News/Financial Stability
Malaysian central bank rebukes Google for exchange rate error
Google Malaysia says faulty exchange rate data came from third party and apologises for the error
ECB unveils new monetary policy framework
Move will see central bank make cheaper loans to eurozone lenders as it shrinks its balance sheet
BoE official reveals details of non-bank backstop design
Bank intends to activate mechanism in crises only, despite firms’ call for standing liquidity facility
UK floats plan to seize Russian central bank assets
Foreign secretary says country is prepared to act without all its Nato partners
Fight against money laundering must continue, Somali official says
Somali central bank aims to enhance transparency over financial flows, says deputy governor
Hong Kong eases homebuying curbs to support real estate market
HKMA relaxes mortgage rules and government removes cooling measures
Legislation needed to break non-bank deadlock – BIS’s Borio
Panellists at BoE event highlight array of shortcomings with regulatory framework
Belgian governor calls for rethink of EU climate policy
Transition to lower-carbon economy will create losers as well as winners, Wunsch says
EU isolates frozen Russian central bank interest
European leaders are divided over using Bank of Russia assets to fund Ukraine’s defence
Eurozone rate cut is ‘fast approaching’, says Panetta
Bank of Italy governor warns that delaying looser policy could lead to financial instability
US loan delinquency rates ‘rising across the board’ – NY Fed
Rising household debt burden ‘merits monitoring’ in months ahead
FX losses mount after Argentina’s devaluation
Citi, Adidas among those taking hits totalling over $3.3bn in Q4 as dealers cite lack of hedging tools
Chinese government replaces head of securities regulator
Move follows pledge by authorities to stabilise markets in wake of share selloffs
Iraqi central bank blocks dollar access to eight lenders
US official praises “progress” but says some Iraqi lenders are still breaking sanctions on Iran
PBoC steps up funding for development projects
Central bank injects 150 billion yuan amid slew of government measures to bolster property sector
BoJ policy-makers signal end to negative rates
Summary of meeting shows board members see higher chances of achieving virtuous wage-price spiral
China pulls report on merger of ‘bad banks’ with SWF
Tie-up could help separate government’s roles as regulator and shareholder in managers of bad debt
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
Hong Kong court orders liquidation of Evergrande
Decision could lead to complex winding-up process for debt-laden Chinese developer
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system