News
Low rates can harm productivity, say Liu, Mian and Sufi
Low rates may end up discouraging investment across the economy, authors say
A dual-currency system would make negative rates work – IMF research
Proposal would free monetary policy from lower zero bound when dealing with a recession
Central Banking Awards: governor and central bank of the year unveiled
Karnit Flug and the Monetary Authority of Singapore win accolades
Data overhaul needed to enhance insolvency frameworks – IMF
Paper highlights the importance of data in analysing efficiency of current resolution policies
People: Israeli deputy to leave the central bank
Baudot-Trajtenberg to step down from deputy governor post; Argentina gets new board director and president of national mint; and more
Fed’s 2019 stress tests to assume largest unemployment shock to date
Central bank also announces moves to enhance transparency in its stress-testing programme
Australian inquiry calls for major reforms of regulatory culture
Authorities did not enforce laws on financial sector strongly enough, report argues
Improved political environment lends support to Lebanese pound
As new government is formed, investors become more willing to sell dollars and buy pound
Non-banks continue rise as banks lose market share
Non-bank financial firms hit a record high, at nearly half of global financial assets, FSB finds; leveraged lending increasingly an area of focus
Jamaica’s Wynter says forex volatility is nothing to worry about
Central bank uses social media to calm markets after forex intervention
Guinean central bank benefits from reform programme – IMF staff
Bank has improved internal systems and lowered financing of government, staff report says
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Central Bank of Nigeria funds post-graduate economics centre at university
President praises CBN’s “huge investments” in economy as rival pledges change of governor
New York Fed to help Bangladesh Bank chase down stolen funds
Two years on from the heist, the organisations have signed a “technical assistance” agreement
PBoC handed leading role in macro-prudential policy
Shake-up of PBoC’s governance structure sees central bank gain macro-prudential department
Adverse environment forces banknote firm Arjowiggins Security to close
Paper specialist forced to liquidate UK and French holdings despite restructuring
Polish parliament seeks to cap central bank salaries
Move comes in response to scandal over pay of two senior central bank staff
RBI lifts operation restrictions on three state-run banks
Banks no longer face dividend and compensation limits after capital ratios improve
Venezuela to sell 15 tonnes of gold to UAE, reports say
US senator warns of sanctions if UAE co-operates with Maduro regime
Kazakh president piles pressure on central bank to boost growth
Autocratic ruler berates ministers and central bank chief over banks and growth rates
IMF endorses Hong Kong’s tight macro-prudential measures
But risks to the outlook appear to be building, the fund says
European Commission accuses eight banks of bond market collusion
EC can fine banks 10% of their turnover if it finds “sufficient evidence” of market rigging
Philip Lane likely to become next ECB chief economist
Former academic economist set to become first Irish citizen in senior ECB role
Bank of Albania must resolve policy transmission issues – IMF
Issues with monetary policy transmission are obstructing efforts to hit inflation target