Central Banks
Tombini: Central Bank of Brazil to do ‘whatever is necessary’ to hit inflation target
Brazil central bank ‘will do whatever is necessary’ to ensure inflation enters into a ‘long period of decline’ from this year onwards, governor says
IMF paper considers merits of macro-prudential liquidity buffer
Working paper asks whether such a buffer would be desirable, and how it might operate in practice; authors say it would complement other requirements including the LCR and NSFR
Heavy snowfall forces Central Bank of Jordan shutdown
Central bank and commercial banks were forced to close their doors as the Middle East was battered by a freak snowstorm; president urged people not to venture out
Turkmen central bank chief ousted as economic malaise worsens
Gochmurat Muradov is the latest in a string of Central Bank of Turkmenistan chairmen to be dismissed after only one or two years in the post; deputy chosen to take over his position
Bank of Mexico expects inflation back on target in 2015
Inflation in Mexico ended the year slightly above target, at 4.08%; Agustín Carstens expects it will converge to the goal of 3% ‘from mid-2015’
People: Philadelphia Fed gets new directors; Paraguay central banker named finance minister
Jon Evans and Carol Johnson are appointed to the Philadelphia Fed board of directors; Central Bank of Paraguay loses member of the board of directors to the government; and more
Fed earns $116bn on QE assets in 2014
Regional Fed banks transfer just under $100bn in earnings to US Treasury, a 27% increase on the previous year; operating expenses totalled $3.6bn
The winners of the Central Banking Awards 2015
Raghuram Rajan wins Governor of the Year while Reserve Bank of New Zealand picks up Central Bank of the Year; Jacques de Larosière honoured with Lifetime Achievement Award; 12 more awards announced
Governor of the year: Raghuram Rajan
Sharp analytical skills, decisive policy action, powerful communication and impressive leadership skills have enabled RBI governor Raghuram Rajan to lead the Indian economy onto firmer ground
Central bank of the year: Reserve Bank of New Zealand
A joined-up approach to monetary and macro-prudential policy, excellence in communication and governance, updated risk management, improved supervision and security made the RBNZ the standout central bank
Lifetime achievement award: Jacques de Larosière
Jacques de Larosière has earned a reputation as the great French international public servant, central banker and scholar of his generation
Economics in Central Banking: Claudio Borio
The Bank for International Settlements’ economics head secures win for his work applying the concept of ‘excess financial elasticity’ to the international monetary and financial system
Transparency award: Czech National Bank
After speeding up its communications procedures, expanding into social media and creating an online blog for senior policy-makers, the Czech National Bank has taken transparency to a new level
Reserve manager of the year: South African Reserve Bank
Adapting its management of growing reserves using innovative approaches that do not compromise on long-standing values has enabled sub-Saharan Africa’s biggest reserve manager to enter the top ranks
Website of the year: Bank of Canada
The central bank has not only successfully increased its online presence in 2014, but it has also actively passed on its expertise to the central banking community
Sovereign investor of the year: Norges Bank Investment Management
The manager of the world’s largest sovereign wealth fund offers ever greater levels of transparency coupled with enviable returns with its strategy to diversify into real estate is paying dividends
Asset manager of the year: BlackRock
BlackRock’s cohesive framework, combined with unrivalled geographic, asset class and investment-style capabilities, enable it to remain the pre-eminent asset manager for sovereign institutions
Foreign exchange dealer of the year: Standard Chartered Bank
The emerging markets specialist has played a pivotal role in assisting central banks and sovereign funds to diversify their holdings into emerging market currencies
Global custodian of the year: State Street
Servicing a diverse set of clients on multiple continents, State Street’s capabilities were amply demonstrated by its win of the National Pension Service equities custody mandate in South Korea
Payments and market infrastructure provider of the year: Eurex Clearing
The German company is driving efforts to help the derivatives industry meet new regulatory requirements, while also improving cross-margining services and bolstering its risk management capabilities
Technology provider of the year: Polaris
The Indian technology company’s flexible platform can be tailored to a remarkable range of operations, including helping central banks such as the RBI to upgrade and automate core banking systems