Governance
ECB says draft Croatian law could harm central bank independence
Proposals would give state auditor “undefined powers” over central bank, ECB says
Last stand for central bank independence?
Political attacks on Janet Yellen and Mark Carney appear to be just the start of a sustained assault on central bank independence. It’s a battle the central bankers may lose
SBP looked to boost staffing and IT capabilities in past year
Annual report details HR, IT and cyber initiatives as part of broader effort to build capacity
People: Furse leaves BoE FPC; Bank Negara appoints sharia advisors
Furse leaves BoE for new role at HSBC; shariah advisory council appointed for new term at Bank Negara Malaysia; and more
Carney to be grilled on exit timing
MPs plan to question Mark Carney on how, for a second time, he has managed to circumvent UK law designed to fix the length of a Bank of England governor’s term
Carney will remain at BoE until 2019
BoE governor chooses to extend term at central bank an additional year amid intense speculation as to his future, though he stops short of a full eight years
People: Ukraine promotes Smolii to first deputy governor and appoints two new deputies
Banking supervision chief and human resources head join central bank’s board
Ukrainian central bank council holds first meeting
New body has extensive powers over monetary policy and governance; NBU cuts rates for the fifth consecutive time this year
Central Bank of Curaçao and Sint Maarten files anti-corruption raid complaint
Central bank questions legal basis for raid and seizure of documents; investigation into alleged tax avoidance by governor Emsley Tromp continues
Ukrainian central bank attacks leading law-maker as political dispute worsens
Central bank governor backed by the ‘reform council’ and the IMF, but the president’s stance unclear
Chile’s Vergara to pass torch to Marcel
Mario Marcel is chosen to become the next central bank governor when Vergara’s term ends in December; Marcel has experience at the World Bank, OECD and IDB
Carney: I will stay ‘as long as I can’
Carney says the decision to stay or go will be “entirely personal”; Bank of England governor says central bank will not “slavishly rely” on QE
People: IMF appoints new head of Independent Evaluation Office
Iceland names director of financial stability and Russia appoints head of banking regulation
‘Hard’ law not enough to reform banking culture, says BoE’s Shafik
Market participants must do their bit to reform behaviour and culture in the financial services industry with ‘soft’ law playing a broader role, says BoE deputy
Ukrainian central bank says proposed law is attack on its independence
Passing law could lead to a cut-off of IMF aid, the central bank warns; calls on country’s president to repudiate law-makers
Lack of diversity is holding Fed back, says San Francisco president
Diversity critics have given the central bank the “kick in the pants” that was needed, said Williams, whose Fed branch is already making institutional changes to foster diversity
Sarb governor underlines bank’s operational independence
The government cannot ‘dictate’ interest rate policy, governor Kganyago says, emphasising the South African Reserve Bank can implement ‘appropriate policy’ without political interference
Sri Lanka sets up enforcement unit after insolvency failures
Central Bank of Sri Lanka sets up new enforcement branch after unsuccessful attempt to restructure four failing financial institutions; legal action to be taken against Entrust Securities
Pelaelo to take over as Bank of Botswana governor
Deputy has risen through the ranks and will replace Linah Mohohlo on October 20; president announces his decision through social media
Asia’s longest-serving governor to step down
Perng Fai-nan says he will retire as governor of Taiwan’s central bank when his fourth term ends in 2018 following two decades of strong currency and financial stability management
People: Finland appoints two central bank board members; Atlanta Fed promotes senior managers
Former European Commissioner Rehn joins Finnish board; Atlanta Fed makes four promotions; Switzerland changes regional delegate
BoE officials admit need for clearer communication
Mark Carney joined by deputies and COO at bank’s latest open forum, fielding questions from the general public; concerns surrounding funding for small enterprises and the bank’s rhetoric addressed
EBA sets out 2017 work programme
Authority will undertake “re-prioritisation exercise” after European Commission does not meet full staff request
Sarb establishes anonymous whistleblowing hotline
New external hotline provides facility for the public to report misconduct to the central bank