Financial Stability
Trichet calls on Troika to ‘gradually disappear’
Former ECB president Jean-Claude Trichet defends the central bank’s role in the Troika; says the group should be phased out as policy-makers move away from curing crises and towards preventing them
Bundesbank paper finds benefits in concentrated bank lending
Researchers find that banks with more concentrated credit portfolios have lower expected write-offs and unexpected risk than their counterparts
Basel Committee publishes leverage ratio definition
Basel Committee agrees common definition for simple bank leverage ratio; discussions set to continue over the appropriate required level
ECB unveils new €10 note
Yves Mersch presents the design of the new €10 banknote in Frankfurt; equipped with new security features to help keep rising counterfeit rates in check
MAS says lack of global regulatory standard for virtual currencies cause for concern
Singapore's monetary authority and chief financial regulator singles out the likes of Bitcoin as a potential conduit for illicit activities, in survey on money laundering and terrorism financing
Payments and clearing technology provider of the year: VocaLink
VocaLink has excelled by building the infrastructure for a new accounts switching service in the UK and exporting its pioneering Faster Payments platform overseas
ECB deflects parliament questions on troika
European Central Bank publishes response to a European Parliament questionnaire on the financial assistance programmes brokered by the troika; Irish governor praises ‘rigorous adherence’ to fiscal goals
MAS' Menon warns Myanmar over ‘big bang' liberalisation
Singapore monetary authority managing director says Myanmar must liberalise its financial sector, but at a measured pace
ECB appoints four SSM department heads
New directors general include a former secretary-general of the BCBS and hires from the central banks of Spain and Finland; ECB endorses Sabine Lautenschläger for its executive board
European Commission pushes for Sepa deadline extension
Michel Barnier defies the Eurosystem by pushing for a six-month extension to the February 1 deadline for migration to the Single Euro Payments Area
Turkish banks 'sound' despite 'significant increase' in non-deposit funding, central bank says
Lenders' asset quality and capital adequacy high enough to withstand shocks according to new financial stability report; liquid FX assets cover 'half' of sector's short-term external debt
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
Singapore intensifies efforts to cut banknote waste
Monetary Authority of Singapore unveils a social networking campaign that encourages the public to refrain from giving brand new banknotes to each other at Chinese New Year
Flug turns Bank of Israel focus to financial stability
Central bank's 'workplan' for 2014 centres on financial stability reforms; governor tells Knesset that stress tests show banking system is strong, but operating efficiency remains low
Dutch paper finds that bonuses are main cause of distrust in banks
Researchers at Dutch central bank find that banker bonuses have a greater impact on public trust than government intervention, stock prices and media reports
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Bank Indonesia hands supervisory powers and 1,150 staff members to FSA
Shake-up of bank supervision sees micro-prudential responsibilities transferred from the central bank to the financial services authority
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
RBA bulletin considers CCP resolution
Reserve Bank of Australia quarterly bulletin features an article on the recovery tools and resolution regimes that could be employed when central counterparties suffer losses
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor