News
Libya’s eastern administration elects new central bank governor
Mohamed al-Shukri, former vice-governor under Gaddafi, is elected by the House of Representatives; the move casts doubt on PM’s unification plans
SNB buys banknote company ‘to ensure its survival’
Company that provides substrate for Swiss banknotes came into liquidity difficulties following the cancellation of a tender from an international client
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Qatar Central Bank launches legal probe into manipulation
Central bank appoints law firm, as governor accuses blockading countries of manipulating the riyal and local markets
Experts’ panel appointed for RBNZ mandate review
A panel of three external experts will provide a report to the Minister of Finance; group will hold its first meeting later this month
BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight; changes imply heavy workload for the supervisor
GFXC publishes final word on last look
The Global Foreign Exchange Committee releases the new and final version of Principle 17, and adds two examples to illustrate best practice
FOMC will lose two dissenting doves in 2018
Kashkari and Evans were the only members who voted against the last rate rise on December 13
One big bank falls short of ECB’s capital requirements
One bank falls short and a second comes close, although five banks failed the test in 2016
CNB ramps up financial stability department role
Central bank “elevates” the department in its governance structure to reflect its growing importance; hikes countercyclical buffer amid lending boom
Bank Negara Malaysia issues new digital currency regulation
Proposed regulation aims to hold digital exchanges to a higher standard of transparency, while ensuring they identify any AML/CFT risks that may arise
Bank Indonesia to nudge more people to open bank accounts
The country aims to boost the percentage of the population with bank accounts to 75% by 2019
Ukrainian central bank warns over ‘lengthy delay’ to IMF aid
National Bank of Ukraine calls for urgent action on state-owned banks; governor’s post remains unfilled
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
HKMA offers fast-track model vetting in swaps hub pitch
Streamlined process could take just six months, says official
MAS expands consumer debt management toolkit
New measure caps “unsecured credit” that banks can offer indebted borrowers; it is a “pre-emptive measure”, says MAS official
EBA publishes NPL standards in bid to foster market
Reporting templates ask for granular data in bid to establish EU dataset
Russian central bank bails out country’s ninth-largest lender
Move is sign of continuing squeeze on private banks, observers say; Bank of Russia also cuts policy rates for fourth time in 2017
Bank of Mexico hikes rates as inflation rises
Central bank resumes tightening path as Mexican economy faces trade and currency challenges
Fed backtracks on CCAR cleared swaps exposure
Regulator had also postponed plan to feed cleared client exposure into G-Sib rankings
Google chief economist Hal Varian offers machine-learning insights
Varian says use of single-factor equilibrium models needs to give way to dynamic state approaches; he urges central banks to experiment, even though this will result in some failures
Draghi says ECB’s asset purchases should stay ‘open-ended’
ECB president rejects calls for September end to purchases as inflation forecasts rise slightly
Stress tests find vulnerabilities in European pension funds
More than a quarter of institutions could not fulfil their commitments following an adverse scenario
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency