Governance
RBNZ to cut costs despite need to implement major new projects
Central bank plans to cut costs and use resources more effectively following tighter funding deal; strategy includes payment systems upgrade, new banknote series and first stress tests
Bulgarian governor wants quick successor appointment to hasten his exit
Ivan Iskrov calls on parliament to elect a successor before the end of his term in October, bringing an end to a turbulent period in charge
People: Njoroge approved as new Kenyan governor; Tajikistan appoints new deputies
Kenyan parliament approves Patrick Njoroge for central bank governorship; president of Tajikistan appoints new central bank board; Sanusi Lamido Sanusi joins Black Rhino; and more
BoE launches ‘Bank Underground’ research blog
Blog provides platform for researchers to voice more controversial ideas; comes alongside rebranded staff working papers, written with ‘hands off’ approach from senior managers
Bank of Japan to shake up meeting framework
BoJ board plans to cut number of yearly meetings as part of major overhaul of deliberations aimed at making monetary policy more transparent
Bank Indonesia appoints deputy following rates hold
Head of financial surveillance Erwin Riyanto replaces Halim Alamsyah on board of governors as central bank warns of renewed capital flight
SEC chief sees potential in UK’s senior managers regime
Mary Jo White says she is ‘very interested’ in the UK's accountability regime, as part of a panel discussing the many pitfalls in changing bank culture; Martin Wheatley warns reform could take 10 years
PBoC top committee brings in seven fresh faces
China's central bank reshuffles top committee for second time this year, bringing in heavy-hitters from government and academia
BoE staff costs rose 6% in 2015, annual report shows
Growing number of senior staff added to central bank’s wage bill for the year; Mark Carney turned down pay rises but still received package worth nearly $1.4 million
Governor wants freer thinking at 65-year-old Bank of Korea
Juyeol Lee hints at coming shake-up, calling for openness to ‘creative ideas’ as central bank prepares to set new inflation target
Minneapolis Fed begins hunt for next president
Narayana Kocherlakota will join the University of Rochester on January 1; search committee is hoping to appoint a ‘strategic thought leader’ to succeed him by the end of the year
BoE appoints Andrew Hauser to new executive director role
Head of Fair and Effective Markets Review appointed to new executive director role with responsibility over balance sheet risks, payments and banking operations
IMF's Patrick Njoroge nominated as Kenyan governor
President picks IMF adviser Njoroge from a shortlist of five candidates, which included current and former deputy governors; name passed to parliament for vetting
People: Fed names payments director; Denmark appoints assistant governors
Federal Reserve chooses Gordon Werkema to lead its new payments strategy; Denmark promotes director of administration and adds second assistant governor; and more
New Zealand central bank facing 'paradox of transparency'
RBNZ-commissioned survey finds trade-off between transparency and certainty; reveals discrepancy between public and stakeholder trust
IMF urges Irish authorities to ‘enhance’ central bank independence
Report warns legal framework could ‘potentially introduce political considerations’ into governance arrangements; finds uncompetitive pay may be hurting ability to hire and retain supervisors
Blanchard to step down as IMF chief economist
Olivier Blanchard will leave in September and join Peterson Institute as senior fellow; Lagarde praises him for ‘spurring a fundamental rethinking of macroeconomic policy’
People: Sri Lanka and Paraguay name new board members
RA Jayatissa and Carlos Carballo Spalding join central bank boards in Sri Lanka and Paraguay respectively; UK firm VocaLink names new CRO
Alexandre Lamfalussy: 1929–2015
Those who knew him pay tribute to the former president of the European Monetary Institute and general manager of the Bank for International Settlements
Ugandan governor on road to recovery after falling ill
Emmanuel Tumusiime Mutebile treated in hospital after falling ill last week; now in South Africa for ‘medical review’ where central bank says he is ‘in good spirits’
Malta names Alfred Mifsud as deputy governor
Former chairman of Crystal Finance Investments joins the central bank as a deputy governor; he will ‘primarily’ focus on monetary policy during his five-year term
Early contenders emerge as Irish governor announces departure
Central Bank of Ireland governor announces intention to retire later this year, with a handful of names already surfacing as possible successors
Bank of Spain remodels in light of SSM
Executive commission approves a new structure for bank resolution and regulation, as well as changes to the central bank’s cash management functions
People: Malaysia appoints assistant governor; BoJ board member approved
Bank Negara Malaysia names Mohd Adhari Belal Din as assistant governor, while Marzunisham Omar takes office at the IMF; Japanese government approves Yutaka Harada as BoJ board member