News
EBA zeroes in on recovery and resolution trigger conditions
European Banking Authority publishes final guidelines on testing for bank failure and launches consultation on what conditions could trigger a resolution process
UAE governor replaced after 23 years in job
Sultan Bin Nasser Al-Suwaidi will be replaced as governor by Mubarak Rashid Al-Mansouri, who is currently CEO of the Emirates Investment Authority
Portuguese central banker warns new €10 banknote may not be accepted by all vending machines
Bank of Portugal board member says he cannot guarantee the note will be accepted by all machines, as owners are responsible for making necessary software changes
BoE's Bailey calls for ‘much more systematic approach' to financial sanctions
Bank of England's senior prudential regulator recognises need for clear understanding of when and to whom sanctions apply; calls for greater international co-operation
New York Fed blog to make DSGE forecasts public
Federal Reserve Bank of New York publishing five-part series on DSGE model and how it is used to forecast inflation and output in the US economy
Draghi defends TLTRO allocation of €82.6 billion
ECB president tells Econ Committee last week’s targeted LTRO ‘within the range of take-up values’ he expected; outlines shift to ‘more active’ management of balance sheet
Philadelphia Fed president Charles Plosser to retire
Vocal critic of unconventional monetary policies to leave FOMC in March 2015; Yellen says she will miss ‘keen insights, deep analysis and good humour'
Carney hints at coming shift in FSB focus
Mark Carney says Financial Stability Board will need to shift its focus towards ‘evolving’ threats such as shadow banking; ending too-big-to-fail high on the agenda for Brisbane G-20 summit
Argentinian government will use 42% of central bank’s dollar reserves in 2015
The Central Bank of Argentina will lose $11.9 billion of its international reserves in 2015. In exchange, they will receive bonds with an amortisation period of 10 years
Julio Suárez appointed next Bank of Guatemala president
Vice-president has been appointed to lead the central bank by the Guatemalan government, and will take office on October 1
PBoC signs $1.63bn swap deal with Central Bank of Sri Lanka
Three-year arrangement between Chinese and Sri Lankan central banks follows deal in August allowing the latter to invest in China's interbank bond market
Debit card fraud losses rise 13.1% in two years in the US, report shows
Fraud losses associated with debit card transactions in the US rose to $1.57 billion in 2013, according to a Fed report, but the amount lost per transaction was relatively stable
FOMC's Lacker denounces committee's new normalisation principles
Richmond Fed president says FOMC expectation not to sell MBS as part of balance sheet reduction flies in the face of half-a-century's worth of Fed practice
Central Banking poll finds tepid response to EU stress tests
Some 60% of respondents to Central Banking poll say the EU stress tests are ‘not stringent enough’; ECB will release results for eurozone banks along with AQR findings next month
People: BoE legal adviser to retire in April 2015; Banque de France appoints new deputy director
BoE loses chief legal adviser next year; Banque de France promotes its director of risk operations; Czech National Bank names new deputy director; and more
Sarb governor Gill Marcus to step down
Governor of South African Reserve Bank will leave when her term expires in November; move came as a surprise to many market watchers
FOMC to raise rates before shrinking balance sheet
Federal Reserve unveils principles for policy ‘normalisation' as members' calls for rate hike grow louder; normalisation not necessarily expected to 'begin soon'
ECB releases rotation schedule for voting governors
New voting rotation system sees Spanish, Irish, Greek and Estonian governors sit out first decision in January; ECB allots €82.6 billion to 255 banks in first targeted LTRO
Barnier hints at longer pensions clearing exemption for OTC derivatives
The EC's outgoing head of internal markets, Michel Barnier, has hinted the Commission will extend a pension funds derivatives clearing exemption beyond 2015
Mortgage credit subsidies 'disastrous for the poor'
Credit subsidies a ‘short-sighted palliative for addressing economic inequality', argue leading academics in Central Banking Journal article
Brazil’s central bank staff complete second day of strike
‘Technical’ workers are seeking greater recognition as more roles are taken by ‘analysts’ that earn higher salaries; central bank says protests have not affected its core activities
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
FSB estimates of Chinese shadow banking fall short of target, IMF representatives suggest
FSB's ‘filtering out' of parts of the non-bank financial system in China paints incomplete picture, IMF Asia division chief and HK representative say
‘Flower power’ drives new Dominican Republic banknote series
The Dominican Republic is issuing upgraded banknotes to include the country’s new national flower; Israel and eurozone also introducing new notes in the market