Central Banks
Norges Bank organisational changes geared towards better investment
Revamp of organisational structure is mainly focused on improving the governance of the sovereign wealth fund, which delivered a return of 2.7% despite turbulence last year, annual report reveals
European supervisors must improve consistency on capital requirements, Angeloni says
European regulators must take more consistent approach to capital requirements, Ignazio Angeloni says; authorities have to improve macro-prudential policy co-ordination
FPC members deny charges of 'groupthink'
Clara Furse and Richard Sharp argue debate is robust and give examples of where they have challenged the financial policy committee’s majority views; agree to consider issue further
Canadian public put forward women for spot on new banknote
Bank of Canada to launch new polymer banknote in 2018 featuring an “iconic” Canadian woman; Nellie McClung announced as first nomination
BoE’s Bailey dismisses ideas for radical banking overhaul
PRA chief stands by the current design of banking regulation, rejecting more radical options involving higher levels of equity as “just not practical”
Paper finds evidence in favour of ‘exchange-rate-anchored inflation targeting’
A working paper published by the IMF finds ‘tight management’ of the exchange rate can help support inflation targeting in ‘less developed countries’
Jamaica successfully restarts bond market, governor says
Government debt issuance in February was oversubscribed; Wynter hopes surplus liquidity will continue to increase, helping to accommodate ‘crowding-in’ of private investment
Bank of Portugal director responsible for banking supervision resigns
Board member with responsibility for banking supervision resigned on March 7; Antonio Varela had previously been state-appointed non-executive director on troubled bank Banif
Brainard warns of segmentation of liquidity
Recent changes in liquidity practices may heighten financial markets’ vulnerability in stressed conditions, Brainard says; downward pressures on inflation remain, she adds
RBA’s Lowe says productivity still a problem
Australia has proven resilient through an uncomfortable rebalancing phase, but the economy is still plagued by disappointing productivity growth, deputy governor says
NY Fed says ‘no evidence’ systems breached
Spokeswoman says there is “no evidence” of attempts to penetrate Federal Reserve systems, amid reports saying Bangladesh Bank was concerned funds were stolen from its account
Slovakian central bank boosts provisions for financial risks
National Bank of Slovakia records gross profit of €144.6 million in 2015, as both income and operating costs fall
People: New York Fed research head retires, RBNZ appoints new head of currency
James McAndrews will leave the Federal Reserve Bank of New York after 19 years; Steve Gordon gets new portfolio at RBNZ; and more
BoE’s Brazier values flexibility with bank buffers
Alex Brazier says Bank of England will have a bias towards ‘acting early and gradually’ on capital buffers; will not look for “irrefutable proof” of bad events
Carney locks horns with MPs on EU stance
Bank of England maintains neutral stance on the issue, despite coming under fire from members of the committee; Carney and Cunliffe defend independence
BIS paper: short-term interest rate may no longer be enough to set policy
Globalised debt markets, the falling long-term interest rate and dollar debt accumulation has altered every major aspect of the monetary transmission mechanism in emerging markets, authors say
Bundesbank publishes data on German ‘closed-end’ investment funds
Deutsche Bundesbank begins publishing data on German ‘closed-end’ investment funds; sector had total assets of €82.4bn in January 2016, with nearly half of investments in property market
Angola appoints new governor as de Morais departs
Silva takes over from de Morais as part of a government reshuffle; has previously provided counsel to country’s vice-president