Financial reporting
BoE capital injection lays ground for stronger crisis response
Higher risk-bearing capacity allows additional emergency measures, Mark Carney says; move could bring forward BoE’s exit from QE
BoE’s profits dip on higher banknote and research expenditure
But total expenditure comes in below budget due to lower headcount than expected
BoE profits exceed target, but pay squeeze continues
Senior staff to receive below-inflation pay rises, though income and costs both “favourable”
SNB loses $6.9 billion in Q1
Higher interest rates reduced the value of sovereign bonds
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
RBNZ deputy governor calls for move to ‘dual reporting’
“Sometimes unclear” how banks reach their risk weightings, Bascand says
Sri Lankan central bank launches sweeping reforms in wake of bond scandal
Central bank tightens controls on debt management and pension fund trading after investigation uncovers malpractice
CBN orders banks to form central customer watchlist
Nigerian central bank ramps up payment system risk management with core customer database, which will put bank customers on a ‘watchlist’ in instances of misconduct
Banks are scrambling to hit IFRS 9 deadline – survey
Many banks appear to have been caught off-guard by the complexity of adapting to IFRS 9; impact assessments still patchy, but some see provisioning needs up by 40% or more
EBA study quantifies impact of IFRS 9
Report finds smaller banks are likely to see a heavier capital impact from new accounting rules; Basel Committee paper says a mix of forward- and backward-looking rules may work best
Riksbank urges government to amend profit allocation plans
General Council welcomes clarity in proposal but says it must have the power to request recapitalisation
Fed income drops in 2016
Central bank remits less to US Treasury as interest income declines and operating costs rise; passage of "Fast Act" changes remittance process
Hauser makes case for BoE’s second line of defence
Ballooning balance sheet and growing contingent liabilities raise need for central bank to bring its risk management in line with “best practice”, executive director says
Market discipline stems Level 3 asset manipulation – paper
Bank of England paper shows link between low capital ratios and Level 3 assets between 2008–2013, but market discipline moderates the impact from accounting discretion
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
Bank of Israel cuts 2017 budget as building and banknote projects wind down
Central bank continues process of budgetary restraint as it unveils work plan for 2017; spending on renovation and new technology and emergency centre falls
Central Bank of Brazil sets out agenda for 2017
Improved governance and financial inclusion at the top of the list for the central bank; aims have been published on an innovative interactive webpage
Riksbank’s Flodén warns QE dividends may not continue
Quantitative easing has generated profits so far, but the central bank is likely to incur losses in future, deputy governor warns; purchases amount to maturity transformation and therefore carry risk
Basel Committee outlines plans for ‘fundamental change’ of IFRS 9
Task force to consider impact of expected credit loss approach on regulatory capital, while consultation lays out interim plans
RBI annual report shows both income and expenditure on the rise
Staff costs and transaction fees drove rise in overall costs in 2015–16, although these were balanced by higher income; staff numbers on the decline
Auditors ‘key’ in strengthening corporate governance, says Mauritian deputy
Deputy governor examines difference between supervision models; under ”four lines of defence” model, auditors provide ”autonomous assessment” of previous three lines
Sri Lanka releases trading stats as it seeks to develop market
First set of data shows 3.42 billion rupees traded, with transactions over 50 million rupees to be reported within 30-minute window
Bank of Namibia cuts growth forecast, but expects rebound
Namibia to grow 4.4% in 2016, central bank projects; improvements expected in 2017, alongside recovery in diamond mining sector
Jamaica’s monthly inflation turns positive
It increases to 0.2%, but annual inflation slides to 2.1%; Bank of Jamaica still confident that inflation will fall within the target range for 2016/17