News
MAS concludes 1MDB review with fresh fines
Credit Suisse and UOB fined $1.6 million collectively, with further individuals receiving lifetime bans
Bulgarian financial system still faces risks – IMF report
Financial safety net presents “important challenges”, despite reform efforts, IMF staff say
People: Maltese deputy resigns; India and Macedonia seek new deputies
Alfred Mifsud resigns from Central Bank of Malta following civil dispute with former partner; India and Macedonia advertise for senior officials; and more
Former Greek central bank governor injured by bomb
Papademos attack follows letter bombs sent to Schaeuble and IMF
Pure DLT systems not yet suitable for wholesale payments – Bank of Canada
The current state of distributed ledger technology makes it too inefficient to run as a pure system, though elements could still be useful, researchers say; details of RTGS project emerge
Norges Bank hooks viewers with fishy banknote video
“The cod is coming” music video proves a hit, helping to advertise the central bank’s new banknote series
Lebanese government reappoints Salameh as governor
Governor will face considerable pressures from political factions and the refugee crisis
Bank Negara governor defends efforts to curb NDF market
Malaysian central bank will continue its actions to improve market mechanism to facilitate an open and robust onshore financial system
BIS’s Coen warns of danger in delays as output floors remain stuck
Long phase-in periods increase risk of “dilution or backtracking”, says BCBS secretary-general; remains vague on timetable for Basel III completion
Central banks stress commitment as FX Global Code launches
Central banks worldwide are quick to state they will comply with the new global forex code and expect their counterparties to do the same
DLT expert: central banks should consider wider uses than just payments
Instead of payments, central banks should look to implement DLT for identity document transfer, says Michael Mainelli; expert takes more cautious view of the technology
Eurozone’s non-bank sector taking more risks – ECB
Insurers and investment funds moving to higher-risk assets
Mark Carney ensnared by email prank
BoE chief seemingly caught off guard by the same prankster who tricked Barclays boss Jes Staley
No Asean pan-regional regulator in near future – panellists
Divergent stages of development, a desire for sovereignty and the limited business case are hampering further integration, speakers say
Long-standing Uzbek central bank chairman dies
Fayzulla Mullazhanov led the central bank since its formation following the collapse of the Soviet Union
BIS report points to benefits and costs of fintech lending
China, the US and the UK are the three largest markets, the working group’s report says
Greek bailout talks end without agreement
IMF fails to agree that commission concessions would make debt sustainable
Debelle: central banks can benefit from lack of covered interest parity
Increase in the “basis” or deviation from CIP is not always a sign of trouble and can offer reserve managers increased returns, RBA deputy says
RBI begins to wield new banking clean-up powers
Central bank puts pressure on banking sector to carry through plans to address non-performing assets; floats idea of supplying its own credit ratings to prevent “rating shopping”
ECB calls for insolvency and banking taxation reform
Europe would benefit from greater M&A activity in banking, European Central Bank says
Fed report finds many people left behind by growth
Survey finds nearly a quarter of Americans struggling to pay their bills; problems concentrated in less-educated segments of the population and minority groups
Sarb should leave monetary policy alone – IMF
South Africa’s current monetary policy stance is bringing inflation under control, fund mission says, advising the central bank to leave government reforms to do the legwork following downgrade
Central Bank of Egypt battles to contain devaluation impact
Inflation has rocketed since Egypt aligned official and black market exchange rates, forcing the central bank to take action
HKMA tightens macro-prudential measures for second time in a week
Hong Kong authority imposes another round of mortgage tightening measures, targeting home buyers with multiple loans and those whose incomes are not derived from the territory