News
Reserve Bank of India to trial ‘plastic banknotes’
Annual report details plans to run a ‘field trial’ of plastic banknotes by 2015, in addition to several other initiatives aimed at improving the central bank’s cash management
Reserve Bank of Zimbabwe sets up ‘bad bank'
'Bad bank' will assume a growing number of NPLs from troubled lenders; NPLs in Zimbabwe amounted to 18.5% of banks' assets in June, according to central bank
Central Bank of Hungary brings in macro-prudential borrowing caps
New caps will limit payment-to-income levels especially on FX loans; central bank hopes one side-effect will be to discourage the informal economy
Emerging currencies face uphill battle for true internationalisation
BIS report published alongside major EME survey also warns the costs of an international currency might outweigh the benefits
EMs discuss monetary responses to policy spillovers in major BIS publication
BIS publishes result of wide-ranging emerging markets survey, finding that transmission channels have changed since the crisis and opinions differ on how to respond
Nurbek Jenish named Kyrgyz deputy
National Bank of the Kyrgyz Republic appoints Nurbek Jenish, an academic with experience at the World Bank and Asian Development Bank, as third deputy chairman
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
Draghi encourages ‘greater role’ for fiscal policy
ECB president says a policy mix of monetary, fiscal and structural measures is necessary to keep the eurozone recovery on track, in his remarks at Jackson Hole
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
CentralBanking.com will return on Tuesday, August 26
Due to public holidays in the UK, CentralBanking.com will not publish a news alert on Monday. Normal service will resume on Tuesday, August 26
Conditions ‘in place’ for repo expansion in East Asia and Pacific
Report published by central bankers in the Asia-Pacific region finds that repo markets are ‘not as large as might be expected’, but conditions are in place for them to grow
Carney urged to help end masking of swap counterparties
'Ambitious but realistic' deadline could be set for banks to stop hiding counterparty details – the industry’s response to a conflict between privacy and reporting rules
Israeli officials look to remove obstacles to securitisation
Joint team of financial regulators renew efforts to promote securitisation; former deputy governor Zvi Eckstein backs proposed legislative changes
Sri Lankan central bank to spend $760,000 lobbying in US
Central bank hires US company to lobby politicians and businesses in effort to prevent ‘adverse publicity’ eroding investor confidence and undermining economic stability
Bosnia's central bank opens new premises in Banja Luka
Main Serbian branch of Bosnia's central bank moves to new purpose-built premises, as its old building provided ‘inadequate' conditions for its 43 staff
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
Monetarist view cannot explain eurozone inflation woes, Nobel laureate warns
Christopher Sims says lack of co-ordinated fiscal action dooms eurozone to prolonged lowflation, at German conference for economics Nobel prize winners
Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee will hinder abuse of expensive ATMs and promote its cash-less policy; fee was abolished in 2012 to encourage use of ATMs
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Norway SWF manager doubles leadership team
Norges Bank Investment Management sets up separate ‘leader group' for real estate investments; wealth fund returns 3.3% ($31 billion) in second quarter
IMF researchers say CCBs ‘show less promise’ than other macro-prudential tools
Working paper finds counter-cyclical capital buffers are less effective than measures aimed at banks’ assets and liabilities in reducing the rate of asset growth on their balance sheets
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy