News
New trading book QIS tackles correlation gripes
Changes proposed for correlation, exotic derivatives and hard-to-model risks
People: Board changes at PRA; Rodriguez to lead Fed’s ‘faster payments’
Four new board directors to start at PRA, Fed gives Sean Rodriguez lead role for ‘faster payments’, CNB names new head of communications and more.
FSB holds fire on non-bank G-Sifi designation amid backlash
Organisation to delay decision on whether asset managers should be included in designation of systemic ‘non-bank non-insurers’ after consultation attracted widespread criticism
China market turmoil shouldn't affect SDR decision, Lagarde says
IMF chief defends Chinese government efforts to prop up stock market, praises reform tempo at first-ever virtual press conference
SNB losses climb to $52bn after abandoning franc ceiling
Central bank suffers heavy losses on its holdings of foreign exchange, with overall losses for the year to date rising to Sfr50 billion
BoE unveils plans for enhanced data gathering
Central bank hopes improved data gathering will allow it to produce more accurate interest rate benchmarks, and inform financial and monetary policy work
Greek swaps contract drama continues
Ongoing controls mean some end-user payments are more than a month overdue
MAS enlists financial leaders to 'co-create' industry policies
Advisory panel comprising 26 industry leaders will provide "insights and experience" to central bank efforts aimed at making Singapore's financial sector more competitive
Fed leaves door open for rate hike
FOMC statement offers hints that the US labour market is reaching a position where a hike could be possible, indicating interest rates are still expected to rise this year
IMF laments lack of progress on global imbalances
Fund calls on both surplus and deficit economies to redress imbalances, arguing this would support global demand management and growth
Setting risk appetite key foundation for risk culture, speakers at OpRisk Asia say
Efforts to change risk culture should focus on a few 'risk champions' in each department, the OpRisk Asia conference in Singapore hears today
Williams sheds light on Yellen's managerial style at San Francisco Fed
John Williams says Fed chair Janet Yellen taught him ‘many, many things’ during her time at the Federal Reserve Bank of San Francisco, highlighting her focus on the process of making decisions
Riksbank launches app as drive to publicise new notes and coins accelerates
Central bank’s first smartphone app helps public identify counterfeit banknotes and features voice-over by Stefan Ingves; part of communications push ahead of new banknote and coin series
Wheeler aims to get NZ inflation back to target within a year
RBNZ governor looks to return inflation to around 2% within 12 months; reiterates further easing is likely
Global FX volumes climb off record highs
Foreign exchange turnover slips from the record highs registered in October 2014, but is still growing year-on-year
Gertjan Vlieghe to replace Miles on BoE monetary policy committee
Economist used to be assistant to Mervyn King and is now partner at an asset manager; previous research has focused on conducting monetary policy in the presence of imperfect credit markets
MAS to set up financial technology and innovation unit
Central bank rejigs organisation as part of efforts to turn Singapore into ‘smart' financial centre; hires a global head from Citi to lead new group
RBI automates liquidity operations
Central bank launches straight-through processing for three of its liquidity operations, cutting settlement times as part of broader efforts to enhance liquidity management
IMF flags potential scarcity of sovereign bonds in Europe
‘Selected issues paper’ warns a shrinking pool of securities could ‘pose challenges’ to the implementation of the ECB’s quantitative easing programme
China CLO market stutters on economic slowdown
Regulator's move to increase liquidity and a rise in NPLs have slowed China structured credit market
Fiji promotes financial inclusion with dedicated website
Reserve Bank of Fiji and Visa launch a website for the National Financial Inclusion Taskforce, with the aim of ‘bringing about positive behavioural changes towards personal financial management’
Varoufakis reveals covert plan for parallel Greek currency
Secret plan to create payment system using accounts attached to Greek tax numbers was designed to be activated if the country came close to exiting the euro
Fed mistakenly releases confidential staff forecasts
Economic projections show staff expect a more gradual pace of rate increases than most Fed officials; supposed to be released to public with a five-year lag
Guy Debelle to lead BIS’s work on global forex code
New working group under the auspices of the BIS’s Markets Committee aims to create a global code of conduct for the foreign exchange market, with RBA assistant governor as chair