News
Dudley leads Fed speeches as December meeting looms
William Dudley says conditions necessary for rate hike ‘could soon be satisfied’ but notes concerns about inflation outlook; Evans, Fischer and Lacker also speak on US outlook
Speed of response a good proxy for risk culture, FCA director says
Good risk culture makes firms more responsive and can help avoid nasty fines, says UK regulator’s head of enforcement
ECB aims for single policy on ‘options and discretions’ with new proposals
Central bank publishes draft documents aiming to create a single policy for the exercise of options and discretions under banking law in financial systems it regulates
FSB refines shadow banking definition with new ‘activity-based’ measure
Attempt at greater precision estimates shadow banking sector represents around 30% of non-banks; final framework for securities financing transactions published
Level playing field could help ‘unlock’ Islamic finance potential, says Lagarde
Speakers at the Islamic Finance Conference in Kuwait highlight the growth benefits of financial inclusion, especially for underserved parts of the Muslim population
Decisions on ELA could be shifted to ECB
Mario Draghi says ‘intricate’ framework for providing emergency liquidity assistance could be reviewed in light of banking union; potential for decisions to become ‘more European’
Open Forum: Market maker of last resort presents host of issues for central banks
Axel Weber and Minouche Shafik point to perils for central banks looking to step into the role of market maker during a liquidity crisis
Open Forum: BoE event highlights gulf between perception of public and regulators
Open Forum attempts to break new ground in communication, but a sense emerges that regulators have failed to address public dissatisfaction with financial markets
Bank of Namibia defends currency deal with Angola
Namibia's central bank addresses stakeholders' concerns over its currency conversion agreement with the National Bank of Angola, including the latter’s ability to buy back kwanza
RBNZ: Auckland housing risks have increased
New Zealand central bank warns Chinese slowdown could affect banks' funding costs as house prices-to-income ratios rise to record highs; effect of macro-pru rules ‘too early to judge'
Neel Kashkari to head Minneapolis Fed from 2016
Federal Reserve Bank of Minneapolis reveals Neel Kashkari will succeed Narayana Kocherlakota as president; past experience includes oversight of Troubled Asset Relief Program
Rajan picked as BIS board vice-chair as he calls for global ‘rules of the game’
RBI governor chosen to take over position Masaaki Shirakawa vacated in 2013; delivers lecture in Frankfurt calling for global ‘rules of the game’
Basel Committee proposes lighter capital for ‘STC’ securitisations
Simple, transparent and comparable securitisations might not need as much regulatory capital as they do under the current framework, proposals suggest
Zhou expects RMB to account for one-third of global payments in 2020
PBoC governor outlines economic objectives over coming five years in sweeping article; looks to 'phase out' quota system and improve reserve management
ECB publishes first quarterly statistical report on households
The European Central Bank publishes its first quarterly statistical report on the eurozone’s household sector; underlying figures available online in data warehouse
Czech governor casts doubt on Basel III
Miroslav Singer says he is ‘very sceptical’ about the shift from the second Basel accord to the third in an interview with the Central Banking Journal
UK authority calls on banks to help tackle cyber crime
UK National Crime Agency calls on banks to collaborate with authorities to reduce fraud
Different economies need different types of structural reform, IMF paper finds
Economies at different levels of development need different types of structural reform, a policy paper by the International Monetary Fund says
‘Disclosure task force’ can tackle climate risks, FSB says
Industry-led group would develop voluntary disclosures relating to climate change; Mark Carney says better information could head off a ‘climate Minsky moment’
FSB unveils final TLAC standard
Global systemically important banks will need to build sizeable stocks of loss-absorbing capacity by 2019; many jurisdictions are lagging behind on implementing resolution framework
Sarb’s Mminele fears a ‘lengthening drought’ in emerging market capital flows
Sarb deputy warns emerging market nations must maintain “utmost vigilance” as they are buffeted by the effects of divergent monetary policies and fears about the state of the Chinese economy
Lawmakers eye Fed surplus funds as source of cash
Late amendment to ‘highway bill’ sees the House of Representatives vote to raid the reserve banks’ surplus funds instead of cutting the dividend paid to member banks
Central Bank of Iceland under scrutiny on crisis response
Supervisory board to investigate complaints over the handling of breaches in capital controls and legal uncertainty surrounding the holding company established by the central bank
Belarus to re-denominate its currency from July 2016
Ruble to be cut to one ten-thousandth of its value when new series rolled out; new banknotes printed years ago, but delay saw them stashed in central bank vault