News
People: Bank of Finland names administration head; NBU appoints new director for pension fund
Bank of Finland will have a new administration head from January 1; National Bank of Ukraine hires a securities expert to lead the corporate pension fund; and more
UK's FCA unveils reshuffle amid criticism
Conduct supervisor admits supervisory model for small firms has been "under strain" as three directors quit; critical report due to be published this week
Irish government looks to lift restrictions on central bank disclosure
New bill will, if passed, allow staff at the Central Bank of Ireland to reveal certain confidential information to parliamentary committees
HKMA launches new liquidity facility
Discount facility for government bonds aims to provide greater flexibility for banks in meeting liquidity needs; HKMA also moves to ‘streamline’ bond tenors
National Bank of Ukraine to overhaul payments system
National Bank of Ukraine is upgrading its payments system with a view to widening its use; it is also exploring the use of mobile applications in making payments
Bank for International Settlements sees danger lurking beneath exuberant markets
Recent rapid 'flip-flopping' by markets from risk-on to risk-off and back reveals fragility hidden beneath buoyant asset prices, and central bank interventions may make the problem worse
Central banks in SE Europe publish 19th century data
Institutions in Albania, Austria, Bulgaria, Greece, Romania, Serbia and Turkey team up to shed light on ‘statistical dark ages’ going back to the Ottoman Empire in 1830
Basel Committee: US and EU capital rules still falling short
Basel Committee’s second assessment of compliance with Basel framework finds both EU and US are not complying in all areas, but both argue deviations are justified
Belarus central bank handed 12% inflation target
President of Belarus expects inflation to fall from 20% to 12%, while the central bank simultaneously reduces its policy rate by at least 500 basis points
Bank of Russia vows to carry out ‘unlimited' interventions to defend ruble
Central bank returns to market less than a month after allowing currency to float; cuts interest rates on forex repos
Argentina governor wants new growth model for LatAm
Central Bank of Argentina governor believes Latin American countries need to invest in infrastructure and boost internal production
Sweden's central bank and macro-prudential regulator clash over leverage ratio
Riksbank calls for stricter and earlier implementation of Basel III measure a day after Financial Supervisory Authority rejects proposals
Iceland introduces foreign currency funding rule based on Basel Committee's NSFR
Measure is intended to limit extent to which banks fund long-term lending in foreign currencies with unstable short-term funding; Three-year NSFR could be introduced in 2015
Qatari royal takes over oil fund
Previous CEO lasted little over a year before he was replaced by a member of the Qatari ruling family; sovereign wealth fund comes bottom in global governance and transparency rankings
Brainard says Federal Reserve monetary policy can ‘lean against the wind’
FOMC member says limited range of macro-prudential tools means Fed is more likely than some other central banks to use monetary policy for financial stability purposes – but there are risks
Brazil hikes rate but will deploy further measures ‘sparingly’
Central Bank of Brazil increases key interest rate by 50bp to 11.75% and says it will use additional measures ‘sparingly’; economists expect tightening to stop early 2015
Draghi plans showdown ‘early next year’
Governing council will reassess monetary stimulus in 2015; Draghi says he does not need unanimity to launch quantitative easing
Bank of Canada's Poloz defends language on household imbalances
Governor explains Bank of Canada has not changed its assessment of household imbalances, after describing them as a 'significant risk' to financial stability in policy announcement
BoE extends Funding for Lending Scheme
Scheme will continue for an additional year in a bid to boost credit provision to small businesses; Mark Carney admits lending to smaller firms is still problematic
EBA moving to iconic Canary Wharf tower
European Banking Authority will soon vacate its current offices in the City of London and take up residence in Canary Wharf
Gobind Ganga appointed governor of Bank of Guyana
Ganga handed the role on a permanent basis after serving as acting governor following the death of his predecessor in May; president also appoints new deputy
EU insurance stress tests reveal industry vulnerability to ‘Japanification’
Firms are vulnerable to a prolonged low interest rate environment and asset shocks, stress tests run between April and July show
Cleveland Fed researchers examine Taylor rules followed by professional forecasters
Research examines the relationship between private forecasters’ projections for inflation, unemployment and the federal funds rate; finds ‘tremendous’ differences
Swift wins Australian real-time payments contract
Contract represents new direction for the financial messaging service, with the final platform expected to go live in 2017