News
Serbian central bank report indicates slow progress on reversing ‘euroisation’
Most loans and deposits in the country are still denominated in foreign currency, National Bank of Serbia report shows
Irish central bank publishes minutes of first macro-prudential committee meeting
Governor and senior staff approve current O-Sii and C-Cyb plans; intend to look further at impact of macro-prudential measures on housing markets
Pelaelo to take over as Bank of Botswana governor
Deputy has risen through the ranks and will replace Linah Mohohlo on October 20; president announces his decision through social media
UK inflation jump to 1% is just ‘tip of the iceberg’
Latest inflation data shows leap from 0.6% in August to 1% in September; former MPC member Sentance says this is just tip of the iceberg
Ukrainian central bank drops open forex auctions
National Bank of Ukraine aims to “minimise its presence” in the foreign exchange market by dealing directly with large banks via a closed system
QE is not hurting pension funds, says Broadbent
‘Material constraints’ not seen yet, says BoE deputy governor, who believes problems are being driven by more fundamental causes
Asia’s longest-serving governor to step down
Perng Fai-nan says he will retire as governor of Taiwan’s central bank when his fourth term ends in 2018 following two decades of strong currency and financial stability management
People: Finland appoints two central bank board members; Atlanta Fed promotes senior managers
Former European Commissioner Rehn joins Finnish board; Atlanta Fed makes four promotions; Switzerland changes regional delegate
Fed might stimulate labour market with ‘high pressure’ economy
Fed president floats idea of dealing with weak labour markets by “high-pressure” economy; Boston Fed’s Rosengren points to key ‘puzzles’ in data on US economy
Asia resolution rules risk conflict with G-Sib home regulators
Branches fear local regulators could ask banks for confidential home market information
Bank of Russia records decrease in fraudulent transactions
Central bank says decrease in cyber crime is a result of new centre for Cyber-Attack Monitoring and Response in the Financial Centre; official says Bank of Russia supports initiative for harsher punishment of cyber crime
Ghana drafts first electronic payment regulation
New regulation will apply to banks and other financial institutions wanting to provide electronic money services; draft to be passed to parliament after a period of consultation
BoE officials admit need for clearer communication
Mark Carney joined by deputies and COO at bank’s latest open forum, fielding questions from the general public; concerns surrounding funding for small enterprises and the bank’s rhetoric addressed
Irish central bank issues first fine under ‘related parties’ code
Case is first brought under code governing deals with “related and connected parties”
BoE corporate bond purchases off to rapid start
Barely more than two weeks into the 18-month programme, the BoE has already filled more than 10% of its quota; gilt purchases continuing at steady rate
EBA sets out 2017 work programme
Authority will undertake “re-prioritisation exercise” after European Commission does not meet full staff request
Sarb establishes anonymous whistleblowing hotline
New external hotline provides facility for the public to report misconduct to the central bank
Leaked document sparks action from Sri Lankan central bank
Report leaked on controversial bond trader Perpetual Treasuries causes stir; internal control mechanisms will be strengthened while investigation takes place
Basel Committee outlines plans for ‘fundamental change’ of IFRS 9
Task force to consider impact of expected credit loss approach on regulatory capital, while consultation lays out interim plans
Ukrainian governor attacks politicians over allegations of criminal complicity
Gontareva describes accusations against her as “nonsense”; says politicians are holding up passage of law designed to confiscate assets held by criminals
No ‘insidious’ German plan for EMU competitive advantage, says Issing
Otmar Issing says Germany didn't even have 'the economic intelligence' to design such a plan; country suffered years of high unemployment as others such as Italy failed to capitalise on price stability
Swift users attacked again by new malware – research
Cyber security firm finds Swift users are being attacked by a second hacking group, using malware that manipulates logs and messages, removing them from client systems
Euro architect says ECB has ‘destroyed’ market discipline in Europe
Otmar Issing, the man who designed the operational framework for the euro, says failures by European politicians and the ECB mean “all the elements” are in place to bring “disaster” to the monetary union
Coen seeks to quell European fears on Basel III
European parliament members accuse Basel Committee of favouring US over European banks; William Coen says “Basel process” is transparent and not dominated by any one interest