Central Banks
Danish central bank recommends security upgrade for payment systems
New cyber security measures, risk management rules and stress tests should be implemented
Sovereign debt crisis caused European firms to cut wages – DNB paper
Researchers say credit stress causes firms to reduce variable parts of wages
Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016
Carney defends communications approach as BoE holds
Central bank criticised for apparent U-turn on rate hike; governor says majority of people in the economy are “not fixated” on the timing of a hike
Bank of Israel files first civil lawsuit against counterfeiters
Counterfeiters already convicted of forging “tens of thousands” of the new 200-shekel note; central bank seeking €100,000 in compensation
RBA paper finds elusive interest rate-investment link
Authors present empirical evidence for inverse relationship between rates and investment
Global factor influences inflation volatility, Italian paper says
Researchers say inflation volatility correlates to oil inflation rates and Chinese producer prices
Danish regulator sanctions biggest bank for Estonian money laundering
FSA chairman resigns as Estonian regulators fail to comment on allegations
Atlanta’s Bostic concerned by ‘proliferation of models’
Regional Fed chief says more needs to be done to understand how machine-learning algos could contribute to a major shock
ECB awards $19.6 million treasury contract to Openlink
Central bank says treasury management system is a “mission critical” system; Openlink’s Findur platform will be implemented by 2019
CPMI puts forward strategy to tackle wholesale payments fraud
The Federal Reserve and the ECB welcome the proposal
Voluntary reserve targets can aid transmission – Fed paper
Voluntary targets could help central banks set policy more effectively
Argentina calls on IMF for help
President Macri calls upon the IMF for financial aid as peso depreciation continues; policymakers hold rates at latest meeting
US ‘normalisation’ should be manageable for emerging economies – Powell
Turkey and Argentina grapple with weaker currencies as US Treasury yields rise
RBNZ probes banks’ conduct after Australian inquiry reveals malpractice
New Zealand regulators express alarm over revelations from Royal Commission
Listening devices found at Central Bank of Curaçao and Sint Maarten
Board admits devices were found, but does not say who placed them
Fed’s Quarles backs light-touch regulation on machine learning
SEC’s “circuit-breaker” can act as model for regulating innovative tools – Fed vice-chair
‘Black box’ models present challenges – US regulators
US officials say they have some powers to assess AI tools, but resourcing is problematic
Irish central bank may force banks to act on gender diversity
Deputy governor Donnery says central bank may act if voluntary agreements do not work