News
Carstens: Money without central banks is doomed to fail
Many “architectures” are possible but they must be built on a foundation of trust, BIS chief says; improving “two-tier” system may be best approach
Chilean MPC abandons easing plans amid political unrest
Currency fell sharply in November following prolonged street protests
Banque de France to launch CBDC experiments in 2020
De Galhau says new directorate will look at using wholesale CBDC in transactions for tokenised assets
Argentine governor resigns before new president takes over
Guido Sandleris calls for economic consensus and central bank independence to tackle high inflation
Many firms not following global forex standards – RBA deputy governor
Guy Debelle says global forex committee shifting focus to algo trading
Fed’s supervision may have added to repo turmoil, Quarles says
Republican lawmaker concerned for financial stability if “bad regulation” is driving monetary policy
RBNZ to impose 18% capital ratio on big banks
Central bank finalises plans for substantial increase in minimum capital requirements
Chile’s forex intervention likely to stabilise peso – experts
Much depends on the reform programme the government chooses to adopt, however
Nigerian central bank levies $1.3 billion on banks
Banks were fined over the failure to increase lending to 60% of deposits, say local sources
Mauritius to roll out forward-looking policy framework
New monetary policy operating framework will look to smooth the yield curve and improve communication with external stakeholders
Elsie Addo Awadzi on turning around Ghana’s banking system
The Bank of Ghana led a multi-pronged effort to rescue or resolve several banks and hundreds of smaller firms
NY Fed’s Stiroh: ‘More work to be done’ on bank culture
Kevin Stiroh discusses progress in reforming banking culture and how technology is changing the risk management equation for both firms and supervisors
Latvian coalition nominates new central bank governor
Nominee has publicly disavowed current governor as authorities try to deal with serious allegations
PBoC governor vows to stay away from QE and negative rates
Beijing should maintain “normal” monetary policy, as ultra-low rates in developed markets proved ineffective, says governor
Slovakian government extends bank tax despite ECB warnings
ECB and Slovak central bank warn increased bank levy could endanger financial stability
Cyber stress tests reveal risks in Singaporean firms
Insurance firms report potential losses as high as $3.4 billion, while banks’ costs could hit 65% of quarterly profits
T&T governor calls for productivity reforms
Alvin Hilaire says improvement still required despite recent increase in productivity
ECB welcomes Swedish draft law to order banks to supply cash
Proposed law follows Riksbank’s warnings on risks of Sweden’s rapid move away from cash
Swedish MPs propose dual mandate for Riksbank
Proposals aim to redefine institution’s role in monetary policy, financial stability and payments, while enhancing independence
Government cannot ‘grab’ central bank’s resources – Njoroge
CBK governor reiterates central bank-funded bailouts “never work”, as state agencies are forced to surrender excess securities and Treasury bills
Carney named UN special envoy on climate risk
Governor will join the UN’s staff on his departure from the Bank of England
IMF praises Haitian central bank but warns of ‘unprecedented crisis’
Central bank and finance ministry’s efforts are damaged by failure to form government – IMF staff
El Salvador central bank chief quits after five months
President asked Carlos Federico Paredes to step down due to ongoing accusations of real estate scam
Indonesia’s central bank pledges major infrastructure changes
Five-year plan aims to upgrade payments infrastructure and boost inclusion rates