News
Bank of Lithuania bans banks from virtual currency activities
Lithuanian financial firms must disassociate themselves from virtual currencies, says central bank, warning licences may be revoked
Birr plunges 15% as Ethiopia devalues currency
Move aims to tackle “severe” forex shortage; IMF recommends higher interest rates and more flexible exchange rate
London-based banks face ECB Brexit power grab
Drive to supervise swaps books from Frankfurt threatens cross-border balance sheet management
IMF cautions global vulnerabilities put growth at risk
Fund calls central banks to provide needed monetary support while tackling underlying threats
Bahamian central bank proposes law change to cap government debt holdings
New legal framework for Bahamas central bank would enforce “comprehensive” limits on government debt; holdings of long-term government debt stand at 12.52%
BoE introduces new counterfeit initiative for ‘front line of defence’
New checking scheme will employ “targeted training” for cash handlers while retailers will help central bank gather data on current practices
Danish central bank critical of fiscal easing plans
As growth accelerates and inflation rises the economy risks overheating, the central bank says
DNB warns of overheating in Dutch housing market
Government should raise borrowing limits and reduce mortgage interest tax relief – DNB
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
IMF recommends Spain take a tougher approach on NPLs
Fund advises central bank to set up a group to oversee public asset management company Sareb
ECCB strategic plan aims for ‘transformation’
Eastern Caribbean must address high unemployment and low growth, governor says
IMF: global recovery is broad but incomplete
Fund ups its growth forecasts but says many are missing out; Maurice Obstfeld urges policymakers to take action while “times are good”
StanChart probed by MAS over fund transfers
MAS says supervisory probe is still ongoing and it will not tolerate abuse of its financial system; Indonesia is also reported to be investigating
Bank of Zambia outlines resolution plan for failed lender
Balances of 99.8% of IBC depositors will be restored in full under new arrangement, which will see creation of new commercial bank
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Eurozone rate rises would have mixed impact on banks, ECB says
Keeping rates at the same level would decrease net interest income absent credit growth
Government funds at T&T central bank nearly exhausted
Trinidad and Tobago governor warns government has used 99.7% of its overdraft; finance minister blames former administration for depleted funds
ECB welcomes European Commission’s CCP proposals
Suggested policy would give all EU central banks greater regulatory role
Riksbank’s new stability chief resigns after less than a week
Henrik Braconier says he regrets stepping down from his former role with Finansinspektionen
ECB starts publishing corporate bond purchase data
Move increases transparency, but data contains few surprises, analysts say
People: Quarles confirmed for Fed role; Nigerian deputy nominated
Randal Quarles approved for Fed supervisory role; banker and gender equality activist picked for Nigerian deputy position
DNB to introduce climate-related risks in its supervision
Transition to a carbon-neutral economy will also create financial stresses, Dutch central bank says
Markets upbeat on strengthening US wage growth figures
Non-farm payrolls drop slightly but wages appear to be gathering pace; figures impacted by hurricanes Irma and Harvey