Central Banks
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
People: Lautenschläger for ECB board; IMF's García set for Chile central bank
EU leaders nominate Bundesbank deputy, in charge of banking supervision, to take German spot on ECB executive; Chile's IMF director to join national central bank; and more
Yellen approved as Fed chairwoman
US Senate approves Janet Yellen as Federal Reserve's first female chair, in closest vote to date; adjusting unconventional policies to improving economic conditions ‘greatest challenge', says analyst
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
Singapore intensifies efforts to cut banknote waste
Monetary Authority of Singapore unveils a social networking campaign that encourages the public to refrain from giving brand new banknotes to each other at Chinese New Year
Philippines governor unperturbed by inflation surge
Amando Tetangco insists the inflation environment is ‘manageable’ despite annual CPI almost doubling in the past four months; central bank hits target for fifth consecutive year
Bernanke looks back on his time at the top
Fed chairman, who steps down on February 1, offers his take on an array of issues, including the long-term implications of asset purchases, central bank accountability and financial stability reforms
New York Fed's Dudley lists presidential attributes
The president of the New York Fed need not be an economist, says Dudley; they must, however, be open-minded, pragmatic and have a strong research team behind them
Flug turns Bank of Israel focus to financial stability
Central bank's 'workplan' for 2014 centres on financial stability reforms; governor tells Knesset that stress tests show banking system is strong, but operating efficiency remains low
Bank of Italy share capital revalued
Italian government revalues central bank’s share capital at €7.5 billion; ECB rebukes finance ministry for jumping the gun
SNB loses $16 billion on gold
The Swiss National Bank expects to report a loss of 10 billion dollars for 2013 as heavy valuation losses on its gold holdings outweigh forex gains and StabFund profits
US Fed heads debate slow growth ‘riddle'
Presidents of four regional reserve banks at odds over whether weak trajectory in wake of the financial crisis is inherently structural or cyclical
Lagarde warns of single currency ‘challenge’ in East Africa
IMF managing director Christine Lagarde tells the East African Community to learn from the genesis of other monetary unions across the globe
Kuroda draws on lessons from Paul Volcker’s Fed tenure
Bank of Japan governor Haruhiko Kuroda points to Paul Volcker’s success in lowering inflation expectations in the United States as proof of central banks' ability to influence markets
IMF urges full recapitalisation of Ugandan central bank
The Bank of Uganda was recapitalised by the government in June 2013, but further capital injections will depend on the central bank's ability to ‘streamline’ operational costs
RBI's Mohanty reviews policy through crisis years
India's central bank joined its counterparts around the world in using unconventional monetary policy to tackle the financial crisis, and the effects of Fed taper
Bank of Estonia staff pay rises will survive budget cuts
Staff members will receive average salary increases of 5% in 2014, even as the central bank strives to cut its budget by €830,000
People: Canada deputy retires; Tucker becomes Sir Paul
John Murray's retirement creates a deputy governor vacancy at the Bank of Canada; former Bank of England deputy Paul Tucker is knighted; and more
Reserve managers continue push into diverse currencies
Latest data from the IMF shows non-traditional reserve currencies continue to see their share of global reserve holdings grow; sterling, yen and the Swiss franc fall in favour
Chilean central bank puts rate cuts on pause
Minutes from the board’s December meeting reveal members were concerned about spooking markets and wanted to buy time to assess earlier easing
Dutch paper finds that bonuses are main cause of distrust in banks
Researchers at Dutch central bank find that banker bonuses have a greater impact on public trust than government intervention, stock prices and media reports
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Bank Indonesia hands supervisory powers and 1,150 staff members to FSA
Shake-up of bank supervision sees micro-prudential responsibilities transferred from the central bank to the financial services authority