Governance
Mauritian deputy governor outlines tighter corporate governance plans
Yandraduth Googoolye sets out recent efforts by the Bank of Mauritius to tackle corporate governance failures that emerged during the financial crisis
Ukraine replaces central bank head with deputy
Igor Sorkin to take over from Serhiy Arbuzov at National Bank of Ukraine – says he will prioritise currency stability and cut interest rates
Egypt appoints new central bank governor
Egyptian central bank governor resigns, replaced by former deputy; negotiations ongoing with the IMF
Central Bank of Cyprus defends re-hirings
Central bank employs three members of staff who had previously taken early retirement; defends decision as beneficial in ‘special circumstances’
Banks told they will not benefit from LCR delay
National supervisors tell banks not to lower liquidity buffers, with market forces also pushing banks towards 100% compliance with measure
UK statistics office to keep 'unsuitable' inflation measure
The UK Office for National Statistics will not change how it calculates RPI inflation – but will initiate an alternative index in parallel
PBoC’s Zhou promises more 'opening up' in 2013
Zhou Xiaochuan suggests the PBoC will make greater efforts in 2013 towards deepening financial reforms and ‘opening up’
National Bank of Austria reshuffles governing board
Governor Ewald Nowotny reappointed for second term; executive director Peter Zöllner departs for BIS, and two new executive directors are chosen
Bank of Canada wants national citizen to succeed Carney
Legislation dictates governor must be a Canadian citizen; advert for new governor released publicly on central bank website
Filipino deputy gears up for legal battle
Central Bank of the Philippines deputy governor clashes with local businessman over accusations of money laundering
Bank of Portugal suspends staff holiday pay
Board of directors voluntarily waives own holiday pay and cancels that of its staff; board members also agree to take a pay cut for the fourth consecutive year
Sarb hires head of new international relations department
Legal professor Daniel Bradlow will lead a new department at South African Reserve Bank designed to co-ordinate and direct its participation in international forums
Bank of Lithuania axes quarter of staff
Lithuanian central bank completes process of streamlining main operations under four branches; cuts 195 employees during the course of a year
Stiglitz slams ‘unconscionable’ central bank independence
Economist Joseph Stiglitz attacks central bank independence, saying conflicts of interest and recent interventions amounting to fiscal policy are unjustifiable for a non-elected body
Central Bank of Bosnia and Herzegovina names new vice-governor
Ernadina Bajrović will serve a four-year term and will be responsible for administrative and financial operations
RBI shakes up management roles as deputy departs
Duties of Reserve Bank of India governing board reshuffled as deputy governor Subir Gokarn’s term expires; new executive director appointed
Central Bank of Ecuador governor resigns
Pedro Delgado resigns after admitting he does not hold a degree in economics, according to local media reports
Central Bank of Nigeria denies Sanusi arrest warrant rumours
Central bank says no arrest warrant for Sanusi Lamido Sanusi issued – contrary to local media reports – but admits governor has defied parliamentary summons
Carney salary doubles to $1m with BoE move
Mark Carney will receive total remuneration worth over $1 million a year when he joins the Bank of England next year, making him one of the highest paid central bankers in the world
Governing the central bank governors
Central banks face multiple challenges in the current market environment. But they still need to press towards better governance to build institutions that are fit for purpose
The Bretton Woods transcripts
Bretton Woods was one of the world’s most important financial conferences, but one that was little known about until now
Striving for a strategic role for risk management
Risk management needs to be split from control functions to provide boards with a holistic view of qualitative and quantitative risks
Bank of Finland's Erkki Liikanen on bank separation in Europe
Bank of Finland governor, Erkki Liikanen, tells Christopher Jeffery why he believes the separation of ‘risky’ activities at banks represents the third leg to ensure financial stability in Europe
Central Bank of Ireland to toughen penalties for financial crime
Irish central bank looks to harden sanctions for financial crime, including doubling maximum fines and the possibility of criminal prosecution for top managers