Financial Stability
Updated 50 Bermuda dollar banknote enters circulation
New 50 Bermuda dollar banknote issued by Monetary Authority; includes new image of a longtail bird and reworked prefix on the serial number
Governor of Bangladesh Bank discusses increasing workforce
Atiur Rahman says Bangladesh must 'make the most' of low dependency ratio in population over next 10 years; urges pursuit of job-creating growth strategies
King says black clouds remain over UK economy
Governor of the Bank of England reveals lower growth prediction for UK; inflation also expected to fall but King denies country faces a lost decade
Irish financial accounts highlight increase in government liabilities
Quarterly financial accounts for Ireland show levels of government liabilities rising to historic peak; household debt declines slightly over the quarter
Banque de France paper highlights risks of financial markets opacity
Researchers find imperfect information on financial intermediaries’ exposures encourages risk-taking; suggest low interest rates and ‘gambling for resurrection’ raise systemic risk
Kenyan governor under fire over banknote printing contracts
Njuguna Ndung’u faces second public attack from politicians this year; latest complaint concerns handling of tender process for printing Kenyan banknotes
Central Bank of Ireland paper outlines changes to country’s European funding
Quarterly bulletin examines Ireland’s reliance on funding from Europe; highlights a decline in borrowing from Europe and an increase in Target2 liabilities
New Jamaican banknotes mark 50 years of country’s independence
Bank of Jamaica introduces new notes commemorating 50 years of political independence for the country; hybrid substrate used for first time
Troika maintains pressure on Greece
Officials from the European Commission, ECB and IMF will return to Greece in September to check on reform progress; central bank chief reportedly tells government the country is being 'defamed'
IMF urges Russian central bank to tighten policy
Article IV consultation recommends ‘gradual further tightening’ of monetary policy; preparation needed for informal inflation targeting in 2014
BoE’s Tucker says bail-ins part of too-big-to-fail solution
Paul Tucker says bail-ins are an ‘important topic’ for policy-makers trying to address the issue of ‘too-big-to-fail’ banks; hints others are considering similar options
RBI’s Subbarao discusses regulating banking innovation
Duvvuri Subbarao outlines Reserve Bank of India’s efforts to regulate innovation in payments systems; says 'foresight and wisdom' are needed by both innovator and central bank
Fed research deputy director testifies on triparty repo market
Deputy director of the Fed’s research and statistics department outlines efforts made towards reform and oversight of the US triparty repo market
Reserve Bank of Fiji grapples with credit card surcharge decision
Fijian central bank looks to Australian experience of updating rules regarding credit card surcharges; weighs up benefits of allowing additional charges ahead of final decision this month
PBoC, BoJ and Bank of Korea governors meet in China
Central bank governors meet to discuss economic and financial issues in the three countries; yearly meeting held as part of efforts to strengthen co-operation and communication
Brazil updates 10 and 20 real banknotes
Central Bank of Brazil releases latest new notes into circulation; total overhaul of currency underway to incorporate advanced security features
BIS paper assesses impact of public recapitalisations on bank risk
Research analyses changes in risk levels in banks that required public funding during the financial crisis; finds no consistent evidence that rescued banks reduced their risk by more than other banks
IMF paper estimates social costs imposed by systemic liquidity risk
Working paper develops systemic liquidity risk index to evaluate social cost created by liquidity assistance to financial sector; suggests premium could be imposed on banks to cover cost
Central Bank of Barbados launches charity coin collection
Public encouraged to hand in one cent coin collections; all proceeds will be donated to the Barbados Alzheimer’s Association to go towards building a day care centre
FMI resolution report published for consultation
CPSS and Iosco seek comments on new standards for recovery and resolution of financial market infrastructures; discuss how FSB’s work on resolution regimes will be taken into account
Ex-UK MPC members discuss future of eurozone
Panellists at event in London say euro will survive but with a smaller group of countries; argue UK is in dangerous position to respond to eurozone collapse
Fed reveals final rules for fraud prevention adjustments
Rules released permitting debit card issuers to receive an adjustment for fraud prevention; maintains cap of one cent a transaction but simplifies requirements
Central Bank of Bosnia and Herzegovina reports drop in counterfeits
Figures show 76% drop in counterfeits recovered in Bosnia and Herzegovina; new banknotes with improved security features hailed for large reduction in fake currency seized compared to last year
Asia CCPs unlikely to fully comply with Iosco before end-of-2012 deadline
New levels of complexity and ongoing regulatory framework discussions mean full compliance with Iosco’s new principles is unlikely before the January 1, 2013 deadline