News
China picks Yi Gang to lead PBoC
US-trained Yi is viewed as a pro-market reformist, who has worked under his mentor Zhou Xiaochuan for two decades
BoE changes stress test framework but keeps scenario the same
Stress tests will attempt to gauge impact of IFRS 9
Bank of Israel profits from rising equities – market operations director
Andrew Abir says Israeli central bank has benefited from rising US equities
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
PBoC set for new governor
President Xi Jinping’s adviser Liu He widely expected to be named next PBoC governor
Yakiv Smolii confirmed as Ukrainian governor
Interim governor voted in as permanent head after 10 months
SNB struggles to end ultra-loose policy regime
The Swiss central bank’s hopes of normalising policy are being held back by weak expectations, a strong currency and policy actions abroad
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation
Patel complains of ‘deep fissure’ in Indian regulation
RBI governor’s remarks seek to deflect criticism over recent Punjab National Bank scandal
MAS prepares new approach to data collection
MAS says it is moving towards “zero duplication” of data requests and machine-readable regulation
UAE deposits $1.4bn with Sudan’s central bank as currency pressure continues
The country has “unsustainable” debt levels and US sanctions hurt debt relief – IMF
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says
Esma working group concerned about Euribor transition timeline
ECB’s Cœuré says new regulation has set “demanding” timeframe to find alternative to benchmark interest rates
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
Ukraine’s MPC concerned over inflationary pressures – minutes
First published minutes show currency worries as deadlock blocks vote on governor
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
Financial frictions key to DSGE performance – NY Fed paper
Post-crisis period was a harsh testing ground for structural models, but the New York Fed’s DSGE model was at least equal to private forecasts, researchers say
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
Macro-prudential measures should be made to last – RBNZ’s Spencer
Outgoing governor wants temporary framework for loan-to-value ratios to stay; says debt-to-income instrument should also be part of toolkit
Latvian governor barred from entering central bank
Deputy governor effectively in charge as governor banned during bribery investigation
Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
Return of volatility helps shatter market illusions – BIS’s Borio
Quarterly review focuses on recent market gyrations; researchers outline new early warning indicators for financial stress
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies