Central Banks
Bank of Spain administrators file for Banco de Madrid bankruptcy
Spanish central bank announced today Banco de Madrid has filed for bankruptcy after a large withdrawal of funds ‘affected its ability to meet its obligations in a timely manner’
Iceland expects ‘significant’ progress in lifting capital controls this year
Healthy economy and sturdy banking system pave way for lifting of capital controls, but risks are 'tilted to the downside', IMF report says; central bank at a ‘difficult juncture’
BoJ’s easing boosts inequality, warns IMF paper
Working paper finds attempts to meet Japan’s 2% inflation target are increasing income growth and inequality; calls for structural reform to make this growth more inclusive
Bank Negara Malaysia expands MPC
Two external members, Yeah Kim Leng and Noor Azlan Ghazali, to join policy committee for first time on April 1, taking total number of members from eight to 10
Norges Bank faces ‘ripple effects’ from oil price collapse
Norway heading in opposite direction to generally favourable global trend, central bank’s annual report warns; banking sector profitable and resilient nonetheless
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Finnish paper: DSGE model with shadow banks sheds light on China
Bank of Finland discussion paper models Chinese monetary policy transmission using a DSGE model augmented with shadow banking and interest rate controls
IMF staff want ‘clear mandate’ for next Bulgarian governor
Statement at close of latest Article IV with Bulgaria outlines policies for restoring supervisory credibility in the wake of the failure of the country’s fourth-largest bank
Bank of Latvia establishes first overnight clearing cycle
New cycle will accelerate processing of retail payments submitted late in the day and comes with an upgrade to business continuity that should see fewer payments rejected
Standard stress tests could create more risk, CCPs warn
CPMI and Iosco aim to develop a standard stress test for CCPs, but market participants say the devil will be in the detail
Nalm Europe: Markets may be struggling to digest news, warns BoE’s Salmon
Liquidity droughts and high volatility seem to be increasingly common – not necessarily problems in themselves, but the threat of contagion is becoming a concern, BoE markets director says
Security at Bank of Albania improved in wake of theft
Governor Gent Sejko insists security at the central bank is ‘at the right levels’ following the $5.2 million theft from its vaults last year; calls for vigilance from staff members
Central Banking awards 2015: photo gallery
Jacques de Larosière was the 'guest of honour' at the Central Banking awards, which saw Raghuram Rajan, Reserve Bank of New Zealand, Sarb, Czech National Bank and Bank of Canada taking top honours
Zeti argues ringgit is ‘undervalued’ but rules out dollar peg
Bank of Negara Malaysia governor rules out pegging the ringgit to the dollar, but revealed she considers the currency to be ‘significantly undervalued’
Nalm Europe: Scope for improved risk modelling, says RBNZ’s Bascand
Central bank has already gone some way towards revamping its financial management but there is ‘scope to improve further’, deputy governor tells Central Banking conference in London
IMF paper sees lower inflation boosting Indian savings
Working paper says a ‘sustained reduction in inflation’ would help create interest rate environment necessary to boost corporate profitability and encourage household savings
Central Bank of Brazil sees inflation gathering pace
Progress made in the fight against inflation is not yet ‘sufficient’, according to minutes from monetary policy committee meeting last week
BoE agents shift perspective towards shadow banking
Role of central bank agents shifts towards financial stability and brings particular benefits in tracking the rise of non-bank finance, shows BoE quarterly bulletin
Carney confident of returning inflation to target in two years
BoE governor sees risk that global low inflation and strength of UK currency could weigh on prices for ‘some time’, but is confident the central bank is ‘on track’ for 2% inflation
Won at 20-month low following record BoK rate cut
Korean central bank cuts benchmark interest rate to 1.75%, an all-time low, amid slowing growth and inflation; euro weakness 'a consideration' posits analyst
Kenyans invited to apply for central bank governor job
Next Central Bank of Kenya governor to be chosen by president after advert for job published yesterday, inviting Kenyans to apply for role