News
Uzbekistan to press ahead with forex reforms
Authorities plan to “frontload” efforts to unite black market and official exchange rates, allowing the central bank to focus on stabilising prices
China-led Asian Financial Cooperation Association launches
AFCA aims to strengthen regional financial co-operation and participate in global financial governance
Major issues on Greek debt still need resolution, analysts say
Deal between European partners and IMF will still face many difficulties, even after German elections, observers warn
Belarus turns to blockchain for information sharing
Central bank uses technology for new information sharing network with plans to deploy the tech to other areas, including securities market
US regulators hand Volcker rule exemption to foreign firms
Agencies are conducting a review of how the Volcker rule is applied to foreign investment funds, as some appear to be captured unintentionally
People: Philippines appoints new deputy, Central Bank of Ireland promotes regulators
Philippines central bank appoints new deputy to replace Espenilla, Central Bank of Ireland makes senior appointments in regulation departments following reshuffle, and more
IMF gloom on US and UK balanced by brighter spots elsewhere
IMF raises projections for China, Japan and eurozone as the UK and US falter; maintains global growth forecasts at 3.5% in 2017
Russian prosecutor clashes with central bank
Bank of Russia must take commercial bank out of administration, prosecutor says
New coins to launch in Philippines in 2017, says deputy governor
Series will integrate new security features akin to those used in banknotes, but 10 cent will not be featured
Ukrainian central bank bars PwC from further audits
NBU says firm verified “misrepresented information”, but PwC denies charge
Tensions rise as EU payments deadline nears
Europe’s revised payment services directive is meant to boost innovation, competition and security, but many are concerned it has serious flaws
Guinea Bissau still struggling with NPLs, says latest IMF assessment
Country still reeling from failed bailout that saw two banks default; fund stresses the need for prudential regulatory compliance and praises three-pronged approach
France should broaden macro-prudential oversight – FSB report
Country should widen its outlook to include asset managers and other risky areas, a peer review finds; report recommends action to boost communication and disclosure
Central Bank of Paraguay re-enters markets with World Bank support
World Bank to provide assistance on efficient portfolio management following re-entry into international markets
ECB will look afresh at policy this autumn – Draghi
Draghi says recovery is continuing, but strikes a cautious note on inflationary pressures
Sarb takes action amid ‘extremely weak’ demand
Central bank revises down its forecasts as economic situation deteriorates; governor warns of possible cliff effect if there are further rating downgrades
Bank of Japan cuts inflation forecast as policy remains on hold
The BoJ cuts its forecast for prices as it struggles to hit its inflation target; keeps policy steady
Russian central bank reorganises senior personnel
First deputy governor will resign on September 1; responsibilities to be split among other board members
Verbs matter in forward guidance – Italian paper
Researchers look at verbs used in ECB statements from 2002 to 2015
Fed fines BNP Paribas over forex manipulation
French bank is to pay $246 million to settle an investigation of misconduct
IMF praises Madagascar’s approach to monetary framework change
Madagascan central bank to introduce overnight deposit facility to form basis of an interest rate corridor; fund notes effects of vanilla bean shock still being felt by banks
BoE opens RTGS to non-bank payment service providers
Non-banks gain direct access to settlement accounts at the Bank of England for the first time, though they will not be able to participate in monetary operations
Bank of England unveils Jane Austen £10
New banknote will be the first to include tactile features for the visually impaired; Carney says timeline for the new £20 remains on track despite polymer controversy
China's president hands PBoC stronger role in tackling financial risks
China will set up a financial stability and development committee to co-ordinate financial supervision, and the central bank will play a stronger role in financial regulation, Xi Jinping said at a national financial work conference.