News
EU Parliament poised to reject two Esma technical standards on OTC derivatives
Parliament is unhappy with the treatment of corporate end-users, and could require Esma to redraft standards
Payments update proposed for UK money markets
Bank of England reveals details of new clearing and settlement system for gilt repos; executive director Chris Salmon encourages market participation
Ingves deflects criticism of ‘complex’ Basel III framework
Basel committee chairman says it is naïve to think complex banks can be regulated by simple rules, following criticism of Basel III’s ‘overly complicated’ system of risk weights
Bank of Italy steps in to investigate ‘hidden' derivatives deals
Central bank to investigate Monte dei Paschi di Siena trades in collaboration with judicial authorities, as the Italian bank seeks €500 million in 'Monti bonds' to cover potential losses
Mixed reactions from banks as ECB prepares to wind down LTROs
Repayment window for LTROs set to open on January 30; some commentators raise concerns over possible monetary tightening, while others view early repayments as sign of financial health
Carney insists Bank of Canada will tighten policy despite holding rates again
Mark Carney says the withdrawal of monetary stimulus is postponed, but not cancelled, as Bank of Canada’s governing council holds rates again
Central Bank of Colombia faces presidential call to cut rates
Colombian central bank under pressure from lawmakers and bankers to lower interest rates as growth falters and inflation dips below target
Draghi optimistic as ‘darkest clouds’ in euro area subside
ECB president Mario Draghi praises the euro area’s achievements in 2012, and urges countries to be unrelenting in their pursuit of reform
UAE central bank launches lending cap consultation
United Arab Emirates central bank responds to finance community's concerns by sending a questionnaire to canvas opinion on home loans caps
Bank of England unwavering in support for inflation target
MPC members hold interest rate and asset purchases to keep inflation on course to reach 2% in medium term; King condemns replacing price stability with economic growth target
BoJ says onus for recovery is now back with the government
Bank of Japan says monetary easing has ‘thoroughly permeated' the financial system; shifts onus back onto the government to tackle structural problems that are holding back growth
Bundesbank president staunchly defends independence
Jens Weidmann speaks out against the increasing politicisation and expansion of central bank mandates
Nigerian central bank tells government to act on oil
Monetary Policy Committee cautions government against ‘complacency’ in tax revenue collection and says swift action is needed to support the struggling oil industry
Gold is no inflation hedge, says RBI deputy
Kamalesh Chandra Chakrabarty disputes status of gold as a safe asset or hedge against inflation, arguing that as the gold price increases, so do risks
Fears over BoJ independence as central bank bows to government
Commentators express concerns over the Bank of Japan’s independence as the central bank introduces 2% inflation target and open-ended asset purchases
BoE's Haldane says UK could redefine global banking rules
Andrew Haldane says UK is in a position to ‘lead with the front foot' on fixing the shortcomings of Basel III, tightening remuneration policies and removing barriers to bank account switching
Iran parliament votes to investigate central bank
Iranian central bank governor reportedly dismissed by Supreme Court over illegal withdrawals from the banking system; investigation to look into conduct in forex market and 'other issues'
Stricter governance standards proposed in Cayman Islands
Cayman Islands Monetary Authority hopes to create a database with basic details on every financial institution it regulates; directors seeking to sit on six or more boards will be scrutinised
PBoC launches short-term liquidity operations
China’s central bank now offers repos and reverse repos with maturities of less than seven days; seen as a step towards interest rate liberalisation
IMF sees southern European free-fall begin to slow
Mission chief for Greece says painful adjustment proceeding ‘apace’, although questions raised over potential €9.5 billion funding gap; Fund praises ‘impressive policy effort’ in Portugal
Fed researchers plot balance sheet exit strategy
Federal Reserve economists project possible routes towards returning the balance sheet to a 'normal' size, finding that the process should only have a temporary impact on the Fed's income
Dallas Fed calls for a return to 'traditional' system of smaller banks
Special report advocates limiting the size of banks; champions a return to less public support and greater market discipline
Ex-BoE policymaker Goodhart favours expanding balance sheet over NGDP target
Charles Goodhart says incoming BoE governor should buy a wider range of private sector assets; warns against nominal GDP level target
People: Dijsselbloem bids for Eurogroup chair; Sanusi takes reins at WAMZ
Eurozone finance ministers to elect new chair on Monday; West African Monetary Zone chair passes to Nigeria governor; Finland picks audit head