Central Banks
MAS chief laments ‘data localisation’
Misguided notions of data security threaten digital growth, says Menon; central bank further strengthens fintech support
RBNZ launches review into collapsed insurer
CBL Insurance to be liquidated after failing to assemble rescue plan
Sarb reprimands HSBC for AML deficiencies
Central bank fines commercial lender over $1 million after weaknesses in AML detection and reporting were discovered
The euro: a troubled third decade?
Italy’s pact-busting budget highlights ongoing eurozone frailties
US academic likely to be next Bank of Israel governor
Amir Yaron likely to be appointed by Israeli cabinet but observer raises doubts about independence
New Zealand central bank keeps rates unchanged
RBNZ says policy must remain “supportive” as inflation remains below target mid-point
Fed will delay stress capital buffers, Quarles says
Vice-chair says Fed is looking to modify stress-testing methods
Housing bottlenecks could boost eurozone inflation – ECB paper says
Labour shortage, scarcity of building land, and administrative hurdles could limit supply
HKMA’s ‘e-wallet’ feature suspended weeks after launch - local media
“Autopay” feature of new payments system hit by fraud allegations; HKMA says security is robust
Fed holds rates steady
FOMC points to slowdown in pace of fixed investment
EU offers Iran sanctions relief with new clearing house
Iran retains access to Swift network despite US sanctions, but new clearing house could provide permanent loophole
Too soon for SNB to increase rates, board member says
Inflation is low and currency is strong despite economic growth, Maechler says
Three tricks to remove a troublesome Eurosystem governor
Eurozone authorities have learnt how to circumvent central bank independence – emboldened by feeble action by the European Commission
People: Sri Lanka’s central bank promotes two new deputy governors
Attygalle and Karunarantne become deputy governors, Kilponen to succeed Välimäki at Bank of Finland, IMF promotes representative in Argentina, and more
Riksbank to add Norwegian and Danish krone to reserves portfolio
Change responds to banks’ liquidity requirements in these Scandinavian currencies
Book notes: The Fed and Lehman Brothers, by Laurence Ball
Ball claims the Fed could have lent to Lehmans, lawfully and prudently, had it chosen to do so, writes Reddell. But agreeing the Fed could have provided liquidity support does not automatically imply it should have
Fed proposes further regulatory loosening for small firms
Governor Lael Brainard voted against the last proposed reductions in regulation
Immigrants smooth eurozone labour market shocks – Bank of Italy paper
Non-EU immigrants have higher mobility than Europeans moving between countries – researchers
Bank of Mexico opens second banknote printing plant
Existing facility has reached capacity and cannot keep up with banknote demand, says governor
BoE paper proposes fix for flawed rate expectation estimates
Model augmented with overnight indexed swap rates performs better, author says
ECB nominates Enria as next head of banking supervisor
Italian candidate likely to be accepted as next head of SSM