Central Banks
Cash is here to stay – SNB’s Zurbrügg
SNB official says reports of cash’s “death” are “exaggerated”; central bank has no plans to stop printing banknotes as its popularity remains
Norway’s oil fund delivers strong returns in 2016
Fund enjoys nearly 7% growth, with strong equity performance leading the way; strategy envisages work to improve efficiency and overhaul investment platform
Fed needs quarterly monetary policy report, Bullard says
St Louis president argues for better Fed communication when it comes to monetary policy decisions; a quarterly report would align the US with international best practice
Ukraine central bank: governor is not considering resigning
Local reports say Valeria Gontareva wishes to step down; NBU gives first custodian contract to commercial bank
Barbadian finance minister thanks Worrell, despite sacking him
Sinckler says government will “eliminate reliance" on central bank financing; gives Worrell lukewarm thanks for his time as governor
Hogg stresses readiness to resist groupthink at BoE
New joint deputy and COO says she is willing to stand up to Mark Carney after committee chair flags risk of “over-mighty governorship”
EC: regulators could adapt rules to protect bond liquidity
Official recognises regulatory hit to corporate bond and repo markets, but rejects Mifid delay
Bank of Italy paper looks at impact of monetary policy shocks
The impacts of eurozone and US shocks have diverged since the onset of the financial crisis, the working paper says
Sri Lankan finance minister accuses former governor of fraud
Ex-president and former central bank governor are both accused of “fraudulent management of public debt”
BoE paper raises risk of ‘bubbly growth traps’
Asset bubbles can direct resources to low-productivity sectors, which could explain the long hangover from recent crises, author says
MAS forms council to toughen corporate governance code
Ageing code of corporate governance needs to be updated to reflect best practice, authority says; chairman notes pressure on companies to become more transparent
BIS creates DLT analytical framework for central banks
CPMI working group lays out important questions for central banks when implementing distributed ledger tech for payments and settlement; access is a key concern
People: CBRC gets new chair; Colombian board member appointed
Veteran official takes top job at Chinese banking regulator; Gerardo Hernández Correa joins Colombian central bank; appointments at ESM and Czech National Bank
Sarb’s Mminele concerned about ‘geopolitical risks’
Anti-globalisation and protectionist rhetoric are at the top of the deputy’s list when it comes to risks to the South African economy this year; Brexit negotiations also a concern
Worrell fired from Central Bank of Barbados
Finance minister removes governor from post after court battle; deputy appointed by the board to serve as new governor
Bundesbank official: Don't count on ‘economic sanity’ in Brexit talks
Equivalence agreement is “not a reliable substitute” for passporting, but the UK should have an interim regulatory arrangement, Bundesbank’s Andreas Dombret says
ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
Italian paper tracks spreads on eurozone corporate bonds
“Fragmentation” has begun to decrease following ECB’s use of QE, researcher says
Tax cuts affect bank leverage and liabilities – BIS paper
Tax cuts have different effects on different banks, authors find; better-capitalised banks increase their assets, while weaker ones clean up their balance sheets
External review of the RBA to begin next month – Lowe
Governor tells MPs the central bank wants to identify opportunities for improvement; assessment will look into operation and administration, not policy framework
IMF stays tough on debt relief as it prepares to return to Greece
Maurice Obstfeld and other top officials stress the fund’s demands on debt sustainability; mission to return to Greece next week
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month