News
Troika warns Greek capital buffers may be insufficient
Troika's warning of ‘upside risks' if Greek banks are not ‘swiftly' recapitalised contrasts with optimistic statement put out by Bank of Greece on March 6
Chan wins another five-year term atop HKMA
HKMA chief executive praised by Hong Kong government for his steady hand on the tiller throughout the financial crisis and developing Hong Kong as an offshore renminbi centre
Fed sends mixed messages on future interest rates
Dovish statement by FOMC yesterday signals low interest rates for ‘considerable' time after QE ends, but voting members' projections see interest rates heading upwards
Europe's banking union gets single resolution mechanism
Compromise deal is reached over single resolution mechanism, which will have a fully mutualised resolution fund within eight years
UK to introduce ‘world's most secure coin', claims the Royal Mint
New £1 coin first ever to feature banknote security technology; ‘could potentially change the way coins are made in the future', UK's Royal Mint claims
Carney puts collaboration at core of new BoE structure
Mark Carney outlines plan to take the Bank of England to the forefront of timely, cross-bank policy-making; concern his shake-up may result in a lack of specialist expertise among some unit heads
Danish central bank likens Bitcoins to 'glass beads'
National Bank of Denmark issues note highlighting the differences between Bitcoins and fiat currencies; stresses that virtual currencies have no inherent value
Kuroda confident of hitting inflation target
Bank of Japan governor Haruhiko Kuroda says economy is following the path to 2% inflation ‘as expected’; fellow board member Takahide Kiuchi has ‘more cautious outlook’
Carney unveils major BoE shake-up
‘Minouche' Shafik to become BoE's first deputy governor for banking and markets, replacing Paul Fisher on MPC; external MPC member Broadbent also made deputy governor
German court rejects challenge to ESM legality
Constitutional court backs Germany’s participation in European Stability Mechanism; Basel Committee rules that banks do not have to hold capital against ESM bonds
Bank of Mozambique wins IMF praise for anchoring inflation as economy takes off
IMF mission finds the Mozambican central bank is containing rapid credit growth and inflation as the economy grows amid heavy government investment
ECB reveals plans for supervisory board minutes
Danièle Nouy says the supervisory board will submit a record of proceedings to the European Parliament on a quarterly basis
BoE praises implementation of new loss-allocation rules for clearing members
Bank's first annual report on supervision of financial market infrastructure since assuming oversight responsibilities for central counterparties last April
Crimea establishes its own central bank
Crimea, which voted yesterday to leave Ukraine to join the Russian Federation, has established a central bank to see it through a transitional period of independence
PBoC doubles reminbi trading band
The People's Bank of China announced this weekend it will double the renminbi's trading band to let it fluctuate 2% either side of the bank's daily reference rate
World should brace for impact of rising Chinese exports, report warns
Array of ‘major problems’ afflicting the Chinese economy is likely to require renminbi devaluation, with knock-on effects for the rest of the world, research warns
Fate of renminbi market contingent on Chinese authorities’ resolve
Central bank officials from the UK and continental Europe agree the internationalisation of the Chinese renminbi is contingent on progress of Chinese reform
Gallery: Central Banking Awards 2014
Paul Volcker was the ‘guest of honour’ at the inaugural Central Banking Awards
HKMA rebukes UBS over attempts to rig Hibor
Hong Kong central bank finds six traders at UBS tried to influence the bank’s Hibor submissions between 2006 and 2009; demands remedial action
Reserve managers ‘obsessed' with short-term results, says Passacantando
Former Bank of Italy managing director says central bank reserve managers should take a longer-term view with their investment decisions
Reserve managers stress importance of portfolio transparency
Public report offering detailed disclosure of investment decisions results in reserve managers having 'little to fear', says the Central Bank of Colombia's Marco Ruiz
Polish economist encourages ‘broad’ collateral acceptance
National Bank of Poland’s head of monetary policy analysis identifies risks in central banks adopting an overly loose or overly tight collateral framework
Fed nominee Fischer grilled on Citi ties
Former Bank of Israel governor faces tough questions on ‘revolving door’ between Citigroup and top US government roles; fellow candidates Lael Brainard and Jerome Powell also testify
BoE floats bonus clawback plan
Prudential Regulation Authority issues consultation on new powers to claw back bonuses in case of misconduct; Katharine Braddick reiterates ‘misgivings’ about bonus caps