News
Russian central bank declares moratorium on bank's creditor payments
Peresvet Bank is 49.7% owned by Russian Orthodox Church; size of debts or political connections may make central bank’s task hard, analyst says
Protectionist ‘threats’ from US could harm emerging markets – Kganyago
International concerns high on Sarb’s list at latest MPC discussion; uncertainty surrounding US economic policy leads to revision of headline inflation forecast
Fresh investigations into Sri Lankan bond scandal launched
Central bank and Sri Lankan president both investigating possible malpractice around bond sales to the central bank pension fund
CLS signs MoU with Chinese think-tank
The forex utility will work with the National Institution for Financial Development to support the renminbi’s internationalisation
Bank of Russia closes more small banks
Institutions shuttered for liquidity shortages and AML/CFT breaches, central bank says
Venezuelan president replaces central bank governor
Serving governor asked to resign, local reports say; new governor is strong political supporter of president
Bank of Mexico launches cost-cutting drive
Central bank move follows government austerity drive, and includes a target of a 10% cut to the wage bill
People: Frank Smets to head ECB economics department; new Chilean board member
Long-serving ECB economist becomes director-general; Chilean senate ratifies the appointment of Rosanna Costa; new communications director for Banque de France
EBA and Esma request clarification of CCP regulations
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
Non-banks may amplify risks from policy divergence, Nakaso warns
Non-banks may be less constrained than banks in supplying dollar funding, but it could dry up at the first sign of trouble; the BoJ starts stress testing foreign currency liquidity
EU watchdog enquires into Draghi’s membership of G30
NGO accuses ECB of being too close to financial industry
Basel set to decide on capital relief for accounting changes
Phase-in to IFRS 9 and Cecl needed to avert "a dramatic overnight drop in regulatory capital", say auditors
Denmark to trial primary dealer payments in effort to boost liquidity
Central bank says payments in exchange for tougher requirements should improve liquidity, which has shown signs of weakening
Bank of Italy sells off three ‘good banks’ for €1
UBI Banca agrees to recapitalise banks created from regional lenders
Draghi says ‘substantial’ accommodation still necessary for eurozone
ECB sets out new criteria for asset purchases; Draghi says headline inflation rises are driven by energy prices
Riksbank early warning indicator signals high risks
New measure of financial fragility performs better than credit gap method, economists say; current readings suggest risks are on a par with 2008
Yellen: Fed expects rates to hit long-run level by end-2019
Fed chair warns there could be a “nasty surprise” down the road if policymakers wait too long to raise rates
Minneapolis Fed launches new research institute
“Opportunity and inclusive growth institute” will draw on multiple disciplines to extend the Fed’s research
BIS paper finds Fed’s QE had little discernible impact on real economy
Results are still preliminary, authors say, but “cast some doubt” on the effectiveness of US quantitative easing
Money targeting key to Egypt reform programme
Central bank to maintain flexible exchange rates and keep a close rein on the money supply as IMF pledges $12 billion support
Xi says China is open for business as US turns away
China to become a bigger player in global markets as US seems to be turning inwards, says President Xi; firms looking to invest overseas
Central Bank of Nigeria bans banks from using digital currencies
CBN warns on AML-CFT risk to banks from dealings with “virtual currency exchangers”
‘Digital base money’ could hinder monetary policy, ECB official warns
Mersch examines means of issuing central bank-backed digital money to non-banks
Irish central bank sells old premises for €67 million
Move to new purpose-built premises due to be completed by end of first quarter