News
Basel III requirements could clash with new bail-in rules, warns IMF
Increased pressure on banks to rely more heavily on collateralised debt could combine with ‘depositor preference' rules to raise funding costs at a time when credit conditions remain tight
UK prepares for mobile payment apps
The Payments Council is launching a new mobile payments platform in the UK in 2014, and seminar participants discussed the challenges it will face
ECB's counsellor to the president crosses lines to Axa
Christian Thimann moves from central bank to financial services giant; takes on responsibilities as group head of strategy and public affairs
BoE’s Fisher happy to hold QE ‘in reserve’
Executive director says the ‘dramatic turnaround’ in economic data has alleviated the need for further asset purchases; insists the UK is not in the midst of a housing bubble
ECB holds rates but leaves new LTRO on the table
European Central Bank governing council decides against further rate cuts in Paris, but Mario Draghi says all options remain on the table to ensure money markets remain liquid
Kazakh governor replaced for 'family reasons'
Long-serving central bank governor Grigory Marchenko steps down in favour of deputy prime minister Kairat Kelimbetov
Banknotes worth $2m stolen from Swiss printer
Investigation under way into theft of incomplete Sfr1,000 notes that subsequently entered circulation as counterfeits
Bank of Italy copycat website closed
A replica of the Bank of Italy’s website has been shut down by the Italian authorities over fears it was seeking to illegally obtain internet users' personal data
Bank of England proposes new stress test regime
Deputy governor Paul Tucker says new framework will boost confidence in the UK financial system and help ensure the Bank is publicly accountable for its financial stability operations
Reserve managers continue advance into Canadian and Australian dollars
IMF's latest Cofer data displays increasing popularity of Canadian and Australian currencies as reserve assets, while the euro reverses a previous decline
RBA's Stevens complains of strong currency as rates stay on hold
Statement indicates frustration with Australian dollar strength as rates remain at 2.5%; analysts eye fundamentals approaching possible cut in November
IMF warns Italian financial sector is ‘not out of danger'
Assessment finds Italian financial sector to have shown ‘remarkable' resilience, but slender profit margins and worsening loan quality have led to ‘pockets of vulnerability'
Bank of Spain director general resigns
José María Roldán Alegre resigns after 12 years at the head of the Regulation and Financial Stability department; replaced by Julio Durán Hernández, currently director of the governor's office
UK ‘Help to Buy' brought forward as data show housing market hotting up
Data out today show some UK housing indicators are back at pre-crisis levels; financial policy committee minutes are due out tomorrow, as government doubles down on ‘Help to Buy' scheme
IMF proposes automatic stabilisers to guard against hot money flows
World Economic Outlook suggests countries can shield themselves from instability caused by volatile capital flows if they foster an environment allowing residents to easily invest overseas
Bank of Russia raises inflation target for next year to 5%
Hike is prompted by anticipated increase in regulated prices; central bank argues prior target of 4.5% would force tightening of monetary policy and risk stifling growth
ECB fires starting gun on SSM chair selection
New chair will head the single supervisory mechanism and oversee the eurozone's biggest banks from next year; appointment to be made jointly by the ECB and the European Parliament
Constâncio and Issing fear ‘zombie' bank dependency on central bank liquidity
Former ECB chief economist joins current vice-president in warning over weak banks becoming dependent on central bank money - but Constâncio says ECB is ‘exiting quietly and smoothly'
ECB 'streamlines’ assessment of settlement systems
Eurosystem central banks will use a new framework with ‘considerable procedural simplifications’ to judge whether settlement systems are safe enough to be used in their credit operations
Chinese capital rules meet Basel III standards
Bank for International Settlements report says China’s capital rules are in line with the Basel III minimum standards, but finds two 'potentially material' flaws
FOMC members unpick Fed's ‘no taper' decision
Jeremy Stein suggests clear-cut forward guidance for QE wind-down as several members highlight Fed's ‘communication challenge'; Esther George says decision poses a risk to future credibility
IMF calls for co-operation as Cypriot president targets central bank governor
Cyprus president says he may appeal to the courts to remove Panicos Demetriades from the Central Bank of Cyprus; IMF insists authorities must work together to protect financial stability
Eurosystem repatriation rule-change creates 'level playing field' for CSDs
Senior executives at Clearstream and Euroclear tell CentralBanking.com their companies are ready for the new landscape - and for the launch of T2S
Rajan urges central banks to consider spillovers
Reserve Bank of India governor wants central banks to consider the impact of their monetary policies on cross-border capital flows; questions the efficacy of QE, forward guidance and IMF advice