News
US Treasury hones its bank resolution regulations
Treasury proposals look to overhaul Chapter 14 from the bankruptcy code to limit use of Orderly Liquidation Authority, while restricting FDIC powers
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
MAS aims to move OTC derivatives trading to ‘organised market’
As much as 80% of interest rate swaps in Singapore would have to be executed on exchanges or other centralised trading facilities
ECB lacks power to investigate money laundering, Nouy says
Frankfurt ordered the shutdown of Latvia’s ABLV Bank after US Treasury accused it of illicit practices
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
‘Tilting’ building forces Seychelles central bank tenants to relocate
Central bank annex shows signs of “tilting” due to construction work nearby; tenants asked to immediately relocate
Thailand set to approve banking agents amid inclusion push
Financial inclusion effort means people can take deposits, transfer money and pay bills at banking agents, such as small merchants and post offices
Denmark selects Oberthur Fiduciaire as banknote supplier
The agreement will last four years, and the first notes printed by the firm are set to enter circulation in 2020
Polish central bank uses YouTube comedy to warn of digital currency dangers
Film runs up over 500,000 views, but some local media criticise lack of transparency
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
Singapore seeks infrastructure investment boost
MAS and ministry of trade and industry to set up an infrastructure office to encourage local and international firms to build Asian infrastructure
Latvian governor attacks bribery ‘lies’
Prime Minister says governor may be target of smear, but banker widens accusations
UK’s Treasury Committee publishes contentious report on RBS
Report had been protected under UK confidentiality laws, but parliamentarians chose to publish it regardless; report highlights “widespread inappropriate treatment” of customers
RBI under pressure from alleged banking fraud scandal
Alleged fraudulent transactions uncovered at Punjab National Bank undermine the firm’s capital position; RBI launches investigation into “increasing incidence of frauds”
CPMI flags up need for better cross-border payment options
Current infrastructure offers slow and costly transactions that are hard to track, says Committee on Payments and Market Infrastructures
People: Nominations to BoJ; Moghalu mulls presidential bid
Kuroda nominated for fresh term alongside two deputies; former CBN deputy considers bid for Nigerian presidency; Riksbank deputy reappointed
Ireland withdraws Lane’s nomination for ECB vice president
Spain’s de Guindos likely to take up role, but Irish may suggest Lane for the chief economist post
Sarb triumphs over public protector in latest ruling
Mkhwebane ordered to pay opponents’ legal costs as judge rules investigation was “unacceptable”; Absa Bank vindicated in latest ruling
ECB orders Latvia to shutter bank over laundering allegations
US Treasury alleges the bank laundered billions of dollars and had links to North Korea
Latvian police detain central bank governor on corruption charges
Rimšēvičs says charges are totally unfounded
Three men arrested for fraud at Kenya’s central bank
Men charged with 11 counts of fraud attempted to present $6.25 million in counterfeit Treasury bills
Bank of Russia upgrades interbank loan system
The central bank publishes a clutch of documents on financial technology; says hackers stole $6 million via Swift in a “common scheme”
Central banks mull securities lending as response to low yields
Institutions are proving more willing to experiment as conservatism threatens to erode their reserves