News
EBA report identifies issues stemming from use of macro-prudential tools to date
Survey of European use of macro-prudential tools to date reveals problems of overlaps and double counting, interaction with micro tools and bewildering diversity
UK government launches plan to improve BoE governance
Bank of England Bill proposes changes to committee structure, adjustments to the Court, establishing new roles and axing old ones, and audits to assess value for money
IMF calls on East African Community to explore risk-sharing
Paper explores the nature and prevalence of asymmetric shocks in the EAC, concluding it is ‘critical’ it has shared mechanisms for absorbing them when its members form a monetary union
Apra toughens mortgage risk weights for Australian banks
Australian regulator's move to end era of low home loan risk weights helps push banks toward top quartile for capital ratio
Obama nominates Michigan professor to Fed board of governors
Obama picks Kathryn Dominguez, a top academic from the University of Michigan, to fill the second of two vacancies on the board of governors
ECB raises concerns over Greece’s draft resolution law
Hastily assembled legal opinion on draft law warns of possible detrimental effects on the Bank of Greece, including impact on independence, increased liability and ‘operational burden’
RBNZ proposes measures to boost regulatory efficiency
Consultation following ‘regulatory stocktake’ proposes refinements aimed at cutting unnecessary costs resulting from regulatory expansion in past decade
Ukraine central bank donates armoured cars to military
National Bank of Ukraine hands 90 vehicles to military, more than half of which are armoured cars previously used to transport cash, as part of project to dispose of ‘non-core assets’
Greece uses bridge loan to repay IMF and ECB
Loan received today used immediately to repay debts, while government works to unlock full bailout; Ben Bernanke joins debate with criticism of German trade surplus
Hungarian deputy quits to head commercial bank
Ádám Balog will leave his post on July 22 to become chair and CEO of MKB Bank; joined central bank in March 2013 alongside governor György Matolcsy
Obstfeld will succeed Blanchard at IMF
Lagarde praises the ‘outstanding academic credentials’ of Obstfeld as she announces his appointment as economic counsellor and director of research
First cross-border repo executed in Chinese bond market
ICBC's Singapore branch raises 200 million yuan on China's interbank bond market in first deal since PBoC scrapped limits on offshore access to $5.7tn market earlier this year
CCPs urged to implement liquidity risk charge
Quant Congress USA: liquidity charge might have exposed London Whale, academic claims
Fischer laments lack of coordination between US regulators
Fed vice-chair says most countries manage to supervise their financial systems in a more cooperative manner than in the US, but he holds little hope for change in the near future
Central Banking Awards 2016 open for entry
Chairman of Central Banking editorial advisory board invites central banks and other stakeholders in the community to submit for this year’s awards
Martin Wheatley resigns as FCA chief executive
FCA chief quits after it emerges the UK chancellor will not be renewing his term next year; worldwide search begins for successor
People: Trinidad gets new deputy, Bulgaria nominates three
Academic Sandra Sookram joins the Central Bank of Trinidad and Tobago; Dimitar Radev nominates three deputy governors on his first day leading the Bulgarian National Bank; and more
Iceland offers pension funds relief from capital controls
Pension funds will have access to a limited amount of foreign currency in an effort to smooth the transition as controls are lifted
Fed economist sees gaps in CCP risk management
Quant Congress USA: CCPs struggle to model conditional losses and auction behaviour
IMF economists release study on LTV and DTI limits in six countries
Working paper studies the implementation and effectiveness of loan-to-value and debt-service-to-income limits in Brazil, Hong Kong, Malaysia, Poland, Romania and South Korea
PBoC opens interbank bond market to foreign central banks
Move is among the most significant towards RMB liberalisation since QFII, says StanChart's head of central banks; quotas are scrapped and central banks can register for licence through third parties
ECB lifts veil on ELA as it raises Greek cap
No action on monetary policy but governing council extends further lifeline to Greek banks; Draghi admits policy of keeping emergency liquidity secret is unnecessary in a systemic crisis
China Treasury bond futures hit by cash equity volatility
Increase in volatility as traders exit positions to fund equity portfolios
Bank of Canada cuts rates to support ‘complex adjustment’
Central bank says economy needs additional support as it restructures in response to complex impact from oil price shock; fears remain over imbalances in household sector