News
Riksbank predicts ‘elimination’ of retail payments competition
Sweden’s retail payments market is expanding but Sveriges Riksbank says larger players will prevail and smaller companies ‘will be eliminated’
Fischer gives high marks to Bernanke and Draghi
Outgoing Bank of Israel governor Stanley Fischer believes the world owes a great debt to Fed chairman Ben Bernanke and praises ECB president Mario Draghi; says Israel can live with side effects of QE
Draghi and Carstens step up at BIS as King retires
Mervyn King's retirement as governor of the Bank of England has created three chair positions on BIS committees that will be filled by the heads of the ECB and the Bank of Mexico
Brazilian currency must adapt to 'new reality', says deputy governor
Talk of an end to Fed QE is creating a 'new reality' for other currencies, as capital begins to flow back to the US; BCB will intervene if it sees the real diverging from a basket of currencies
HKMA and RBA voice fears over Iosco benchmark proposals
Responses to Iosco's Principles for Financial Benchmarks reveal concerns that many markets will not be able to support transactions-based rates; RBA questions 'lexicographic hierarchy'
Croatian governor cautious over banking union
Boris Vujčić says Croatia will adopt the euro "as soon as possible" after it joins the European Union next month; raises concerns over banking union and ECB’s lack of supervisory experience
People: Poloz takes over from Carney; Hristov returns from Bulgarian parliament
Stephen Poloz starts term as Bank of Canada governor; Bulgarian deputy resumes duties; Bermuda Monetary Authority shuffles management for ‘greater supervisory effectiveness’; and more
Caruana warns of yield curve 'global steepening'
BIS general manager Jaime Caruana says central banks must consider the effect on global bond markets of rising rates and shrinking balance sheets
MBS offer portfolio benefits for some central banks, say CBP panellists
Mortgage-backed securities may offer reserve managers a higher yield and diversification benefits for their foreign currency holdings, according to panellists in a new Central Banking On Air debate
BoE reveals £300 million drop in FLS lending
Banks participating in FLS scheme reduced their net lending by £300 million in the first quarter of 2013; Bank of England predicts ‘gradual’ increase throughout year
IMF prescribes faster eurozone progress for both Spain and Germany
IMF teams report progress being made in both Spain and Germany, though sluggish progress on banking union could stop both economies from bouncing back more quickly
BIS warns central bank easing is fuelling equity markets
The latest quarterly review released by the Bank for International Settlements (BIS) finds that markets are ‘under the spell’ of central banks
ECB's Cœuré says international liquidity must be allowed to flow
The risks from financial protectionism outweigh those of negative spillovers that currently dominate the global debate, argues ECB executive board member Benoît Cœuré
Fed’s Yellen moots higher capital requirements for US banks
Janet Yellen says Basel III capital requirements may not be enough to end the too-big-to-fail problem; sizes up risk in the shadow-banking sector
IMF gives its verdict on Abenomics
Article IV statement gives ringing endorsement to QQE in Japan; says ‘spillovers' may have adverse near-term effect on neighbours, but will be offset by benefits of economic strength in Japan
EC recognises member state fears that FTT will hurt clearing
Tax liability could send CCPs "directly into insolvency" warn Czech officials in leaked document
Protesters claim victory in ECB ‘blockade'
'Blockupy' movement targets central bank in anti-troika protest at austerity and democratic deficit
Euribor and Eonia submission panels to be split
European Banking Federation says banks will have to re-apply to be on each panel to ensure only those active in the markets participate; confirms banks may be forced to make submissions
Vietnam bad bank to stimulate growth in NPL-ridden banking sector
Vietnam central bank aims to put banking sector on a stable footing to support growth, by taking non-performing loans into state-run 'bad bank'
Volcker calls for end to inflation targets
Former Fed chairman tells New York audience the Fed must have the 'backbone' to exit QE before it is too late; says no need for a 'specific target or target zone' for inflation
UK consumers drop cash in move towards mobile payments
British Retail Consortium says cash usage fell sharply last year, while research by VocaLink finds a strong uptake of mobile payments by consumers, though retail payments are still dominated by cash
ECB links ‘fragile’ financial stability to weak macroeconomy
Latest financial stability review says stress has ‘fallen markedly’ but vulnerabilities persist; ECB is most concerned about the impact of a further decline in bank profitability
RBNZ could ‘scale up’ forex intervention
Reserve Bank of New Zealand governor Graeme Wheeler signals willingness to sell more NZ dollars to combat currency appreciation; house price increases put central bank in policy ‘bind’
Pressure builds on ECB as figures show no lending growth
OECD and the European Commission call on the European Central Bank to do more, as ECB figures show lending to the eurozone's productive economy continues to shrink