Central Banks
Remembering Charles Freeland
Charles Freeland, former deputy secretary-general of the Basel Committee and friend of Central Banking, died in 2017
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
People: Slovakia appoints new deputy governor
Iceland reappoints MPC member; FDIC names new director of minority and women inclusion, and more
IMF official backtracks on Kenya funding comments
Mikkelsen says Kenya has continued to have access to IMF resources “subject to policy understandings”
Fintech lenders increase efficiency of US mortgage lending, research says
Digital credit providers offer faster services, reliable risk assessments and flexible business models, New York Fed research finds
Bank of Korea unveils changes to its DSGE model
The existing model’s accuracy was reduced following structural changes in the economy
Greek governor accuses government of ‘outright lies’ over bribery allegations
Prime minister says he wants the truth, but Stournaras accuses government of deception
IMF stresses communication’s role in fostering stability
Neglecting its importance can lead to adverse reactions, such as misinterpretation of policies
Some ECB governing council members wanted softer QE language – minutes
Governing council members also cautious over future exchange rate movements
Philippines advances with policy implementation revamp
The Central Bank of the Philippines is looking to cut its reliance on reserve requirements and move towards an interest rate corridor
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects
US Treasury hones its bank resolution regulations
Treasury proposals look to overhaul Chapter 14 from the bankruptcy code to limit use of Orderly Liquidation Authority, while restricting FDIC powers
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation
Authorities need to deal with ‘limitations’ of global standards
The BIS’s Fernando Restoy says global standards do not cover all possible risks, and national supervisors need to fill in the gaps
MAS aims to move OTC derivatives trading to ‘organised market’
As much as 80% of interest rate swaps in Singapore would have to be executed on exchanges or other centralised trading facilities
ECB lacks power to investigate money laundering, Nouy says
Frankfurt ordered the shutdown of Latvia’s ABLV Bank after US Treasury accused it of illicit practices
Italian consumer lending more risk-priced post-2008 – paper
Institutions tightened lending to consumers based on household factors
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
‘Tilting’ building forces Seychelles central bank tenants to relocate
Central bank annex shows signs of “tilting” due to construction work nearby; tenants asked to immediately relocate