News
European Commissioner cautions US on TLAC rules
Dombrovskis says foreign banks should not be mistreated by Fed internal TLAC proposal
Bank of Russia announces prototype distributed ledger networking tool
Central bank planning further DLT prototypes, deputy governor says; Russia is excluded from using prototype DLT tools used in Western countries
European commercial bond market may suffer from lack of liquidity, ESRB says
Banks complain of effect of European regulations on liquidity; reporting on European fixed income markets still has “significant information gap”
Broadbent defends BoE position amid pension criticism
BoE deputy says ultra-low interest rates are not main culprit behind rising pension deficits, though IMF says pension funds and insurers are at risk from central bank action
Ysaguirre leaves Central Bank of Belize
Former energy minister replaces central bank governor as term comes to an end; Joy Grant will take charge as economy struggles
Mohohlo to step down after 40 years at Bank of Botswana
Bank of Botswana pays tribute to longest-serving governor, highlighting her achievements in reforming the institution; president will nominate successor
Special purpose vehicles make ‘very limited’ contribution to GDP – Irish central bank study
Study permits a better analysis of "shadow banking" sector, authors say; concentrates on non-securitisation vehicles
Esma says regulators should wait before imposing quantitative SFT haircut triggers
Decision on policy change should wait until 2018, authority says; chairman says “sheer size” of market makes transparency important
Low growth and low rates to hit financial stability, says IMF
Weak outlook is likely to feed into medium-term problems for financial stability, fund warns; Basel Committee may have to delay agreement on final framework
Fed task forces begin review of faster payments proposals
Payments firms have submitted plans for real-time payment systems and toughened payments security; merits of plans to be assessed over coming year
Nabiullina promises ‘profound’ structural change for Russian banking supervision
Current structure “insufficient” to solve Russia’s problems, governor says; first deputy governor Tulin to oversee regulation and supervision
Hike now to avoid more action later, says Fed’s Lacker
Richmond Fed president adds his voice to growing number of Fed officials calling for rate hike; Loretta Mester insists proximity to US election need not prevent action at next meeting
Banks leaving London for Dublin must be ‘run from here’ - senior Irish official
Central bank planning to recruit more regulators if necessary, Cross tells financiers; hints at possible need to boost salary packages for some staff
IMF: Central Bank of Iran should ‘streamline’ committee membership
IMF assessment warns of committees “dominated” by government agencies; fund stresses the central bank should limit membership to its senior officials and independent experts
RBI’s new MPC cuts rate at first meeting
Debate was “frank, often intense, but always friendly” says governor Urjit Patel, after monetary policy committee votes unanimously for a cut
EBA dashboard shows capital on the rise but NPLs remain a worry
Regulators’ quarterly risk assessment shows EU banks’ capital ratios have ‘slightly increased’, but loan portfolios remain an issue
Maskin: technocrats should set eurozone fiscal policy
Harvard economist argues a technocratic body similar to a central bank could set spending and revenue targets in eurozone before allowing politicians to determine the details
IMF financing ‘constrained’ policy space in Ukraine, report finds
Earlier debt financing would have been useful for Ukraine, report says, while praising central bank efforts to stabilise the financial system
DRC central bank more than triples rate amid reserves squeeze
Congo central bank raises headline rate five percentage points as foreign reserves continue to dwindle; economy is suffering from copper slump and difficult external environment
Inflation worries prompt action from Bank of Mexico
Central bank hikes interest rate by 50bps in last monetary policy meeting before the US presidential election; peso proves volatile in face of international events
Global sharia standards desirable, but impractical – Lebanon’s el Gemayel
Complete standardisation impractical, but other options are available, says Central Bank of Lebanon’s Joëlle el Gemayel; Islamic banking landscape is shifting
Central banks must do more on green finance – UN report
Current progress is not enough to deliver long-run stability; central banks should work with other stakeholders to align the financial system with climate change goals, UN report says
People: RBNZ appoints new board chair; reshuffle of senior management at Australian central bank
Reserve Bank of New Zealand replaces board of directors’ chair after 10 years at bank; assistant governors swap roles at the RBA as the bank looks to hire new talent; and more
EBA default standards could prove ‘burdensome’, banks warn
Implementation likely to be costly, especially for IRB-based firms, authority admits; standardisation necessary in view of wide range of current practices