News
Europe’s CCP recovery rules draw fire
CCPs and clearing members unhappy with proposed allocation of non-default losses
IMF warns Tunisia over inflation, deficit and currency
Central bank may have to hike rates further, IMF executive board says
UK crime agency probes possible fraud against National Bank of Angola
Former Angola central bank governor indicted amid $500 million fraud allegations
Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and an appreciating rand mean the South African Reserve Bank could cut rates at its meeting next week, but analysts think it might be too soon
Bank of Ghana slashes rates as inflation moves towards target
Central bank continues an easing cycle that began in 2016, citing a “significant moderation in price pressures”
PBoC gains two-headed leadership
In appointing Guo Shuqing as party secretary at the PBoC, president Xi Jinping appears to be strengthening party control over the central bank
DLT offers new possibilities for securities settlement, says ECB and BoJ team
Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms
Lagarde proposes new European fiscal fund
The mechanism would reduce reliance on monetary policy to respond to future crises
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
People: Brazil central bank set for female deputy
Carolina de Assis Barros set to become deputy governor after reshuffle; ECB’s Euribor expert prepares for EMMI move; and more
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Ukrainian central bank criticises lawmakers for failing to reform state-owned banks
Draft law aimed to protect country’s largest banks from ‘political impact’, NBU says
Basel Committee adds ‘amber zone’ in market risk revamp
“Amber zone” will protect near-miss desks, but regulators not convinced by complaints on non-modellable risk factors
Public debt in low-income countries rising to risky levels – IMF
The fund recommends official creditors co-ordinate their response to debt crises
Myanmar central bank opens up more room for foreign banks
Seven foreign banks received a long-awaited approval to provide trade finance to local exporters
Slovene governor quits post after receiving death threats
Governor Jazbec says threats come from “bailed-in” bond and shareholders; criticises article by presidential adviser
BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5% but leaves the door open for two potential rate hikes in 2018
BoE and FCA to lead new ‘crypto-assets task force’
Regulators will manage the risks around crypto assets as well as “harnessing the benefits” of blockchain; robo-compliance on cards
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
Mongolian central bank opposes interest rate cap
Mongolia has some of the world’s highest interest rates, but the central bank warns caps are not the right solution
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
New York Fed director involved in selecting new president resigns
David Cote stepped down shortly after the institution revealed it was considering “a handful of final candidates”
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade