News
Latin American central bank interventions 'mitigate' liquidity shocks
Central banks more concerned with global factors than structural changes to forex markets; post-crisis regulation and tech advancements proving problematic for market makers
Japan and Singapore agree regulatory fast-tracking of fintech companies
“Framework agreement” also provides for information-sharing on fintech innovations
Federal Reserve Banks to work with Swift to make cross-border payments ‘more traceable’
US payment systems partner with Swift to improve cross-border payment speed and traceability; Federal Reserve Banks and The Clearing House make gpi available to clients
Charlotte Hogg resigns from Bank of England
New deputy governor is stepping down as a damning report on her conflict of interest and suitability for the role is published
Atlanta Fed names new president
Raphael Bostic will be first African-American to be a regional Fed president
RBI research: demonetisation hit growth but helped inclusion
Authors find scrapping high-value notes impacted Indian growth and inflation but pushed many people to open bank accounts and improved policy transmission
Iceland lifts capital controls
Controls on individuals, firms and pension funds lifted, though the central bank will retain controls on inflows to resist carry trade
Nigerian recovery plan envisages new exchange rate regime
Plan calls for rationalisation of exchange rate structure and echoes many of central bank governor’s criticisms of status quo
US policy is “ultimate risk” for emerging markets – panellists
Expert panel says US fiscal, trade and monetary policy all have the potential to cause trouble for emerging markets in the coming months, though some risks seem over-stated
BoJ working to earthquake-proof its headquarters
Historic building has survived major disasters in the past, but the BoJ now wants to put the 75,000 ton building on “seismic isolation bearings”
People: FSB appoints Kganyago and Chan to committees; Bank of Spain picks new directors-general
Financial Stability Board replaces Menon and Tarullo with South African and HKMA governors; Bank of Spain makes appointments in financial stability and supervision; and more
‘Substantial’ accommodation must continue – Draghi
ECB president says underlying eurozone inflation remains “subdued”, despite rise in headline rate; he sounds the alarm over the possibility of a “competitive devaluation” by advanced economies
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Somalian central bank to print first notes since 1991
New 1,000 shilling looks set to enter circulation in 2017 with extensive assistance being provided by the IMF; central bank has struggled to operate amid civil war
Ghana issues banknote with QR code
New ¢5 note with 2D barcode to help educate the public on the numerous security features; bank to celebrate sixtieth birthday in August
MAS unveils new DLT plans for securities and cross-border payments
Success of initial project leads authority to launch two 'spin-off' projects, including a possible cross-border application of central bank-issued digital currency
Hungarian deputy governor loses responsibility for macro-prudential policy
Nagy replaced as head of Budapest stock exchange two days earlier
RBNZ to rethink capital requirements
Review will reassess country’s approach to Basel III implementation, after Australia decides to bolster its banks’ capital to be “unquestionably strong”
Scrap micro-foundations to repair macroeconomics – Steve Keen
Professor says economy should be viewed as a dynamic system with credit playing a crucial role, arguing we should ditch models such as DSGE
Tanzanian central bank slashes discount rate
Central bank cuts discount rate for the first time since 2013, from 16% to 12%; increase in NPLs has discouraged commercial banks from lending
Central Bank of Uzbekistan issues new highest-denomination banknote
New 10,000 som denomination to feature similar security features to notes already in circulation; inflation has eroded value of existing notes
Hogg admits to breaching BoE’s code of conduct
New deputy governor says she failed to declare her brother’s role with Barclays; BoE Court officials say it is a “very serious breach” but not a “hanging offence”
NGO calls for changes to ESM’s governance
Klaus Regling welcomes some of Transparency International’s conclusions
The winners of the 2017 Central Banking Awards
Bank of England wins Central Bank of the Year, while Carlos Fernández Valdovinos picks up Governor of the Year; Donald Kohn receives Lifetime Achievement Award; 15 more awards unveiled