News
Fed’s risk proposal puts banks on the defensive
New supervisory guidance will make business heads responsible for risk management
Student debt becomes a bigger threat to US financial stability
The debt has surpassed auto loans and credit cards, and now only trails mortgages
Venezuela set to launch another currency series
New banknotes redenominate currency amid rapid inflation; series will launch in June after demonetisation of old series
RBI to consider launching digital currency
Reserve bank to investigate issuing a digital form of central bank money, as it unveils measures to “ring fence” regulated banks against crypto tokens
Gambia’s central bank seeks greater independence as fiscal dominance ends
Central Bank of The Gambia to work on autonomy and data management under new fund programme
Money market revamp would help transmit policy in Iran – IMF
Central bank currently struggles to conduct open-market operations; new policy framework would aid transmission and deepen markets, fund says
New York Fed launches rates replacing US Libor
New rates are calculated using actual interbank transactions
IMF urges Costa Rica to shore up financial stability defences
Fund calls for increased transparency from financial stability committee and action to tackle dollarisation risk
Bank Negara Malaysia ‘foils’ cyber heist
Central bank assures public no funds were lost during incident involving falsified Swift messages
European Commission proposes uniform cost for trans-EU euro payments
Dombrovskis also calls for EU-wide transparency on currency conversions
Macro-prudential policies cool Sweden’s housing market
Private debt continues to increase, but loan-to-value ratios are falling
John Williams named president of New York Fed
Candidate proved contentious on diversity grounds, but brings deep macroeconomic experience
Russian central bank plans $19 billion loan to new ‘bad bank’
Entity will take over distressed assets from three banks that failed in 2017
Sri Lankan president takes responsibility for central bank away from PM
Prime minister faces no-confidence vote over central bank “bond scandal”
South Africa’s ‘twin peaks’ regulatory model goes live
Sarb takes control of prudential regulation and new conduct regulator opens its doors
People: new Indonesian governor confirmed
Perry Warjiyo and new deputy approved in Indonesia; Richard Clarida mooted for Fed vice-chair; Central Bank of Chile appoints new deputy governor
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials
Bank of Mongolia gains greater independence under new law
Central bank had complained government and politically connected businessmen were too quick to dip into its funds
Basel Committee highlights best practice for early intervention
Supervisors have become more forward looking and adopted new tools since 2008 in a bid to catch trouble early
Distribution of national seigniorage profits is a matter for governments – ECB
New head of Commission’s civil service is seen as key backer of seigniorage proposals
Critic of regulation likely to become next head of FDIC
Jelena McWilliams to appear before senate prior to FDIC chair appointment
BoE: UK-based financial firms will face same regulations during transition period
“Back-stop” will be available if withdrawal agreement is not ratified - BoE
Official inquiry finds ‘evidence of misconduct’ by Australia’s largest banks
Four largest banks may have continuously breached credit issuance legislation
Europe’s CCP recovery rules draw fire
CCPs and clearing members unhappy with proposed allocation of non-default losses