News
Carney says regulations may have gone too far
It is time to ‘take stock’ of financial regulations to ensure they are not imposing unintended consequences, Bank of England governor says
Philippines central bank to implement Basel III liquidity rules
Central bank governor Amando Tetangco says local banks ready for the new rules
RBNZ to cut costs despite need to implement major new projects
Central bank plans to cut costs and use resources more effectively following tighter funding deal; strategy includes payment systems upgrade, new banknote series and first stress tests
Croatian governor: Europe has a way to go with structural reforms
Boris Vujčić points to benefits of greater labour market flexibility and easier equity financing at IIF conference; Hungarian council member stresses need for productivity growth
Schäuble says Greek outcome now '50-50'
German finance minister warns against losing the ‘remaining credibility’ of the monetary union in speech in Frankfurt; debt negotiations finely poised with IMF deadline looming
Weidmann leads support for capital markets union
Bundesbank president says bank-based and market-based finance can be ‘complementary’, while Iosco secretary-general urges Europe to move quickly
Zeti urges central banks to ‘call the shots' on financial regulation
Bank Negara Malaysia governor makes the case for giving central banks regulatory powers over financial markets during Central Banking interview
US rules on foreign banks criticised by SRB’s König
Elke König, head of the eurozone's bank resolution authority, says US requirements for foreign banks to have a local holding company run counter to the single point-of-entry approach to resolution
Fischer: more research needed on stress testing
Fed vice-chair sees room for improvement in the design of stress testing; NY Fed’s McAndrews fleshes out possible research agenda
Negative deposit rate ‘turbocharges’ QE, economists say
Former ECB board member Lorenzo Bini Smaghi says negative rate ‘creates a multiplier effect’ that boosts impact of QE, a view shared by other panellists at Frankfurt conference
Weidmann warns Greek ELA could raise ‘serious monetary financing concerns’
Bundesbank president says the ongoing provision of emergency funds to Greek banks will be a problem if the cash is used to buy sovereign debt
Greece closer to default as creditors throw out latest proposals
Leaked copy of counterproposal by Greece’s creditors complete with red-inked changes shows agreement as far away as ever, with less than a week until major IMF repayment
Central Bank of Nigeria excludes importers from FX markets
Latest bid to relieve pressure on the naira sees wide range of importers and those looking to invest in foreign currency bonds and equities banned from making foreign exchange transactions
Aussie sovereign wealth fund readies for lower future returns
Australia's Future Fund has adopted a flexible approach to deal with a challenging yield environment
Central Bank of the Philippines receives international remittances award
Filipino central bank secures award by World Bank, European Commission and the United Nations for its efforts to broaden and deepen the country's financial markets
Bank Indonesia cracks down on ‘cash back' transactions
Central bank signs agreement allowing payments industry to seize card readers from merchants offering customers cash through fake credit card purchases
Bulgarian governor wants quick successor appointment to hasten his exit
Ivan Iskrov calls on parliament to elect a successor before the end of his term in October, bringing an end to a turbulent period in charge
Senior UK bankers face bonus clawback for up to 10 years
Final PRA/FCA proposals on remuneration set the clawback period at seven years with a potential three more for senior managers; Andrew Tyrie questions whether the rules are enough
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey
Sarb adopts recruitment and career development plan
Annual report reveals new ‘workforce plan’ at South African Reserve Bank aimed at identifying the skill-sets it will need over the next five years and how to acquire them
Former central bank chief to head up Zimbabwe SWF
Kombo Moyana, governor between 1983 and 1993, will chair board governing the country’s new sovereign wealth fund
ECB welcomes ‘smooth’ T2S launch
Culmination of seven-year process sees first four CSDs migrate to the new platform and settle the first transactions, despite fears over remaining bugs
Eurogroup president looking for Greece deal ‘in next couple of days’
Jeroen Dijsselbloem says new Greek proposals are a ‘positive step in the process’ of the bailout review in a short press conference; government heads next to meet in Brussels
Kyrgyz central bank partners with World Bank to deliver payments upgrade
The Kyrgyz Republic has seen rapid growth in card payments in recent years, which the central bank fears could create instability if the oversight and operation of payment systems is not improved