Governance
Worrell’s woes: Barbadian governor battling on two fronts
Further evidence emerges on governor’s clash with finance ministry and board; Worrell worried about level of reserves and fiscal spending, while senior management complains of being marginalised
Carstens agrees to stay at Bank of Mexico until December
Following a meeting with the Mexican president and finance minister, the governor will stay until end-November; BIS board approves the arrangement with general manager Caruana to stay until December
Sri Lankan governor appears before inquiry into alleged fraud
Critics allege malpractice involving firm owned by former governor’s son-in-law; local media report officials also worried by severe drought
People: Riksbank’s Nessén takes on new advisory role; Albizu retains CMCA chair
Riksbank’s head of monetary policy takes on new board advisory role; Dominican governor reappointed by peers to serve as the CMCA’s chairman for another six years; and more
Market discipline stems Level 3 asset manipulation – paper
Bank of England paper shows link between low capital ratios and Level 3 assets between 2008–2013, but market discipline moderates the impact from accounting discretion
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made
Central bank of the year: Bank of England
The BoE has undergone a major restructuring that has reshaped its organisational framework, research and public interaction – leaving it well positioned to meet the challenges ahead after a tough year
Risk manager of the year: Bank of Ghana
The central bank has built a dedicated risk function, instilling a strong risk management culture into business operations and protecting itself from emerging threats
People: MAS picks chief for new data group; SBP deputy reappointed
MAS appoints machine-learning specialist as chief data officer; State Bank of Pakistan deputy gets another term; long-serving IAIS secretary-general to step down
Spanish ex-governor to appear in court over ‘Bankia affair’
Three Bank of Spain employees resign over investigation of commercial bank collapse
Barbados’s Worrell told to resign or be fired
Governor’s “dictatorial” management style is impacting morale, says board member; court blocks dismissal until February 22
Initiative of the year: Saudi Arabian Monetary Authority’s compliance standards activation project
Sama has made a strong start in its efforts to develop an enterprise-wide risk management culture
Tarullo resigns from Fed board
Early departure may give Trump a chance to reshape US regulation
BoE should embrace the ‘spirit’ of the millennial – Carney
The millennial way of thinking is “better suited” to the current challenging environment – Carney; governor believes the younger generation might have something to offer when it comes to problem-solving
Ruling party think-tank leader endorsed as Tetangco’s replacement
Senate president endorses private sector banker with ties to ruling party; time “for bold and innovative” leadership at central bank, he says
Central bank governor of the year: Carlos Fernández Valdovinos
The governor of the Central Bank of Paraguay has had considerable success hitting Paraguay’s tightening inflation target while boosting the nation’s economic credentials
People: Kristin Forbes to depart BoE; Fed’s general counsel to retire
Monetary policy committee member will leave at end of term; Scott Alvarez to step down from Fed; Bank of Portugal replaces prudential supervision head; and more
Ballerina gives BoE a lesson in transformation
English National Ballet’s artistic director draws lessons from a controversial process of modernisation at her institution, in conversation with Andy Haldane
Charlotte Hogg to replace Shafik at BoE
BoE’s COO steps into new combined deputy governor and COO role; Minouche Shafik to move to post at the London School of Economics
Bank of Russia sets up two new regulatory departments
Responsibilities include administration regimes, managers’ qualifications and external audit
Ukrainian central bank protests over senior official's arrest
Move comes amid political attacks on NBU governor Gontareva
Graeme Wheeler to stand down this year
RBNZ governor will not seek a second term; deputy to take interim role as succession process complicated by elections
US congressman: Yellen must stop international negotiations
Fed must allow President Trump to appoint new officials, Republican lawmaker says; calls for “fundamental review” of Basel III and other recent accords
FCA's McDermott joins StanChart
Former FCA acting chief executive starts her new role in March