News
Hogg stresses readiness to resist groupthink at BoE
New joint deputy and COO says she is willing to stand up to Mark Carney after committee chair flags risk of “over-mighty governorship”
EC: regulators could adapt rules to protect bond liquidity
Official recognises regulatory hit to corporate bond and repo markets, but rejects Mifid delay
Sri Lankan finance minister accuses former governor of fraud
Ex-president and former central bank governor are both accused of “fraudulent management of public debt”
MAS forms council to toughen corporate governance code
Ageing code of corporate governance needs to be updated to reflect best practice, authority says; chairman notes pressure on companies to become more transparent
BIS creates DLT analytical framework for central banks
CPMI working group lays out important questions for central banks when implementing distributed ledger tech for payments and settlement; access is a key concern
People: CBRC gets new chair; Colombian board member appointed
Veteran official takes top job at Chinese banking regulator; Gerardo Hernández Correa joins Colombian central bank; appointments at ESM and Czech National Bank
Worrell fired from Central Bank of Barbados
Finance minister removes governor from post after court battle; deputy appointed by the board to serve as new governor
Bundesbank official: Don't count on ‘economic sanity’ in Brexit talks
Equivalence agreement is “not a reliable substitute” for passporting, but the UK should have an interim regulatory arrangement, Bundesbank’s Andreas Dombret says
ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
IMF stays tough on debt relief as it prepares to return to Greece
Maurice Obstfeld and other top officials stress the fund’s demands on debt sustainability; mission to return to Greece next week
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month
BoE acts to tackle disparity in capital requirements
PRA plans measures it believes will boost competition and address adverse incentives generated by the standardised approach to calculating risk weights
Ukrainian central bank crackdown on capital flows to Russia
Governor says coal blockade may force central bank to take emergency measures including re-imposing exchange controls
Worrell’s woes: Barbadian governor battling on two fronts
Further evidence emerges on governor’s clash with finance ministry and board; Worrell worried about level of reserves and fiscal spending, while senior management complains of being marginalised
Shafik calls for candidness on uncertainty in her final speech
Outgoing Bank of England deputy says central banks must do more than just increase transparency if they are to restore trust
Alan Greenspan says gold standard would have reined in debt
Former Fed chair says US would not be so indebted if it was on the gold standard; gold is the “primary global currency”, Greenspan says
Target2 robust enough to withstand liquidity shocks – ECB study
Research modelled the effects of “extreme collateral deteriorations” on Target2 participants
Plummeting inflation prompts Bank of Zambia action
Central bank cuts policy rate by 150bp, in addition to a cut to the overnight lending rate and reserve ratio; inflation falls from over 18% to 7% in a matter of months
Irish deputy governor says Brexit will have negative impact on Ireland
Donnery says regulators must not allow “fragmented” supervisory system to emerge
RBI’s Acharya says India ‘urgently’ needs asset management company
New deputy governor says stressed assets must not be allowed to “fester”, sketching two possible designs for an asset management company
Mexico steps in to stabilise forex market
New derivatives contracts will be available to all credit institutions, with the first auction scheduled for March 6; a total of up to $20 billion will be allocated, central bank says
Europe must strengthen money-laundering controls – EU agencies
Firms fail to properly implement AML/CFT policies, two-thirds of European national regulators say
Carstens agrees to stay at Bank of Mexico until December
Following a meeting with the Mexican president and finance minister, the governor will stay until end-November; BIS board approves the arrangement with general manager Caruana to stay until December
Sri Lankan governor appears before inquiry into alleged fraud
Critics allege malpractice involving firm owned by former governor’s son-in-law; local media report officials also worried by severe drought