Central Banks
CPMI adds three new members
All G20 members and more emerging markets are now represented
Saudi Arabia confirms $2 billion transfer to Yemen’s central bank
Yemeni government said to demand payment of all revenues to Aden-based central bank as famine and war continue
FSB: cryptocurrencies too small to be major threat
Limited links to real economy imply crypto assets may avoid regulatory crackdown for now; work continues on consumer protection
Populism challenges central banking independence, Bruegel says
Brussels-based think-tank gathers various works on the matter; overdue debates on inflation targeting could open
Sarb launches its first app-based quarterly bulletin
User feedback reveals current format is cumbersome and “static”; central bank partners with external firm to create new app
China picks Yi Gang to lead PBoC
US-trained Yi is viewed as a pro-market reformist, who has worked under his mentor Zhou Xiaochuan for two decades
Stock imbalances can stabilise or destabilise – BIS paper
Asymmetry implies burden of adjustment tends to fall on deficit countries
BoE changes stress test framework but keeps scenario the same
Stress tests will attempt to gauge impact of IFRS 9
Bank of Israel profits from rising equities – market operations director
Andrew Abir says Israeli central bank has benefited from rising US equities
Norway maintains countercyclical capital buffer at 2%
Norges Bank advises the government not to reduce the buffer because of high household debt
Re-pricing of assets could dampen global recovery, RBA deputy warns
Debelle says equities may be mispriced and says interest rates show “puzzling” features
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
PBoC set for new governor
President Xi Jinping’s adviser Liu He widely expected to be named next PBoC governor
Yakiv Smolii confirmed as Ukrainian governor
Interim governor voted in as permanent head after 10 months
ECB publishes updated NPL guidance
Central bank recommends stricter framework than European Commission
SNB struggles to end ultra-loose policy regime
The Swiss central bank’s hopes of normalising policy are being held back by weak expectations, a strong currency and policy actions abroad
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation