News
Draghi encourages ‘greater role’ for fiscal policy
ECB president says a policy mix of monetary, fiscal and structural measures is necessary to keep the eurozone recovery on track, in his remarks at Jackson Hole
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
CentralBanking.com will return on Tuesday, August 26
Due to public holidays in the UK, CentralBanking.com will not publish a news alert on Monday. Normal service will resume on Tuesday, August 26
Conditions ‘in place’ for repo expansion in East Asia and Pacific
Report published by central bankers in the Asia-Pacific region finds that repo markets are ‘not as large as might be expected’, but conditions are in place for them to grow
Carney urged to help end masking of swap counterparties
'Ambitious but realistic' deadline could be set for banks to stop hiding counterparty details – the industry’s response to a conflict between privacy and reporting rules
Israeli officials look to remove obstacles to securitisation
Joint team of financial regulators renew efforts to promote securitisation; former deputy governor Zvi Eckstein backs proposed legislative changes
Sri Lankan central bank to spend $760,000 lobbying in US
Central bank hires US company to lobby politicians and businesses in effort to prevent ‘adverse publicity’ eroding investor confidence and undermining economic stability
Bosnia's central bank opens new premises in Banja Luka
Main Serbian branch of Bosnia's central bank moves to new purpose-built premises, as its old building provided ‘inadequate' conditions for its 43 staff
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
Monetarist view cannot explain eurozone inflation woes, Nobel laureate warns
Christopher Sims says lack of co-ordinated fiscal action dooms eurozone to prolonged lowflation, at German conference for economics Nobel prize winners
Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee will hinder abuse of expensive ATMs and promote its cash-less policy; fee was abolished in 2012 to encourage use of ATMs
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Norway SWF manager doubles leadership team
Norges Bank Investment Management sets up separate ‘leader group' for real estate investments; wealth fund returns 3.3% ($31 billion) in second quarter
IMF researchers say CCBs ‘show less promise’ than other macro-prudential tools
Working paper finds counter-cyclical capital buffers are less effective than measures aimed at banks’ assets and liabilities in reducing the rate of asset growth on their balance sheets
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy
Angola SWF to send students to Switzerland as it ‘invests in investing'
Petroleum fund will pay for bright young Angolans to study investment in Zurich; move follows advice from abroad that investment capacity should be built up
Bank of England MPC sees first dissent since 2011
McCafferty and Weale vote to raise interest rates, minutes show, as conflicting labour market developments split committee's view on UK spare capacity
Bank of Albania toughens checks on employees as governor clings on
Governor Fullani contradicts central bank statement that his dismissal was discussed; employees will be required to disclose divergent 'behaviours or opinions'
Fed orders banks to break open black boxes
Vendor models need to be properly validated for 2015 stress tests, Fed insists – but banks say they are finding it hard to get the required information
Philippines achieves ‘meaningful’ progress towards financial inclusion
Central bank assesses state of inclusion in the country; finds 3.6 million new deposit accounts were opened in 2013, while the total value of deposits rose by 32%
Cœuré sees cyber threats and virtual currencies rising on payments agenda
Chair of the CPSS suggests the organisation should look beyond securities and derivatives markets in the 25th anniversary edition of Central Banking journal
Trinidad governor blocks publication of reports that could ‘undermine confidence' in central bank
Jwala Rambarran obtains injunction against newspaper to prevent ‘dissemination of defamatory libel' after central bank's security system was hacked
Hungary central bank hits back over profligacy claims
Central bank takes exception to Financial Times blog on its purchase of a holiday home, saying many other central banks have them too
RBA appoints John Simon research head; UK Payments Council names interim CEO
Reserve Bank of Australia promotes John Simon to head of economic research department; Payments Council says Maurice Cleaves will start as interim CEO in November