Central Banks
RBI launches ‘advanced’ new RTGS system
New platform expected to ‘significantly’ boost efficiency, and thought to be first ISO 20022-compliant RTGS system; Rajan says it keeps central bank a step ahead of financial markets
Bank of Israel saga comes full circle with Flug nomination
Prime minister relents and nominates Stanley Fischer’s deputy as the next central bank governor; Karnit Flug’s first act is to appoint research head Nathan Sussman to the monetary committee
Malaysian deputy says ATM network can drive e-banking adoption
Muhammad bin Ibrahim urges banks to go to greater pains to educate their customers in the benefits of e-banking; says ATMs are important means of making electronic transactions
RBA’s Ellis warns against regulatory ‘monoculture’
Reserve Bank of Australia’s financial stability head says regulatory consistency is ‘important’ but should not result in identical business models that could all be vulnerable to one particular shock
RBI director says better management of data to help banks with regulatory compliance
Shri Padmanabhan argues uniform reporting standards for data collection would reduce reporting burden, ease validation, and improve overall efficiency of banks
Bailey sets resolution criteria for foreign banks' UK branches
Bank of England’s Andrew Bailey says foreign banks will not be able to operate branches in the UK if their home regulator’s resolution regime is not up to scratch
De La Rue launches post-grad scholarship with Central Bank of Barbados
One year's funding worth $17,300 on offer for a Barbadian student pursuing post-graduate studies in economics or finance mimics similar programmes elsewhere in the Caribbean
Central Bank of Chile cuts interest rates for first time in 18 months
Central bank cuts rate 25bp to 4.75%, amid slowing demand growth and below-target inflation; analyst says inflows, not outflows, biggest concern despite current account deficit
Fed's Fisher slams ‘fiscal misfeasance’ of US government
Dallas Fed president urges American politicians to show some leadership and put the US on a more sustainable fiscal path; Cleveland Fed researchers say shutdown will damage inflation estimates
Praet says household heterogeneity key to understanding transmission mechanism
New Household Finance and Consumption Survey can bring new insights into how individual households are affected by economic shocks, says ECB chief economist
IMF paper sets parameters for model short-term real interest rate
Working paper sheds light on a ‘crucial' but overlooked question - and shows that the elasticity of interest rate volatility plays a crucial role in explaining real interest rate dynamics
Madagascan deputy steps up to top job
Vonimanitra Razafimbelo appointed acting governor, just over a month after her predecessor Guy Ratovondrahona died; appointment comes a week ahead of presidential elections
BIS' Caruana identifies ‘new' threats to central bank credibility
Central bank independence is under pressure from unprecedented monetary policies, says BIS manager; argues banks' ‘credibility in fulfilling their mandates' is at stake
Fed’s Beige Book reveals ‘modest’ employment growth
Summary of the economic conditions across the 12 Federal Reserve districts finds both employment and economic activity were ‘modest’ in September, while price pressures were ‘limited’
Swedish policy-makers clash on mortgage risk weights
Heads of Sveriges Riksbank and Swedish Financial Services Authority disagree over where to set the risk-weight floor on mortgages
ECB seeks head of new human resources office
Recruitment and operations section will be responsible for recruitment and ECB employees' contracts, salaries, and benefits; overhaul comes as ECB gears up for SSM implementation
BIS publishes data disclosure standards for CCPs
CPSS and Iosco set requirements for which quantitative data central counterparties should release and when; aims to increase transparency around the risks associated with them
BoE breaks ground with live Twitter Q&A
Bank of England chief economist Spencer Dale will answer questions on monetary policy and forward guidance through the central bank’s Twitter account tomorrow morning
CNB's Lízal sets out case for forex intervention
The use of forex interventions to ease monetary conditions in an open economy is a rational choice at the zero lower bound, Czech National Bank board member tells finance conference
Fiscal profligacy biggest threat to central bank independence, says Dudley
Netherlands Bank president Knot is concerned by the possibility of negative capital in central banks, but New York Fed's Dudley says the sustainability of national budgets is a bigger problem
Cyprus finance minister says governor Demetriades is 'under scrutiny'
Harris Georgiades says expanded central bank board will improve governance; argues banks will succeed in raising equity as capital controls are lifted