News
MAS targets household debt with new credit rules
The Monetary Authority of Singapore has unveiled an arsenal of new measures to cap individuals' borrowing in an attempt to rein in rising levels of household debt
Asia-Pacific central banks shed light on future policy
Bank Indonesia hikes rates; Reserve Bank of New Zealand says it will likely tighten policy in 2014; Bank of Korea looks to buck emerging market trend and keep rates low as inflation drops
ECB reaches agreement with European Parliament over SSM minutes
European Central Bank will be required to submit a 'comprehensive and meaningful record of proceedings' of supervisory board meetings to the European Parliament - but not minutes in their entirety
Bank of Russia names G-20 summit co-ordinator as first deputy governor
Ksenia Yudayeva takes over as one of four 'first deputies' from Alexei Ulyukayev, who was made an economics minister earlier this year
Regional Feds launch push for faster payments
The 12 Federal Reserve regional banks outline a broad 10-year plan for generating a faster, more efficient payment system; look to industry for specifics
People: Stanley Fischer joins US think-tank; Hungarian central bank official moves to EIB
Fischer takes post at US think-tank after leaving the Bank of Israel; László Baranyay joins the European Investment Bank; sovereign wealth fund managers on the move
European Parliament postpones vote on SSM
Lawmakers want the European Central Bank to provide detailed minutes on banking supervision meetings; issue could delay parliament approval of SSM
Asmussen: Eurozone governors should ‘withstand' pressure of public minutes
ECB executive board member Jörg Asmussen says eurozone central bank governors should be able to withstand the pressure of having their deliberations and voting made public
Bank of England considers move to polymer banknotes
UK could get polymer banknotes as soon as 2016; Bank of England launches a public consultation in a bid to win approval for the change
US and UK regulators have no ‘informal agreement’ on fines, says FCA chief
Financial Conduct Authority chief Martin Wheatley denies existence of a formula agreement for fines imposed on financial institutions among US and UK regulators
Central Bank of Madagascar governor dies
Guy Ratovondrahona suffered a stroke while travelling to work, leaving the two most senior positions at the central bank vacant
China sees accelerating interest rate reform, starting with deposits
China expected to follow lending rate liberalisation with removal of the deposit rate cap; new agency created to co-ordinate financial regulatory bodies
Borio to take over from Cecchetti at BIS; ECB's Cœuré appointed CPSS chair
Claudio Borio promoted from deputy to head up the monetary and economic department in Basel; Benoît Cœuré, the ECB's head of payments infrastructure, to take over from Paul Tucker at CPSS
RBNZ licenses 99 insurers as three-year deadline passes
New Zealand's 2010 Insurance Act gave insurers until this Saturday to apply for and receive a licence allowing them to continue business operations in the country
Hungary signs RMB swap line with PBoC
Agreement is the People's Bank of China's second with an EU member state following deal with the UK; equals the size of swap line China has with its neighbour Mongolia
ECB pushes banks on ABS reporting
European Central Bank raises the reporting bar for banks looking to use securities backed by SME loans as collateral; sets October deadline for more detailed disclosure
Sri Lanka central bank launches liquidity support scheme
Immediate support granted to licensed financial companies facing liquidity constraints; CBSL may also call for fresh injections of shareholder capital
US jobs data disappoint raising doubts over September taper
Unemployment fell to 7.3% in August, but modest improvement in jobs data eclipsed by big negative revisions of June and July figures; analysts split over how numbers affect Fed's decision to taper QE
Mersch backs close relationship between monetary and macro-prudential policies
ECB executive board member says policies should take one another into consideration and exploit informational synergies; LSE academics concerned by politicisation of macro-prudential frameworks
G-20 leaders vow co-operation to avoid monetary policy spillover
St Petersburg summit sees IMF concede advanced economies are now the major engines of global growth; European banking union is a top priority in the G-20's joint ‘action plan'
FSB flags up financial reform concerns
Financial Stability Board reports on progress of financial reforms to G-20 leaders; details the ‘serious problems’ emerging in some areas of national policy implementation
FX now a $5.3 trillion per day market, says BIS
The latest BIS triennial survey shows the UK has strengthened its grip on the FX market, while USD/JPY has seen a strong increase in trading activity
ECB holds rates as Draghi is ‘caught between doves and hawks'
ECB sticks to forward guidance as eurozone recovery deemed too 'green' to warrant a tightening of policy; announcement is imminent on the single supervisory mechanism
Fed presidents opposed as September meeting nears
John Williams backs reducing asset purchases ‘later this year’ while Narayana Kocherlakota says the Fed should be providing ‘more stimulus… not less’