News
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
European presidents publish road map to closer union
Mario Draghi among senior officials to contribute to report calling for greater economic convergence, financial integration and ultimately more shared decision-making on fiscal policy
IMF's Viñals says central banks must be 'market-makers of last resort'
Monetary policy and regulation have amplified illiquidity, says IMF's Viñals
People: Njoroge approved as new Kenyan governor; Tajikistan appoints new deputies
Kenyan parliament approves Patrick Njoroge for central bank governorship; president of Tajikistan appoints new central bank board; Sanusi Lamido Sanusi joins Black Rhino; and more
BoE launches ‘Bank Underground’ research blog
Blog provides platform for researchers to voice more controversial ideas; comes alongside rebranded staff working papers, written with ‘hands off’ approach from senior managers
Bank of Japan to shake up meeting framework
BoJ board plans to cut number of yearly meetings as part of major overhaul of deliberations aimed at making monetary policy more transparent
Bank Indonesia appoints deputy following rates hold
Head of financial surveillance Erwin Riyanto replaces Halim Alamsyah on board of governors as central bank warns of renewed capital flight
Yellen argues Fed is among most transparent central banks
Fed chair Janet Yellen questions why additional legislation on transparency is necessary; new bill would force Fed to report in greater detail and more frequently to US Congress
Norway moves policy tools in opposite directions
Norges Bank cuts rates to tackle economic slowdown but government imposes higher countercyclical capital buffer as financial stability indicators show signs of danger
US Treasury: woman will appear on new $10 banknote
More than a century after Martha Washington was featured on a $1 note, Treasury secretary Jack Lew announces he will pick another woman to feature on the $10 note
SEC chief sees potential in UK’s senior managers regime
Mary Jo White says she is ‘very interested’ in the UK's accountability regime, as part of a panel discussing the many pitfalls in changing bank culture; Martin Wheatley warns reform could take 10 years
Fed officials still back 2015 rate hike
Median of latest projections suggests federal funds rate will reach 0.625% by the end of the year; FOMC delivers more upbeat assessment as its keeps policy unchanged
China to work with IMF on SDR evaluation, top official says
Comments by top foreign exchange regulator follow reports that IMF sent team to China for ‘technical discussions' last week
CCP wrangling sparks new frontloading fears
Dealers fear trades could be booked at central counterparties they are not able to use
Nabiullina: Bringing down inflation still Bank of Russia’s main concern
Central bank governor tells parliament that inflation is still the ‘priority task’ despite announcing plans to rebuild forex reserves earlier in the month
New Zealand paper calls for clearer financial stability aims
Researchers argue more guidance is needed on how and when macro-prudential policy will be used, pointing to the lack of hierarchy between distortions
Bank of Greece foresees ‘uncontrollable crisis’ if talks fail
Central bank weighs in with bleak prognosis for life without the euro as talks go to the wire; next Eurogroup meeting on June 18 offers last chance
PBoC top committee brings in seven fresh faces
China's central bank reshuffles top committee for second time this year, bringing in heavy-hitters from government and academia
ECB’s Mersch dismisses concerns over T2S launch at weekend
ECB executive board member admits a few bugs remain in Target2 Securities system, but argues they are not major and will not interrupt this weekend’s migration
Ireland to phase out one- and two-cent coins
Central bank will lead project that will see cash payments rounded to discourage use of low-value coins; decision follows successful trial in 2013
Japan regulators further relax electronic trading mandate
JFSA is initially going to mandate only three tenors of IRS for platform trading
EU court rules OMTs are legal
ECB is vindicated as ECJ rules in favour of crisis measure that would see the central bank buy potentially unlimited amounts of sovereign debt to protect ‘singleness’ of monetary policy
Bank of Israel launches journalist briefings as part of transparency drive
Central bank begins quarterly briefings of journalists and adds new publications as part of ongoing efforts to improve communications; follows consultations with other central banks
Market participants cheer FEMR recommendations
Dealers, customers and platforms all welcomed the outcome of the long-awaited review