News
Stanley Fischer announces October resignation from Fed
Vice-chair to step down in October “for personal reasons”, eight months before scheduled
Oman’s sultan replaces governor and restructures board
Second-longest serving governor leaves as oil prices put economy under pressure
Vietnamese government criticises central bank
Anti-corruption agency denounces inadequate banking supervision
Six large banks join UBS digital currency project
UBS announces the third phase of its digital currency project; analysts question whether the project can deliver all it promises
Irish central bank updates minimum competency standards
Mortgage institutions must give board members annual training; the move brings regulations into line with updated European laws
Portuguese bank seeks legal ruling on resolution fund payouts
BCP concerned by contingent obligations in Novo Banco sale; Portuguese government and financial sector have financed the resolution fund since its creation in 2012
PBoC offers reassurance on market liquidity after large-scale bond operation
Rollover of special government bonds will not have significant impact on liquidity, PBoC says; bonds were issued to finance China's sovereign wealth fund
Bank of England strikes deal to end pay dispute
Deal follows three days of industrial action and heads off a threat of more to come; union will play larger role in future pay negotiations
Tromp ejected from central bank by board
Curaçao and Sint Maarten governor returns to work only to be denied access; Emsley Tromp continues to be involved in legal proceedings
Emergency liquidity fund set up for stressed Russian banks
Move follows the Bank of Russia taking effective control of a systemically important lender
Liberian central bank attacks legislation as ‘forced de-dollarisation’
Central bank calls for gradual approach to prevent possible severe consequences
Norway’s oil fund recommends bond portfolio shake-up
NBIM managers recommend cutting riskier investments from bond benchmark index to improve flexibility and alignment with its goals
Uzbekistan poised to float currency
From September 5, restrictions on foreign exchange trading will be lifted, paving the way for a new operational framework at the central bank
PBoC bans ICOs in latest crypto-currency battle
Price of bitcoin falls as China’s central bank takes action against projects that have raised 2.6 billion yuan; regulators in other areas also wary of ICO funding
Russia could spend $7 billion on bailout – deputy governor
Commercial bank’s mismanagement of liquidity problem led to avoidable crisis – analyst
Bank of Mexico revises upwards its economic forecasts
Inflation is projected to return to the 3% target in 2018 and growth to be higher than expected, says governor
Riksbank study explores new stress test models for banks
A new proposal recommends developing models that can foresee multiple challenges and solutions
Paper challenges Rey’s ideas on global financial cycle
Cerutti, Claessens and Rose contest idea that capital flows are mainly the result of common shocks or developments in the US
BSP launches reforms to spur domestic debt market growth
The country aims to develop its domestic capital market to finance its massive infrastructure program; reforms will be undertaken over a period of 18 months
Basel Committee offers guide to fintech revolution
Document offers guidelines to supervisors grappling with rapid innovation, and imagines some of the repercussions of a world without traditional banks
Brazil's central bank ponders fintech lending regime
The central bank says digital lenders could expand credit to families and small companies
FSB urges Argentina to review macro-pru framework
International body encourages the central bank to consider creating financial stability committee, while improving co-ordination with regional regulators
RBI data casts doubt on value of demonetisation
Scheme receives fresh criticism after revelation that 99% of all notes have been returned; RBI emphasises long-term benefits
Future Fund takes cautious stance despite strong returns
Australian sovereign wealth fund exceeds benchmark return but managers stress need for “discipline” amid reach for yield