Governance
Irish central bank defends retention payments to key staff
Ireland’s central bank has defended its decision to pay retention payments to key members of staff despite criticism by local politicians; a senior civil servant will look into the payments
Hungarian central bank buys controlling stake in Budapest stock exchange
Hungary’s central bank buys 68.8% share in country’s stock exchange, saying the move was necessary to ensure adequate flows of capital to domestic businesses
Canada looks for new deputy as Côté prepares to stand down
Bank of Canada begins search for deputy governor, stressing importance of experience using macroeconomic models and communicating views
Egyptian presidency picks deputy governors and board members at central bank
President el-Sisi appoints a new deputy governor and three new members to Egypt’s central bank board, while one incumbent deputy receives a second term
Al-Wazir reflects on eight tough years at the PMA
After two terms leading the Palestine Monetary Authority, Jihad Al-Wazir tells Daniel Hinge about his efforts to manage operations in a warzone and improve the central bank against the odds
Shawwa succeeds Al-Wazir as Palestine governor
Azzam Shawwa set to take over as Palestine Monetary Authority chief as Jihad Al Wazir’s eight years at the helm draw to a close
Post-conflict central banking
Building the integrity and operational soundness of central banks is a vital priority for post-conflict countries.
The Islamic liquidity facility conundrum
The rapid growth of Islamic finance could undermine both financial stability and monetary policy if central banks do not set up sharia-compliant facilities
Book notes: Banking Reform in Nigeria, by Yomi Makanjuola
A gripping read, starting with Sanusi Lamido Sanusi's leadership of the Central Bank of Nigeria in 2009
Neel Kashkari to head Minneapolis Fed from 2016
Federal Reserve Bank of Minneapolis reveals Neel Kashkari will succeed Narayana Kocherlakota as president; past experience includes oversight of Troubled Asset Relief Program
CNB’s Miroslav Singer on transparency, China and Basel III
The governor of the Czech National Bank speaks to Christopher Jeffery about transparency challenges, lifting exchange controls, China's slowdown and flaws in Basel III.
Yellen would ‘welcome’ vice-chair of supervision
Fed chair says an appointment to the long-vacant post would be welcome, but stresses the ‘outstanding job’ board member Tarullo has done leading work in the area
People: Finland names new head of statistics; RBI appoints executive director
Bank of Finland promotes head of macro-prudential analysis division to head of financial stability and statistics department; RBI gets new executive director; and more
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
BoE’s Bailey stresses need for true understanding on boards
Andrew Bailey says executive board members should be responsible for explaining complex matters in simple terms, rather than leaving non-executives to figure it out for themselves
Kazakhstan governor replaced with former deputy
President removes Kairat Kelimbetov from office citing lack of confidence in central bank and falling currency; names former deputy Daniyar Akishev as succesor
Mandate change proposal would be unconstitutional, Polish governor says
Bank governor says giving the central bank a growth mandate would not be permissible under EU law; senior figures in governing party call for monetary easing programme
Central Bank of Barbados continues digital drive
Central bank publishes its economic review in video format as part of an ongoing digital drive; governor DeLisle Worrell is driving force behind digitisation
Bernanke offers insight into Fed’s political balancing act
Former Fed chair tells of navigating both political and economic pitfalls in crisis response, and says the US central bank’s independence is still under threat
Hungarian central bank to bid for country’s stock exchange
Hungary’s central bank is in talks with Austrian banks to buy a majority shareholding in the country’s stock exchange
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