Financial Stability
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
Bank of England promises diversity on new polymer banknotes
Public consultation revealed 87% of Brits in favour of switching to polymer banknotes; Bank of England also unveils a new system for selecting historical characters to feature on its notes
Bank of Tanzania launches financial inclusion framework
East African country is aiming for 50% formal financial inclusion by 2016, up from 22% today; strategy will tackle supply side, demand side and structural obstacles
Liquid liabilities to become more expensive as a result of Basel III, says RBA's Debelle
New liquidity rules will make liabilities with less than 30 days to maturity more costly for banks to provide, making it a more expensive liquidity service for customers to obtain, says RBA assistant governor
FDIC's Hoenig says government backstops remain 'generous subsidy' for big banks
The competitive inequities that result from too big to fail remain mostly unaddressed, Hoenig says; calls for separation between commercial banks and broker-dealers
Government intervention shielded Korea from global credit crunch
Paper by Bank of Korea and IMF economists argues external buffers such as foreign reserves and swap agreements means the country is in good shape to weather global financial turmoil
Danièle Nouy confirmed as chair of SSM supervisory board
Top French supervisor formally appointed after ECB nomination and European Parliament approval; first job will be to agree on her deputy, to be chosen from ECB executive board
ECB launches online competition to familiarise citizens with new €10 banknote
Players have to uncover four security features and also guess the number of euro banknotes in circulation in the euro area on December 31, 2013; new note unveiled on January 13
Estonian governor says ECB supervision poses Nordic and Baltic challenge
The direct supervision of banks operating in the eurosystem but headquartered elsewhere will create 'new challenges' for Nordic and Baltic co-operation, according to Ardo Hansson