Central Banks
Financial risk teams have higher staffing ratio than other units
Cyber risk and other threats prompt greater staff allocation to sub-units
Saudi Central Bank consults on draft banking law
Law’s goals include “enhancing banking secrecy” and improving depositor protection
Federal Reserve fines bank over AML breaches on Covid-19 loans
Popular Bank allegedly processed six coronavirus-era loans with significant signs of fraud
Bank of Jamaica to regulate non-bank sector after fraud scandal
Central bank takes over from commission after alleged crime that targeted Usain Bolt
Brazilian ex-deputy governor says inflation target too low
Mandatory public spending means Brazil will have higher inflation than its peers
Lael Brainard may take White House post
Biden could ask Federal Reserve vice-chair to lead economic council, reports say
Financial risks report published across 75% of jurisdictions
Frequency of publications and levels of transparency vary across jurisdictions
New Zealand opposition leader says he would end dual mandate
National Party chief says he will drop employment target and tell RBNZ to concentrate on inflation
BoJ should consider ending yield curve control – IMF
Fund warns inflation risks could force central bank to take “much stronger” action
Expected loss model can cut capital procyclicality – BoE paper
New approach to loan loss provisioning can improve stability of capital and leverage ratios
BIS paper proposes new capital flow management tool
Offsetting capital flows rather than blocking them could be the optimal choice, authors say
Rates round-up: Canada to pause after 25bp rate rise
Thailand ups 25bp; Nigeria increases sharply; Angola opts for cut; and more
RBNZ to expand FX reserves
Bigger economy and markets demand larger pool of reserves, central bank says
Haiti receives $105 million emergency loan
IMF urges central bank to cut back monetary financing
Centralised departments more likely to face new responsibilities
Respondents reported changes in risk approaches to the environment, and banking and insurance supervision
European investigators want to interview Lebanese governor
Magistrates investigating money laundering reports have interviewed two former deputy governors
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Papua New Guinea names new acting governor
Prime minister says previous acting head had served past legal limit for interim officials
BoE says rush to sell could undermine insurance stability
Supervisor questions whether some firms’ stress-test assumptions are “realistic”
Pakistan raises rates 100bp amid reserves crisis
Reserves now only enough to cover about three weeks of imports
Risk management staff earn many multiples of per capita income
Risk managers paid more in richest jurisdictions but poorer countries still pay competitive wages
Iraqi PM replaces governor after fraud drives currency fall
Dinar falls after US clampdown on dollar transfers following reports of massive fraud
Argentina and Brazil to begin studying common currency
Minister says countries are taking “first step” in project