News
IMF amends SDR calculation method
Exchange rates used to calculate SDR to be obtained from a commercial provider by the Bank of England, in effort to make methodology more “robust”
RBS issues first polymer banknotes
Polymer note printed on De La Rue ‘Safeguard’ substrate is first in RBS's new series; Scottish novelist and poet Nan Shepherd features on the front of the note
Riksbank signals low rates will stay longer
Swedish central bank says rates likely to remain on hold for longer than planned, with chance of an inter-meeting asset-purchase extension
EBA recommends tighter regulation of European banks’ ‘large exposures’
Report calls for stricter limits on bank exposure to single clients and cautions against premature application of “standardised approach” to large exposures
ECB issues latest macro-prudential bulletin
Papers look at second order effects of financial shock, de-risking and high-frequency trades
RBNZ moves to publish policy rate forecasts
Central bank scraps forecasts of 90-day bank bill rate as relationship with policy rate has been affected by global regulatory changes
Chile’s Vergara to pass torch to Marcel
Mario Marcel is chosen to become the next central bank governor when Vergara’s term ends in December; Marcel has experience at the World Bank, OECD and IDB
Andrew Bailey looks to reboot UK conduct regulator’s ‘mission’
New chief executive seeks to clarify approach after stumbles in past years, admitting global understanding of conduct regulation still at an early stage
Carney: I will stay ‘as long as I can’
Carney says the decision to stay or go will be “entirely personal”; Bank of England governor says central bank will not “slavishly rely” on QE
ECB's bank watchdog warned on NPL clean-up drive
SSM may need clearer enforcement process to boost bad loan provisioning, says regulator
Canada opts to retain 2% inflation target
Bank of Canada will continue with current target in new five-year deal with government, though other aspects of the policy framework are changing
New high for reserves a sign of 'growing confidence' in Argentina – Sturzenegger
Reserves breach $40 billion mark after treasury bond sale and climbing export levels; contribution from overseas investment starting to be felt, government says
Blanchard and Acalin warn of FDI measurement problems
Measured foreign direct investment is not as long term as generally thought, often reflecting transient capital flows and responding to US monetary policy, economists find
People: IMF appoints new head of Independent Evaluation Office
Iceland names director of financial stability and Russia appoints head of banking regulation
Hungarian central bank delays introduction of capital buffers
Move taken “to support lending” as banks sell off portfolios of “problem loans”
Japanese survey throws light on financial education problem
First large-scale study of financial literacy shows many people have poor understanding, contributing to higher loss aversion, herding behaviour and other problems
Central Bank of Iceland gains new powers as more controls lift
Central bank given new powers over information gathering as legislation establishes next phase of capital control liberalisation
Philippines central bank adopts renminbi as reserve asset
Central bank joins a cohort of countries adopting the Chinese currency as a standalone asset; governor says it is an important development for a nation so dependent on Chinese trade
Bahamas makes $200,000 donation in wake of Hurricane Matthew
Central Bank of the Bahamas contribution of $200,000 to relief effort is in addition to typical policy responses; $50,000 being donated to relief efforts in Haiti
Bank of Uganda takes control of large commercial bank
Ugandan central bank takes over the management of Crane Bank, the commercial bank; clarification issued over use of governor’s signature
Systemically important investment firms should come under CRR and CRD-IV, EBA says
European Banking Authority calls on regulators to re-examine guidelines for identifying most important investment firms
Ukrainian central bank says proposed law is attack on its independence
Passing law could lead to a cut-off of IMF aid, the central bank warns; calls on country’s president to repudiate law-makers
Draghi postpones decision on extension of QE
ECB president is aiming to build governing council support for further asset purchases, one analyst argues
Brazil makes first interest rate cut in four years
Upbeat inflation figures prompt Central Bank of Brazil into action as Copom unanimously votes for 25bp cut; post-decision statement implies further cuts possible this year