News
Lagarde warns of single currency ‘challenge’ in East Africa
IMF managing director Christine Lagarde tells the East African Community to learn from the genesis of other monetary unions across the globe
IMF urges full recapitalisation of Ugandan central bank
The Bank of Uganda was recapitalised by the government in June 2013, but further capital injections will depend on the central bank's ability to ‘streamline’ operational costs
Offshore RMB market booming in London, report finds
A study by the City of London Corporation reveals the City's efforts to become a global hub for renminbi business are paying off, with daily spot value reaching $4.8 billion last year
Bank of Estonia staff pay rises will survive budget cuts
Staff members will receive average salary increases of 5% in 2014, even as the central bank strives to cut its budget by €830,000
People: Canada deputy retires; Tucker becomes Sir Paul
John Murray's retirement creates a deputy governor vacancy at the Bank of Canada; former Bank of England deputy Paul Tucker is knighted; and more
Reserve managers continue push into diverse currencies
Latest data from the IMF shows non-traditional reserve currencies continue to see their share of global reserve holdings grow; sterling, yen and the Swiss franc fall in favour
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Bank Indonesia hands supervisory powers and 1,150 staff members to FSA
Shake-up of bank supervision sees micro-prudential responsibilities transferred from the central bank to the financial services authority
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Central Banking to resume service on January 2
Central Banking news and alert services are now closed for the festive season
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
Reserve Bank of Fiji names two new chief managers
Lorraine Seeto and Vilimaina Dakai will head the departments for risk management and financial institutions as the central bank rotates senior staff members once again
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
Fed taper met with calm, but questions remain
Markets take ‘expected' tapering in stride, but analysts warn of persistent emerging market vulnerabilities and changing FOMC dynamics in 2014
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor
Central Bank of Iceland to offload Kaupthing bonds acquired in the crisis
The bank will sell $860 million worth of covered bonds issued by Kaupthing Bank before the financial crisis over the next five years
National Bank of Austria overhauls ‘outdated’ website
Austrian central bank spent €500,000 renovating its 10-year-old website, with a focus on condensing the content and making it easier to navigate
Singapore's Tharman to stay on as head of IMF advisory body
International Monetary and Financial Committee calls on Singaporean finance minister, and former MAS chief, to remain in the chair for one more year
Central Bank of Venezuela to buy country's entire gold production
Central bank in joint bid with state oil company to ‘regularise' production, sales and purchases of the precious metal, which last year accounted for 70% of the bank's international reserves
Basel Committee says world's biggest banks can't report risk adequately
Globally systemic banks have provided the Basel Committee on Banking Supervision with an update on their progress towards risk reporting goals - revealing deficiencies in data aggregation
Carney defends forward guidance as UK unemployment falls closer to BoE threshold
Bank of England governor says reaching 7% unemployment threshold does not presuppose monetary tightening, but rather incorporates a deliberate buffer before full employment is reached