Governance
Egyptian governor to resign early with former deputy waiting in wings
Hisham Ramez, governor of Egypt’s central bank, announces early resignation; successor urged by country’s President to ensure citizens have access to ‘basic goods’ after subsidy cuts
Lane picked to lead Irish central bank
Distinguished international economist nominated in preference to civil service candidate rumoured to have been in the running; worked ‘closely’ with outgoing governor Honohan
Carney treads carefully amid potential threats to BoE independence
Governor expresses concern over the National Audit Office's role in the new Bank of England Bill, but dismisses fears he is harming free debate by chairing too many committees
Bullard offers alternatives to cutting reserve bank dividend
St Louis Fed president takes issue with congressional proposal to cut dividend paid to largest banks; suggests tying amount paid to benchmark rate instead or eliminating it completely
Polish governor criticises five presidents’ report
Marek Belka says proposals contain ‘some good ideas’ but are ’timid and vague’ about what should be done in the longer-term; speaks alongside Ewald Nowotny at Warsaw conference
ECB appoints Michael Diemer as first chief services officer
The European Central Bank has created a new post of chief services officer to co-ordinate all administrative, IT and human resources issues
Kenyan and Ugandan central banks act over troubled bank
Central Bank of Kenya places Imperial Bank under new management after being notified of ‘unsafe and unsound’ conditions; Bank of Uganda moves on local subsidiary
Ex-Albanian governor acquitted of ‘abuse of office’
Former Albanian central bank governor Ardian Fullani found innocent of ‘abuse of office’; left role in 2014 after parliamentary vote
BoE’s new MPC member grilled on financial assets
Treasury Committee questions Gertjan Vlieghe on real or perceived conflict of interest; Ian McCafferty justifies view on rate hike in reappointment hearing
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
ECB publishes principles to avoid market-moving missteps
‘Guiding principles’ for communications by executive board members seek to prevent select groups gaining a commercial advantage from appearances
Economists push IMF reforms back into spotlight
Indian economists make case for ‘more radical’ review of resource and representation in the future; Nordic and Baltic countries press for ‘interim steps’ towards delayed 2010 reforms
Irish central bank proposes staggered rise in financial industry levy
Ireland’s central bank has proposed staggering a rise in the levy to cover financial regulation costs; still supports rise in proportion of costs paid by non-bank institutions
Trichet says banks must keep ‘hammering’ at their culture
Progress towards improving culture and behaviour at banks is uneven, and the G30 is calling on the laggards to catch up; Central Banking asked members what still needs to be done
Irish central bank may spread higher levy on finance industry over time
The Central Bank of Ireland may spread the proposed increase in its annual levy on the financial industry over several years, but it still backs the call for non-banks to meet 100% of costs
People: FCA names COO; RBA shuffles assistant governors
Financial Conduct Authority announces Georgina Philippou as COO; Michele Bullock named assistant governor for business services in Australia; and more
Moldovan officials attack use of central bank as 'scapegoat'
Governor and first deputy of Moldova's central bank attack 'attempts at a government level' to delay banking investigation; will remain in place for three months 'unless replaced'
Moldovan governor and first deputy resign as banking scandal intensifies
Governor and first deputy resign but will stay on to assist incoming IMF team; Dragutanu attacks local politicians for handling of ‘loss’ of an estimated $1 billion from commercial banks
People: Philadelphia Fed appoints new supervision head; Bank of Russia takes on HSBC economist
Philadelphia Fed announces William Spaniel as head of supervision, regulation and credit department; Alexander Morozov joins Bank of Russia as head of research and forecasting; and more
Mexican governor granted second term on board
Carstens set for reappointment as governor after securing second term on board; his first term is widely viewed as a success, with one economist highlighting stable inflation
French economists protest against choice of central bank governor
One hundred and fifty French economists publicly question whether François Villeroy de Galhau faces conflicts of interest as central bank governor
People: Top EBA officials backed for new terms; Philadelphia Fed first VP to retire
Andrea Enria and Adam Farkas handed new five-year terms by EBA’s board of supervisors; Philadelphia Fed announces Blake Prichard will retire early 2016; and more
BoE Court chair ‘uneasy’ about government audit plans
Anthony Habgood concerned by ‘potential threat’ to the Bank of England’s independence in setting policy from handing the National Audit Office the power to conduct ‘value for money studies’
Former COO of BNP nominated as Banque de France governor
François Villeroy de Galhau picked by French president to succeed Christian Noyer as central bank head; past experience includes BNP Paribas and French treasury