News
New payments regulator in UK may have uneasy relationship with BoE
Treasury committee highlights potential for conflicting objectives between newly formed payments regulator and the Bank of England; Tyrie says independence ‘pretty heavily circumscribed’
Malaysian banks will use cheque fees to incentivise electronic payments
To reduce the use of cash and cheques in the financial system, Bank Negara Malaysia is introducing a scheme whereby cheque fees will be used to incentivise e-payments
ECB fears ‘abrupt reversal’ of global search for yield
Central bank says an end to the hunt for yield is the main threat to financial stability in the eurozone; Constâncio concerned by impact on investors’ balance sheets
Ukraine gets new deputy in leadership reshuffle
Vladyslav Rashkovan promoted to acting deputy governor after just seven months at the central bank; board membership expanded to include head of personnel
Central banks weighing the benefits of bitcoin
Digital or ‘crypto’ currencies are controversial among central banks, but some see merits in their use and a few may even issue their own; more digital currency innovation likely in future
Constâncio wants to ‘broaden’ European macro-prudential toolkit
ECB vice-president wants a broader macro-prudential toolkit to help smooth the financial cycle, including new instruments for the shadow banking sector
PBoC action ‘lays foundation’ for liberalisation
Central bank emphasises movement towards interest rate liberalisation, saying last week’s rate cut was designed to combine financial reform and monetary policy
EC vice-president urges ECB to play its part in historic investment push
Jyrki Katainen highlights need for policy co-ordination as public-private EU investment fund is announced; ECB's Constâncio suggests no decision on QE in December
Norges Bank's Olsen sees dangers in too much transparency
Governor Øystein Olsen tells Central Banking that giving too much detail to the public might generate more questions than useful insight; defends tradition of not publishing minutes
Bank of Portugal gets new powers to assess bank directors
Bankers’ current court cases and their personal business conduct are now also part of the Bank of Portugal's assessment of the banking system
Central Bank of Nigeria raises stakes with rate hike
Bank loosens grip on falling naira but governor ‘committed to stable exchange rate'; warns drop in oil price is permanent and depreciation could continue
BoJ minutes reveal fears of QE ‘side effects’
Minutes from meeting that saw central bank ramp up asset purchases reveal concerns among board members; Kuroda and Nakaso speak in defence of the policy
BoE officials defend use of labour market data in policy-making
Mark Carney and other top officials say labour market data quality is variable but always carefully examined; central bank may publish details of agents’ assessment of the economy
Malaysian banks working on a Swift rulebook for Islamic transactions
A Swift rulebook ‘will provide an efficient platform for the exchange of messages for Islamic finance transactions’, says governor of Bank Negara Malaysia
Riksbank study questions status of cash as legal tender
Researchers warn ‘lock-in effect' may inhibit market participants from exploiting more efficient payment methods
Bundesbank explores macro-prudential framework
Claudia Buch says the central bank is 'looking into' what needs to be done to provide a legal basis for macro-prudential policy; Bundesbank releases financial stability review
BoE picks Deloitte to review RTGS failure
Consultancy firm to conduct investigation into outage in real-time gross settlement system that saw system break down for several hours
New York Fed consultant slams bank's ‘intensely deferential' regulatory culture
David Beim, a Columbia professor who conducted confidential review into regulatory practices, says employees who speak out are ‘frequently hammered down' by supervisors
CGFS pushes central banks to prepare market-making crisis measures
BIS committee warns of ‘bifurcated’ liquidity and suggests central banks prepare crisis measures to support market-making, including the potential for direct intervention in critical markets
Thomas Jordan dismisses monetary reform proposals
Swiss National Bank head rejects multiple reforms, including a return to the gold standard, the introduction of plain money and the adoption of the euro
Nigerian central bank scrutinised over currency troubles
As the naira continues to weaken, analysts argue central bank blunders earlier this month have added fuel to the flames ignited by rising oil prices; MPC expected to hike rates tomorrow
Basel rate-risk project sets up scrap over deposit models
Attempts to set international capital rules for banking book interest rate exposures are hitting sensitive ground as banks warn lending will suffer if regulators cap deposit maturities
PBoC cut fails to impress but more action on the cards
Economists say first cut in two years likely to have weak effect at best, but PBoC may have to take stronger action going forward as economy worsens
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties