News
Croatia makes it 25 central banks in Target2
The Croatian National Bank will, along with 24 commercial banks in the country, participate in the RTGS system from February 1, making it the fifth central bank outside the eurozone to join
Central banks struggling to exit ‘confused period’, economists say
The financial crisis forced a regime change on central banks, raising challenges to independence, analysis and policy tools, which have yet to be fully resolved, say panellists in Brussels
Zeti warns of ‘immense' challenges in 2016
Bank Negara Malaysia governor warns of potentially persistent threats to long-term growth at the AFF conference in Hong Kong, but sees a silver lining if policy-makers get it right
PBoC imposes reserve requirements on offshore deposits for first time
New measure designed to curb CNH short-selling and shows PBoC determination to stabilise offshore market in wake of recent gyrations, analysts suggest
FCA review paints picture of institution rattled by setbacks
Independent review of UK watchdog reveals low morale and risk aversion in the face of comms scandal and loss of chief executive Martin Wheatley, plus fears of government meddling
Polish governor says inflation will rise slower than expected
Inflation will not turn positive in January 2016 as previously expected, governor Marek Belka says; monetary policy council keeps policy rate unchanged
Flurry of new central bank heads could continue into 2016
The past three months have brought 10 new central bank governors and a Fed president, after a period of relative stability; Central Bank Directory 2016 shows other terms expiring this year
IMF staff say tighter macro-pru measures ‘may be warranted’ in Slovakia
IMF staff have called for Slovakia’s central bank to boost its oversight of housing lending and to consider raising the counter-cyclical capital buffer for the country’s banks if growth continues
Angola central bank’s new website draws on emerging best practices
Responsive website launched for 2016; work in Brazil, Portugal, South Africa and UK were ‘points of reference’ in process
Ukrainian governor: banking system 'largely cleaned up'
Ukraine’s central bank governor says the country’s commercial banking system has been largely reformed; enhancing creditors’ rights key to resumption of lending, she argues
Volatility fails to shake outlook as BoE holds rates steady
Latest MPC minutes are largely preoccupied with discussion of international developments, but falling oil prices and market volatility do not herald major change in stance
Basel Committee completes trading book review
Much-anticipated redesign of market risk framework seeks to capture risks the Basel accord failed to guard against in 2008; impact study implies median 27% increase in capital charges
HKMA to raise countercyclical buffer by maximum in 2017
Hong Kong Monetary Authority will raise banks’ counter-cyclical buffers by the maximum amount in January 2017; risks still present in credit and housing market, Norman Chan warns
Indonesia cuts interest rates following Jakarta attack
Local reports suggest central bank's board was meeting at time of bomb blasts in downtown Jakarta; rate cut ‘should provide overdue boost' to the economy but comes with risks, says analyst
The winners of the Central Banking Awards 2016
Central Bank of Ireland wins Central Bank of the Year, while Erdem Başçı picks up Governor of the Year; Zeti Akhtar Aziz receives Lifetime Achievement Award; 15 more awards announced
Sarb deputy governor sees growing inflation risks ahead of MPC meeting
South African Reserve Bank policy-makers must assess ‘very carefully’ whether its stance remains appropriate, Mminele says; MPC meets January 21
BoE moves to close bonus clawback loophole
Under new proposals, banks will no longer be able to circumvent malus and clawback rules by buying out new employees’ bonuses
Survey data offers chance to assess eurozone macro-prudential policies, paper argues
Data from the eurozone’s Bank Lending Survey can be used to analyse the effectiveness of different macro-prudential policies, an IMF working paper argues; subject is little known, researchers say
RBI, BIS gain access to China interbank foreign exchange market
Second batch of official investors receive permission to trade FX spot and derivatives onshore; MAS and BoK also among the seven institutions
Senate blocks proposal to conduct ‘full audit’ of the Fed
‘Audit the Fed’ bill fails to secure support needed to proceed to Senate floor; Bernanke joins ranks of current and former Fed officials warning of potential threat to independence
New bank business models could undermine stability, panellists warn
Panel including Mark Carney and Agustín Carstens raises concerns over the way regulation and low rates are forcing banks to adapt in unpredictable ways
Villeroy de Galhau and Fischer express caution over inflation target change
There could be costs to changing inflation targets in response to persistent low inflation, say François Villeroy de Galhau, Christian Noyer and Stanley Fischer
Hungarian central bank eases by scrapping deposit facility
The central bank announces the closure of its two-week deposit facility in April, in a move it hopes will lead banks to buy government bonds and lower long-term yields
Financial market risk being pushed into ETFs, Noyer warns
Central bankers must develop oversight of ETFs and similar securities, Noyer tells farewell seminar; must also convince markets and public of opposition to low inflation and deflation