Central Banks
BoE unveils new heads in monetary analysis and statistics division
Bank of England appoints three new department heads in its monetary analysis and statistics division; seen as a springboard to MPC
European Commission pursues Hungarian central bank independence issue
European Commission welcomes Hungarian promise to change legislation affecting the independence of the central bank, but wants to see more details
RBA hands over responsibility for autonomous financial sanctions
Reserve Bank of Australia no longer has regulatory responsibility for autonomous financial sanctions; Department of Foreign Affairs and Trade now handles implementation and administration of law
Bank of Estonia to reveal travel statistics gleaned from mobile positioning data
Estonian central bank has been using data from mobile phone usage for more than three years to assist with balance of payments calculation; only two other European central banks operate similar systems
Buba discussion paper uncovers secrets of board risk-taking
Researchers find board changes that result in more female executives at banks can lead to increased risk-taking; executives with PhD qualifications reduce risk
New CRD IV draft exempts sovereign trades from CVA capital charge
The latest council draft adds a CVA capital charge exemption for sovereign derivatives transactions – potentially removing one of the big unintended consequences of CRD IV, participants say
IMF’s Shinohara highlights Ethiopia’s economic challenges
Naoyuki Shinohara, deputy managing director of the IMF, says Ethiopia still has work to do on containing high inflation and raising savings, among other issues
Deputy governor renews Bank of Japan attack on Volcker rule
Kiyohiko Nishimura reiterates Bank of Japan’s concerns over unintended consequences of Volcker rule; says “prudent assessment” of potential impact of the rule on other countries is “crucial”
BIS working paper studies collateral requirements
Research estimates collateral requirements for mandatory central clearing of over-the-counter derivatives; finds major dealers already have ample assets to meet initial margin requirements
Czech National Bank unveils stress-test results
Czech banking sector prepared to withstand “significantly adverse stress scenario", says central bank
Australia leaves benchmark rate unchanged again
Reserve Bank of Australia decides to keep cash rate unchanged at 4.25%; follows surprise decision in February to do the same
Canada cracks down on Syrian central bank
Canada imposes asset freeze on Central Bank of Syria; foreign affairs minister reiterates demand that president Assad step down
Draghi defends high-value euro banknotes
Letter to MEP Nikolaos Salavrakos outlines reasons for having €200 and €500 banknotes
Boston Fed continues research into payments
Researcher Scott Schuh adds to 2010 research into payments; finds rising cost of debit cards reduces their use
RBI’s Khan discusses outward Indian FDI
Reserve Bank of India deputy governor speaks about globalisation and growing Indian outward foreign direct investment
IMF’s Min Zhu on macro-prudential policy implementation
Deputy managing director of the IMF opens conference on macro-prudential policies; says countries must address three “crucial issues” to make these policies effective
Tucker replaces Dudley as chairman of CPSS
Bank of England’s Paul Tucker to replace New York Fed’s William Dudley as head of international committee responsible for payments, clearing and settlements infrastructure
Former Venezuelan central banker joins board of commodities company
PetroMagdalena announces appointment of Central Bank of Venezuela veteran Nelson Ortiz as director
Dutch central bank warns on budget deficit
Netherlands Bank says “highest priority” is required for restructuring of Dutch public finances
South Africa must tackle capital flows ‘challenge’, says deputy governor
Sarb deputy governor says problems with capital flows in South Africa require “fresh thinking”; rand exchange rate fluctuations causing problems