News
Central Bank of Iraq devalues currency by 23%
Oil-dependent economy has been hit hard by coronavirus shock
Former finance minister criticises PBoC’s prudential supervision
Lou attacks central bank over macro-prudential supervision and warns of China’s high debt levels
People: T&T governor has term extended
Hilaire will stay at T&T central bank until 2023; Sri Lanka promotes two assistant governors to deputy posts; Australia appoints new assistant governor; CNB official joins Esma board
US Congress strikes stimulus deal with weaker curbs on Fed powers
Previous wording would have prevented Fed from ever recreating the ‘Main Street’ programme
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
Republican lawmakers seek curbs on Fed’s emergency facilities
Treasury backs lawmakers in bid to insert wording to bar Fed from restarting Covid loan programmes
Bank of Mexico holds rates as board splits
Change to rate-setting board’s make-up may herald change in policy stance, say observers
Cuba ends dual-currency regime
Communist regime to merge convertible and domestic peso in major economic reform
Fed’s dollar swap lines and ‘Fima’ facility to run nine more months
FOMC keeps main policy tools on hold, but shifts guidance on asset purchases
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Divided Libyan central bank holds peace meeting
Central bank’s first board meeting in five years agrees single exchange rate for war-torn country
ECB establishes tough conditions for banks to resume dividends
Dividends must remain below 15% of cumulative profits in 2019-20 and not higher than 0.2% of CET1 ratio
Non-banks continue to eat into banks’ market share
FSB monitoring finds patterns of links between banks and non-banks are changing
Federal Reserve joins NGFS
Seven other organisations join as Trump defeat frees Fed to join green network
Carstens reveals details of ‘Rio’ high-speed data project
BIS chief unveils push for central bankers to innovate and rethink the way they collaborate
Maltese ex-finance minister becomes governor despite political dispute
Opposition alleges Edward Scicluna is “bad choice” but Labour government dismisses claims
China’s digital yuan kicks off test on e-commerce platforms
New round of tests in Suzhou allow use of CBDC for online shopping for the first time; new features designed to protect privacy
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
Colombia names new central bank governor
Senior economist focused on development set to take office in January
New Bank of Jamaica Act grants legal independence
BoJ Act 2020 triggers formation of monetary policy committee, board restructure and increased capitalisation
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends