News
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
People: Brazil central bank set for female deputy
Carolina de Assis Barros set to become deputy governor after reshuffle; ECB’s Euribor expert prepares for EMMI move; and more
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Ukrainian central bank criticises lawmakers for failing to reform state-owned banks
Draft law aimed to protect country’s largest banks from ‘political impact’, NBU says
Basel Committee adds ‘amber zone’ in market risk revamp
“Amber zone” will protect near-miss desks, but regulators not convinced by complaints on non-modellable risk factors
Public debt in low-income countries rising to risky levels – IMF
The fund recommends official creditors co-ordinate their response to debt crises
Myanmar central bank opens up more room for foreign banks
Seven foreign banks received a long-awaited approval to provide trade finance to local exporters
Slovene governor quits post after receiving death threats
Governor Jazbec says threats come from “bailed-in” bond and shareholders; criticises article by presidential adviser
BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5% but leaves the door open for two potential rate hikes in 2018
BoE and FCA to lead new ‘crypto-assets task force’
Regulators will manage the risks around crypto assets as well as “harnessing the benefits” of blockchain; robo-compliance on cards
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
Mongolian central bank opposes interest rate cap
Mongolia has some of the world’s highest interest rates, but the central bank warns caps are not the right solution
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
New York Fed director involved in selecting new president resigns
David Cote stepped down shortly after the institution revealed it was considering “a handful of final candidates”
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
Bank of Ghana places troubled UniBank under administration
Central bank says it has made several attempts to save the mid-sized lender since 2016, but claims lack of co-operation from management and false information led to failure
Fehmi Mehmeti confirmed as Bank of Kosovo governor
Parliament narrowly votes to approve the interim governor for the full-time role
Kenyan central bank condemns interest rate cap legislation
Rules introduced in 2016 have restricted access to credit for small firms and impaired the central bank’s ability to conduct monetary policy
Global leverage may be higher than supervisors realise – IMF paper
Standard measures of leverage are too focused on balance sheets, researchers say
Lawmakers should not yet intervene on big data – European agencies
Financial institutions should develop best practice for big data, ESAs say
Venezuela pays off $2.1 million debt to Chile
Struggling Latin American country honours debt repayments under Reciprocal Payments and Credit Agreement, after missing payment in 2017
People: Bank of Finland to select new governor
Finnish governor Liikanen finishes final term in July; Seychelles reappoints governor and deputies; South Africa sets up foreign exchange committee; Atlanta Fed’s vice-president retires
Nigerian central bank hopes for end to monetary policy committee deadlock
Governor says country’s lawmakers should approve MPC nominees soon
CPMI adds three new members
All G20 members and more emerging markets are now represented