Central Banks
Coen appointed new Basel Committee secretary-general
William Coen takes over Basel Committee secretariat after seven years as deputy; Wayne Byres leaves to head Australia’s prudential regulator
Bank Indonesia sets sights on regional inflation
Indonesia’s central bank signs MoU with government to signal greater focus on regional price stability, as it looks to shackle high levels of inflation
Bulgarian National Bank selling 64 tonnes of scrap coins
Bulgarian central bank set to sell 64 tonnes of defunct old coins to the highest bidder, who will melt them down for scrap
Riksbank deputy leads defence against Svensson critique
Vice-governor one of several heavyweights, including former governor and Nobel Foundation head Lars Heikensten, to take on Lars Svensson, who blames the bank for causing unemployment
People: RBI executive director retires; top law award for Zambian deputy
G Gopalakrishna retires after 33 years with the RBI; Zambia's Tukiya Kankasa-Mabula recognised for legal achievements; and more
Bar should be lowered for early warnings on currency crises, says IMF economist
Currency crisis early-warning systems should err on the side of flagging up more crises rather than less, even if this leads to an increase in false alarms
Predictive text: Bank of Lithuania prepares to announce euro adoption by SMS
The Bank of Lithuania strikes a deal with mobile operators to text their customers if and when the EU Council names the country as the 19th member of the eurozone
New governor aims to restore trust in Bank of Korea
Juyeol Lee will seek a ‘rebirth' of the Bank of Korea as a central bank that is ‘trusted by the Korean people'
Central Banking will return on April 22
Central Banking Daily News and the Central Banking Daily Briefing are closed from Friday, April 18, until Tuesday, April 22
Finland's 'deep structural crisis' must be addressed, Liikanen warns
‘Decisive action’ is required to tackle a ‘deep structural crisis’, now that attention has shifted from problems in the eurozone, Liikanen writes in the Bank of Finland's 2013 annual report
Bonnici says Malta's economy weathering European storm
Central Bank of Malta governor says economy has been performing well despite the difficulties posed by eurozone weakness, with a strong banking sector and above-average profit for the central bank
ECB launches programme to prepare Balkan central banks for EU
Macedonian, Albanian, and Kosovar central banks will benefit from a €500,000 programme and EU expertise to help them prepare to one day join the Eurosystem
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors
Kyrgyz governor steps down after three years
Governor announces intention to leave central bank before term is up due to ‘family circumstances’; emphasises success of ‘radical reforms’ in past three years at the helm
Fed paper challenges New Keynesian orthodoxy
Working paper argues sticky prices, which underpin most central banks’ New Keynesian models, can produce implausible results at the zero lower bound, with major implications for policy
South African banks fined $12m over lax money laundering controls
Standard Bank is fined $5.7 million and three other banks given smaller penalties over failure to implement required processes that would prevent customers from laundering money or financing terror
Frontier bonds find buyers as investors reach for yield
Pakistan sells $2 billion worth of Eurobonds as investors look for alternatives to US Treasuries; Greece and Swaziland among countries to find success with bonds in own currency
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report