News
FSB issues peer review on ‘uneven' progress to end credit ratings reliance
Basel-based Financial Stability Board says its members must not replace mechanistic reliance on credit rating agencies with an equally narrow substitute
BoE's new international head among senior appointments expected this month
The Bank of England has three weeks to fill seven senior positions as part of a structural overhaul that goes live on June 1
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
New York Fed launches ‘more engaging’ website
The Federal Reserve Bank of New York leads a host of central banks overhauling their websites; redesign features new emphasis on social media
Cyprus finance ministry to publish SWF framework this year
Cypriot finance minister Harris Georgiades says he will finalise plans for a sovereign wealth fund this year, but monetising the country’s gas deposits remains a distant prospect
People: BoK appoints new reserves chief; Fed staffer returns to head up Riksbank research
Chae Sun-Byoung new head of reserve management at Bank of Korea; Jesper Lindé returns to head up Riksbank's research department; Linette Field put in charge of SSM deputy directorate
FX lending in China tops $1 trillion, new BIS figures show
BIS's Robert McCauley estimates FX loans to China hit $1 trillion last year, though the recent renminbi depreciation may now cause lenders to think twice
EBA stress tests prove contentious: have your say
Market analysts raise concerns over the lack of a deflationary scenario in the forthcoming EU wide stress test; CentralBanking.com poll asks if the tests are strict enough
Bank of Zambia moves to quarterly MPC meetings
Central bank reduces number of planned MPC meetings each year in an effort to produce ‘more meaningful’ analysis with a ‘longer time perspective’
Yellen says Fed's balance sheet will shrink ‘considerably'
Federal Reserve chair Janet Yellen hints central bank may stop rolling over QE principal as early as next year; denies that Fed policies have exacerbated inequality by ‘goosing' stock market
Bank of Guyana governor dies of cancer
Lawrence Williams, head of the bank since 2005, dies of cancer after long illness; deputy Gobind Ganga to assume governorship, according to reports
New Zimbabwe governor demands transparency
John Mangudya backs planned reform at the Reserve Bank of Zimbabwe and calls for a more ‘transparent and responsible’ institution
Draghi points to ECB action next month
European Central Bank holds rates but is ‘comfortable’ with the prospect of easing monetary policy following next month’s economic forecasts
IMF pushes Kazakhstan to modernise monetary policy
The National Bank of Kazakhstan should widen its exchange rate band and adopt ‘more effective’ interest rate instruments, the IMF says
Norway SWF axes JP Morgan as global custodian
Citi has secured custody responsibility for Norway's Government Pension Fund Global's $850 billion global equities portfolio
Jeremy Stein casts doubt on Fed's communication strategy
The governor, who steps down later this month, says he failed to appreciate how challenging communicating monetary policy can be before joining the Fed
RBNZ’s Wheeler threatens currency intervention
Graeme Wheeler spells out the Reserve Bank of New Zealand’s concern over its ‘overvalued’ currency, and says the central bank would consider intervening
State secretary takes over at Kyrgyz central bank
Head of the government’s economics department, Tolkunbek Abdygulov, is appointed acting governor of the National Bank of the Kyrgyz Republic at the age of 37
Iran takes transparency lesson from Azerbaijan's SWF
Iran's sovereign wealth fund managers travelled to Azerbaijan to discuss improving fund transparency and international co-operation
Yves Mersch says EU treaty change could entrench monetary and banking union
Changing the EU treaties could, according to Mersch, help strengthen the institutional framework underpinning the Economic and Monetary Union
Central Asia's central banks should shift attention to communication strategies – IMF
While some central banks in the Caucasus and Central Asia ‘require further development of instruments', others may ‘shift attention to communication strategies
OECD urges ECB to cut key rate
The OECD chief economist calls on the European Central Bank to cut its main refinance rate to zero and prepare for ‘additional non-conventional stimulus’
BoE paper emphasises uncertainty over risk to argue for simpler regulation
Misguided ‘quest for ever-greater precision' in bank regulation is creating ‘ever-lengthening regulatory rulebooks' that are hard to communicate and bad at predicting outcomes
China should adopt new intermediate target for monetary policy, say IMF economists
Economists at the IMF analyse demand for money in China and conclude the PBoC would be better off targeting interest rates in the economy rather than monetary aggregates