgment of ongoing challenges related to implementation of the standard, the Basel Committee’s oversight body, the Group of Governors and Heads of Supervision (GHOS), has endorsed an extension of the implementation date to 1 January 2022 (which will constitute both the implementation and regulatory reporting date for the standard). This deferred implementation date is intended to allow banks additional time to develop the systems infrastructure needed to apply the standard and for the Committee to address certain specific outstanding issues.

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In here speeech during the Asian Banker Digital Finance Convention 2018, Ms Jessica Chew Cheng Lian, Deputy Governor of the Central Bank of Malaysia, talks about the role of digital leadership, ensuring the quality of growth in the financial sector, future-proofing the workforce and preparing the society for digital finance.
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The Bank for International Settlement (BIS) explores the role of interest rates in monetary policy transmission in China in the context of its multiple instrument setting. In doing so, BIS construct a new series of monetary policy surprises using information from high frequency Chinese financial market data around major monetary policy announcements. Their event analysis shows that monetary policy surprises have persistent effects on interest rates. Then they use these surprise measures as external instruments to identify monetary policy shocks in an SVAR. BIS finds that a contractionary monetary policy surprise increases interest rates and significantly reduces inflation and economic activity. Our findings provide further support to recent studies suggesting that monetary policy transmission in China has become increasingly similar to that in advanced economies.

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