News
Lautenschläger floats idea of two-tier capital regulation for eurozone banks
Capital positions for large eurozone banks could be split into "requirement" and "guidance" levels, Sabine Lautenschläger says
Central bankers recognise technology as both friend and foe
Speakers at BIS conference see technology reshaping markets and regulation for better and worse, as Andrew Lo argues solution is to make the technology cope better with human “foibles”
Esma criticises European Commission plans for regulating NFCs
“Significant drawbacks” present in European Commission’s proposed approach to regulating non-financial corporations’ derivatives transactions, European Securities and Markets Authority argues
Belize governor worried about threat posed by ‘de-risking’
Regulators not fully taking note of uncertainty around regulation implementation; Caribbean region growth and financial stability “threatened” by pullback of global banks, governor says
People: Butler to stay on permanently at UK bank regulator; Poloz gets new adviser
Megan Butler extends contract at Financial Conduct Authority, taking up a permanent role as head of supervision; Sheryl King appointed new adviser to the governor at the Bank of Canada; and more
Somalian central bank gains support from IMF and World Bank
Central Bank of Somalia is backed by international financial institutions in its efforts to upgrade its technical capacities, and improve supervision of its banks and money-transfer businesses
Bank of Italy puts archive of annual reports online
Central bank includes all annual reports dating back to 1895, giving insights into many periods of instability over the last century
Cyber security tops agenda as Bangladesh heist report completed
Asian FSB members focus on improved cyber security, as committee investigating Bangladesh Bank heist submits its final report, with hints insiders at the central bank could be implicated
IMF approves larger credit line to Mexico
Fund expands flexible credit line arrangement to $88 billion; confident Mexico's policies "will remain strong"
Swift details plan to toughen cyber defences
Five “strategic initiatives” designed to help global financial community better prepare for future attacks, as Swift says it is "clear" the global community will be targeted again
Ukraine closes three further banks, offers reassurances on another
Ukrainian central bank closes down three medium and small commercial banks, while attempting to calm fears over the country's largest bank
Central Bank of Argentina raises reserve requirements
Argentina raises reserve requirements as it continues to fight high inflation; bank will introduce inflation-targeting regime in September
Bank of Jamaica lowers inflation target
Jamaica's central bank continues move towards inflation-targeting regime; bank forecasts inflation to fall within new target band by the end of the fiscal year
Olsen wins second term at Norges Bank
Øystein Olsen reappointed for second and final term as Norges Bank governor, seeing off competition from six other applicants, including a former governor of the Central Bank of Iceland
EBA reveals guidelines for first stress tests on deposit guarantee schemes
European deposit guarantee schemes must carry out stress tests including checks on member banks’ customer data, response to stressed conditions and cross-border co-operation
Central bankers hail first phase of global forex code
Central banks say they will adhere to new global code and hold their counterparties to a similar standard, as BIS working group unveils first part of project
Further key decisions loom in Greek negotiations
Major decisions remain in negotiations over bail-out; IMF staff insist on cuts to primary surplus target that have met with opposition; ECB may restore eligibility of Greek bonds as collateral
Philippines central bank reveals counterfeiting arrests
Central bank says it was behind four successful anti-counterfeiting operations in Q1; has the legal authority to make arrests and seize property
RBA caps interchange fees and surcharges
Reserve Bank of Australia completes two-year card review, implementing reform around surcharges and interchange fees; regulation now applies to ‘companion cards’
Iceland prepares for offshore króna auction
Date set for major step towards lifting capital controls, as holders of offshore króna are offered chance to swap currency, albeit at punitive rates
FSB warns more work needed on shadow banking assessments
Peer review finds implementation of the oversight framework remains at an "early stage"; urges authorities to make a host of improvements, including around data collection
Turkish central bank continues monetary ‘simplification’ process
Upper band of interest rate corridor cut to 9.5%; inflation will be the main indicator for future decisions, bank says
Board member appointed as next Czech governor
Rusnok has been on the board since 2014 and is a former interim prime minister; he will serve a term of “at least five years”, from July 1
Greek deal unlocks funds but delays debt relief
Deal allows possibility of future debt relief but drops IMF’s stronger demands; pushes most difficult decisions back