News
European Court of Justice to rule on OMTs after German court ‘fudge'
German constitutional court finds ‘reasons to assume OMTs exceed the ECB's mandate', but asks Europe's top court in Luxembourg to take the final decision
Oil revenue fraud in Nigeria has forced ‘tight monetary conditions' says Sanusi memo
Document purportedly submitted to Senate committee by central bank governor claims oil money embezzlement has made management of exchange rates and price stability ‘extremely difficult'
ECB unveils ‘co-operation framework’ for SSM
European Central Bank outlines how it will co-operate with national authorities in the forthcoming single supervisor mechanism; proposals open to public consultation
Fed's Plosser wants to end asset purchases by summer
Philadelphia Fed president and FOMC member who voted for the Fed's ‘measured' $10bn taper in January reiterates earlier calls to scale back QE at ‘faster pace'
Political impasse threatens SRM progress
European parliamentarians express frustration with the slow negotiations over the single resolution mechanism; Martin Schulz urges finance ministers to pick up the pace
ECB holds rates despite continued disinflation
European Central Bank holds refinance rate at 0.25% and shuns additional policy instruments despite inflation falling to 0.7%; attention turns to updated and expanded staff forecasts in March
Bank of Ghana hikes rates and tightens forex controls in bid to defend currency
Central bank raises interest rates by 200bp to 18% at emergency meeting; follows yesterday's decree that all domestic transactions must be denominated in local cedi
US Congress committee highlights Volcker rule anomalies
Fed's Tarullo among regulators grilled by US Congress over apparently arbitrary exemptions to the Volcker rule
Lagarde lends weight to global clamour for policy co-ordination
IMF managing director joins Rajan and others in renewed calls for monetary policy to take into account international spillovers, as Fed taper rocks emerging markets
People: Former PM joins Czech central bank; Bank of Canada appoints ‘special adviser'
Czech National Bank replaces outgoing board member with man who was Prime Minister until last week; Canada appoints special adviser with financial system expertise
Fed proposals for updated payments system meets with mixed response
Some industry practitioners tell Fed it should move faster on payments reform, though others argue if it isn't broken, don't fix it
Bank of England says BBA could co-ordinate response to banking cyber attacks
Sweeping exercise aimed at preparing UK banks against attacks against financial infrastructure by ‘hostile nation state' also sees some firms struggle with new dual regulatory structure
Reserve Bank of Fiji targets more effective communication
The central bank will build a new communications framework and resurrect plans for a financial stability report as part of its strategic outlook for 2014-18
ECB reshuffles executive board
Benoît Coeuré takes over international and European relations; Yves Mersch inherits payments and market infrastructure; Vítor Constâncio gets macro-prudential policy
Central Bank of Nicaragua appoints Ovidio Reyes president
General manager was made acting president when Alberto Guevara was stripped of his responsibilities in mid-January, but was only officially appointed on Thursday
Bank of Ghana brings forward rate decision as falling currency feeds inflation
The central bank's monetary policy committee will meet tomorrow instead of February 19 following further weakening of the cedi; analysts expect rate increase of at least 100 basis points
RBA changes tune on cash and exchange rates
Reserve Bank of Australia hints at a ‘period of stability’ in interest rates and welcomes the weaker Australian dollar
National Bank of Hungary honours Austrian governor
Ewald Nowotny receives Lamfalussy Award for ‘exceptional international efforts’; associated conference in Budapest features comments from a host of European central bankers
Ben Bernanke joins Brookings; State Bank of Pakistan promotes deputy to acting governor
Bernanke, who left the Federal Reserve on Friday, will engage in ‘research and writing' at the Washington think-tank; State Bank of Pakistan deputy steps up after governor's departure
Bank of England to lay off up to 100 staff
The central bank is looking to save £18 million over the next three years by making operations leaner; union representatives ‘strongly' oppose resulting redundancies
Banque de France official: Sepa delays incur 'collective cost'
Denis Beau says the market participants that missed the February 1 deadline for migration to the new credit transfer and direct debit schemes should switch as soon as possible
Zimbabwe central bank aims to regain LORL and rate-setting powers
The Reserve Bank of Zimbabwe set to offer overnight lending to banks at a rate based on government debt yields from the end of March; will also begin issuing government treasuries
ECB releases AQR framework
Danièle Nouy and Vítor Constâncio outline the ‘building blocks’ of the asset quality review; say recruitment for the SSM is progressing ‘at full steam’
Ingves calls for consistency in risk weights for credible capital ratios
BCBS chair says underlying differences in risk drive lion's share of risk-weight variations, but some arise from supervisory and practice-based idiosyncrasies