News
UK lawmakers demand fix for RPI miscalculation
House of Lords says Statistics Authority’s failure to fix error has left many members of public poorer
Costa Rica credit rating downgraded two notches amid persistent fiscal deficit
Fitch Ratings revised rating down despite early repayment of central bank and fiscal reforms
ECB revamps code of conduct for high-level officials
National governors and SSM board members must adhere to policy communication rules
EU supervisors set out process for cross-border AML data sharing
Agreement will allow ECB and national supervisors to share data on suspected money-laundering
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
BoE’s leveraged loan research draws interest from overseas
UK exposures are modest but firms in US and Japan have bigger holdings of CLOs, which carry echoes of the subprime mortgage crisis
Sarb’s mandate will not change, president Ramaphosa says
Officials move to clarify manifesto claim following backlash
Private mints to help with £1 overseas distribution
Royal Mint will provide blanks for overseas territories but design and distribution is responsibility of individual regions
Moldovan central bank suspends rights of lenders’ shareholders
Move is latest effort to enforce law in notoriously difficult banking sector
Lebanese central bank orders wire services not to use dollars
Economy under strain from political division, fiscal shortfall and refugee crisis
Key Brexit vote complicates outlook for UK economy
Vote this evening leaves UK’s political and economic future uncertain; analysts optimistic on outlook for sterling
MAS to gain powers over wider set of payment services
Central bank will also enforce new limits for coin payments
Fed diversity is focus of new legislation
New bill would ensure at least one gender- and one ethnically-diverse candidate are interviewed for vacant president roles
Basel Committee softens impact of revised market risk framework
Final framework cuts expected increase in average capital requirements almost in half; committee may consider some further rule-making in 2019
European auditors ask lawmakers for increased access to ECB documents
ECB has failed to provide sufficient information in three major audits, official body says
Bank of Israel calls on government to reduce deficit
Budget imbalance is forecast to reach 3.6% of GDP in 2019, official target is 2.9%
Individual bank diversification can increase systemic risk, researchers find
Banks that are not systemically important can be ‘systemic as a herd’, authors say
Powell urged fast end to QE despite signs of taper tantrum
Jerome Powell sensed taper tantrum was a risk, but urged then-chair Ben Bernanke to act anyway, transcripts show
People: RBNZ completes senior team shake-up
Chief information officer and two new assistant governors round out RBNZ reshuffle; Bolivian central bank hires vice-president; regional Fed boards for 2019 unveiled
Rise of renminbi prompts central banks to open Asian offices
A total of nine central banks now have offices in Asia, but New York remains city of choice
Ukrainian central bank plans major forex liberalisation
NBU says foreign currency reserves are highest since before revolution
Federal Reserve profits fall as normalisation takes hold
The Fed remittances to US Treasury fell by 18.5% from last year
BIS’s Borio calls on economists to take money more seriously
Money is too often explored in isolation, or ignored completely, the BIS economist says
Switzerland grants fintech firms access to interbank payment system
Federal government modified ordinance to create new licensing category on January 1