Governance
New York Fed consultant slams bank's ‘intensely deferential' regulatory culture
David Beim, a Columbia professor who conducted confidential review into regulatory practices, says employees who speak out are ‘frequently hammered down' by supervisors
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties
Policy discussion makes up between 5% and 70% of central bank minutes, study finds
Report by Central Bank of Ireland shows great variation in scope and characteristics of minutes, with word count ranging from 600 to 13,000
Top EU court should dismiss UK bonus cap plea, says advocate general
Opinion rejects UK’s main legal challenge to EU bonus cap law and argues use of word ‘cap’ is misleading; UK Treasury says opinion ‘demolishes’ case for fixed ratio
The ECB's approach to central banking without data borders
Data sharing and access to confidential information – on a need-to-know basis – remain a legal, cultural, technical and organisational challenge at the ECB and elsewhere, writes Aurel Schubert
Dallas Fed president Richard Fisher to step down March 19
Fisher is the second recent dissenter on the FOMC to leave in less than two months; Was required by law to step down before April 30
EU court throws out Syrian governor’s sanctions challenge
Adib Mayaleh will remain under EU sanctions after court rejects his challenge to restrictions imposed in 2012; Central Bank of Iran court case ongoing
People: Mark Carney reappointed as FSB chair; Bank of Portugal names new head of supervision
Governor of Bank of England gets second term as chair of the Financial Stability Board; Bank of Portugal appoints three new people in banking prudential supervision department; and more
People: Thomsen named head of IMF’s European department; Former deputy finance minister joins CNB
Poul Thomsen gets post on full-time basis after leading Fund’s programmes in Greece and Portugal; Radek Urban heads resolution department at Czech National Bank; and more
Lagarde rejects internal criticism of IMF austerity push
Independent Evaluation Office report out today concludes Fund's calls for fiscal consolidation in 2010-11 were ‘premature'; managing director says they were the ‘right call'
Argentinian MP tries to block new central bank governor
Leader of Argentinian opposition party files request to stop appointment of new central bank governor, saying he is ill-suited for the role and will be a ‘tool’ of the government
People: Poland names new vice-president; Riksbank general council appoints new chair
Anna Trzecińska returns to National Bank of Poland as vice-president; Riksbank general council elects Susanne Eberstein as chairman; and more
IMF paper suggests solutions to collective action problems
Working paper says difficulties in achieving cooperation when tackling global risks are surmountable; suggests taking ‘incremental steps’ and ‘realigning incentives’
Bank of Mauritius governor hails ‘rejuvenated’ staff
Rundheersing Bheenick says new hires and the creation of ‘director of technology’ position help the central bank keep abreast of rapid technological progress in the banking sector
Sarb launches investigation into forex traders
Central bank joins growing list of regulators concerned by potential for misconduct among foreign exchange market practitioners
Bailey accuses EBA of comms blunder
BoE deputy says EBA ‘incorrectly transmitted’ the news that its vote on an opinion regarding bonus caps had been unanimous - as he voted against it
People: Mexican deputy gets second term; Paraguay names new director
Mexican president reappoints Legaspi as deputy governor of Bank of Mexico; Central Bank of Paraguay promotes legal unit manager to director; and more
Failure to improve culture will be punished, say Dudley and Tarullo
Fed officials say banks that fail to improve culture will face regulatory sanctions, including the possibility of being ‘dramatically downsized and simplified’
ECB taking minutes leak ‘very seriously’
Quotes from governing council discussions between May 2012 and January 2013 appear in press; reveal Jens Weidmann’s concerns over ELA provided to Cypriot bank
BoE’s Bailey slams European bonus caps
Deputy governor expresses ‘dismay’ at debate that misses what he sees as key points in designing appropriate incentives; points to flaws in Basel capital standards
Riksbank gets new general council
Sweden's parliament names a new general council - the body is composed of MPs and tasked with overseeing the governance of the central bank
Central Bank of Brazil staff stage fifth walkout this year
‘Technical workers’ are seeking to defend their roles, which they feel are increasingly being handed to over-qualified ‘analysts’; Central bank says strike is not affecting its core activities