News
Korea transaction tax could halve number of derivatives transactions
Proposal for a transaction tax on futures and options could have a dramatic impact on Korea's derivatives market
Basel Committee praises progress in reducing FX settlement risk
Consultative document highlights progress made in reducing foreign exchange settlement risks; updated guidelines warn that significant risks still remain
Central Bank of Chile holds rates as currency appreciates
Benchmark interest rate left at 5% amid international uncertainty and appreciating peso; first time currency’s gain has been highlighted since dollar-buying programme
HKMA re-appoints Standard Chartered as euro settlement institution
Standard Chartered Bank given a third five-year contract to run the euro real-time gross settlement system in Hong Kong; commended for operating the system “smoothly and effectively” since 2003
Australian payments systems board debates multi-network cards
Introduction of contactless payments reignites discussion surrounding cards issued by banks with debit functionality from more than one payments network; consultation launched
Central Bank of Ireland warns over unlicensed banks
Concerns raised abroad lead Irish central bank to caution consumers against dealing with two illegal firms; both ‘banks’ have offered banking services without having the necessary licence
Central Bank of Ireland highlights varied success of aid programmes
Research note examines progress of five European countries with EU-IMF programmes towards meeting debt sustainability targets; warns Ireland is likely to miss targets
Oman and Bahrain central banks outline plans for Eid
Preparations underway for banking sector shutdown and cash demand surge during religious celebrations; both Central Bank of Bahrain and Central Bank of Oman will shut
Central Bank of Brazil celebrates Olympics handover with new coins
Two commemorative coins released this month in honour of the arrival of the Olympic flag in Brazil; images symbolising London and Rio de Janeiro feature in the designs
Malaysian growth rate exceeds target
Report published by Bank Negara Malaysia on economic developments in second quarter shows increase in growth beyond level forecast in annual report; central bank expects trend to continue
Central banks make “record” gold purchases in Q2
World Gold Council says central banks bought 254.2 tonnes of gold in the first half of 2012; Kazakhstan, the Philippines, Ukraine and Guatemala among the countries that added to reserves
FSB launches peer review of resolution regimes
Questionnaire sent out by Financial Stability Board aims to provide comparative analysis of members’ resolution regimes to identify gaps and evaluate progress
NBS management weakens as fourth council member quits
Kosta Josifidis resigns from the National Bank of Serbia’s Council of the Governor leaving just one member remaining; doubts continue over central bank’s future as politicisation fears mount
CLS hires JP Morgan veteran as chief executive
David Puth, the former chair of the New York Fed's FX Committee, will become the next chief executive of CLS next week
Ireland releases coins in memory of former finance minister
Central Bank of Ireland issues two coins commemorating 90th anniversary of Michael Collins’ death; chief operations officer speaks of 'overwhelming' interest in the collector items
BoE minutes show MPC left out rate cut discussion
Possibility of cutting benchmark interest rate was not discussed at latest MPC meeting; policy-makers decided to keep rate and quantitative easing steady
Bank of Thailand statistics show ‘resilient’ banking system
Figures for second-quarter 2012 indicate strong growth of lending and profits in Thai banking sector; results boosted by continued decline in non-performing loans
Central Bank of Ecuador receives loan to promote financial inclusion
Inter-American Development Bank lends Ecuador $10 million to further access to financial services in remote parts of the country; central bank to administer the project
Asian Development Bank opens office in Myanmar
Asian Development Bank furthers "re-engagement" with Myanmar by opening an office; alternate executive director from the country also joins ADB board of directors
UK inflation figures show surprise rise in July
Office for National Statistics surprises markets by announcing CPI inflation rose to 2.6% in July; Bank of England last week predicted the rate would continue to fall this year
RBA payments manager discusses challenge of Basel III deadline
Reserve Bank of Australia’s Mark Chambers says countries are struggling to implement Basel III framework in time; highlights obstacles facing Australian policy-makers in introducing regulations
Central Bank of Barbados governor praises government’s fiscal strategy
DeLisle Worrell says Barbadian government’s policy strategy is appropriate to the ‘economic reality’; follows downgrade of sovereign debt to BB+ in July
Estonian growth recovery 'relies' on eurozone governments' action
Estimates for Estonian growth rely on eurozone governments acting to ease the ongoing uncertainty, says central bank economist Kaspar Oja; domestic demand stays strong nevertheless
National Bank of Ukraine figures show end of deflationary period
Inflation figures show annualised CPI inflation rose from -0.3% in June to 0% in July; economic department deputy says figures are ‘close to optimal’