News
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
People: Bank of Russia appoints new Moscow chief
Senior appointment at Bank of Russia; Uzbekistan picks new deputy; Bank of Japan gains new head of international affairs; Eiopa shuffles board
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
Synchronisation of global house prices poses new risks – IMF
Macro-prudential housing policies may be affected by global movements, researchers say
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Fed outlines simplified capital regime
“Stress capital buffer” would likely raise capital requirements somewhat for many of the largest banks and lower them for the smallest, the Fed says
Yi Gang unveils timetable for opening up measures
No plans to depreciate renminbi amid trade spat, PBoC govenor says; denies there will be a “big bang” reform in financial sector
Iran seeks to unify exchange rates amid rial plunge
New rate is meant to eliminate gulf between official rate and market, but it remains unclear whether the measure will succeed
Missing $500 million returned to Angolan central bank
Finance ministry attempts to set the record straight over alleged fraud, which used dormant company as a mask for the illegal transfer
IMF analyses demographic and technological changes affecting productivity
IMF researchers say right policy choices can offset the negative impacts of technological and demographic changes
Greek governor takes legal action against prosecutor in ‘corruption’ case
Stournaras also accuses anonymous witnesses of defamation
Xi pledges to open up economy amid trade tension
China’s president adopts soothing tone, but some observers complain his remarks do little to change the situation
Central banks should personalise communications – BoE’s Haldane
Explaining how monetary policy affects the lives of everyday people could help bridge trust gap, the BoE’s chief economist says; calls for monetary policy ‘scorecards’
People: Guo Shuqing secures position as head of regulator
Guo to be first official leader of the China Banking and Insurance Regulatory Commission; Atlanta Fed names new vice-president; and more
Major central banks call for concerted action on climate change
“Transition risks” are the most challenging for financial institutions, Carney says
Estonia and Denmark hit by money laundering scandals
Danske Bank says it should have acted faster on allegations
Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges very low unemployment has been accompanied by other signs that the labour market may be operating below potential