News
Central Bank of Bahamas to oversee establishment of credit bureau
Credit bureau in sight as Bahamas central bank gains oversight of new regulatory reporting system, which will give lenders a better model for pricing risk
Fernando Restoy looks to realign Basel’s FSI
The Financial Stability Institute chair discusses the prospects for implementing Basel III, the challenging political context and the FSI’s role in it all
Slovene governor: draft law would harm bank’s independence
Government’s action is the latest move in its dispute over bank bail-ins
Norges Bank advises removal of oil and gas stock from government fund
Norway’s SWF held $36.5 billion in equities in the sector at the end of September 2017
RBI’s Acharya: ‘fundamental reform’ to fix transmission
Despite several earlier attempts at reform, the central bank is still struggling to pass on its policy actions to the economy
FCA to publicly recognise selected codes of conduct
Regulator says the public recognition of good practice will encourage adherence
RBNZ seeks liquidity and stability with new mortgage bond standard
New Zealand central bank hopes standard will support market liquidity and improve its own risk position
People: Riksbank appoints new head of financial stability
Sweden confirms the head of financial stability; BIS appoints new advisory board; Ukraine has new director of payment systems; and Angola reshuffles board of directors
ECB says draft Polish legislation could cause moral hazard
Law may have “considerable impact” on bank profits, central bank says
Bank of Spain inspector denounces supervision interference
Supervisors consider essential the creation of a body to safeguard their independence
Low productivity might not be weighing on real rates – research
Long-run correlations imply there is little reason to believe low productivity is associated with low rates, Cleveland Fed economist finds
Bank of Israel invites real-time payments proposals
Central bank envisages “at least” one real-time payments infrastructure, to be developed and operated by a third party
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
TCH launches real-time payment platform in US
Firm launches US’s first real-time payment system, cutting transaction times from days to seconds
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
ECB article warns of possible effects of a Chinese slowdown
Looser Chinese monetary policy in response to problems could have significant effect
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices