News
Bank of Ghana places troubled UniBank under administration
Central bank says it has made several attempts to save the mid-sized lender since 2016, but claims lack of co-operation from management and false information led to failure
Fehmi Mehmeti confirmed as Bank of Kosovo governor
Parliament narrowly votes to approve the interim governor for the full-time role
Kenyan central bank condemns interest rate cap legislation
Rules introduced in 2016 have restricted access to credit for small firms and impaired the central bank’s ability to conduct monetary policy
Global leverage may be higher than supervisors realise – IMF paper
Standard measures of leverage are too focused on balance sheets, researchers say
Lawmakers should not yet intervene on big data – European agencies
Financial institutions should develop best practice for big data, ESAs say
Venezuela pays off $2.1 million debt to Chile
Struggling Latin American country honours debt repayments under Reciprocal Payments and Credit Agreement, after missing payment in 2017
People: Bank of Finland to select new governor
Finnish governor Liikanen finishes final term in July; Seychelles reappoints governor and deputies; South Africa sets up foreign exchange committee; Atlanta Fed’s vice-president retires
Nigerian central bank hopes for end to monetary policy committee deadlock
Governor says country’s lawmakers should approve MPC nominees soon
CPMI adds three new members
All G20 members and more emerging markets are now represented
Saudi Arabia confirms $2 billion transfer to Yemen’s central bank
Yemeni government said to demand payment of all revenues to Aden-based central bank as famine and war continue
FSB: cryptocurrencies too small to be major threat
Limited links to real economy imply crypto assets may avoid regulatory crackdown for now; work continues on consumer protection
Sarb launches its first app-based quarterly bulletin
User feedback reveals current format is cumbersome and “static”; central bank partners with external firm to create new app
China picks Yi Gang to lead PBoC
US-trained Yi is viewed as a pro-market reformist, who has worked under his mentor Zhou Xiaochuan for two decades
BoE changes stress test framework but keeps scenario the same
Stress tests will attempt to gauge impact of IFRS 9
Bank of Israel profits from rising equities – market operations director
Andrew Abir says Israeli central bank has benefited from rising US equities
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
PBoC set for new governor
President Xi Jinping’s adviser Liu He widely expected to be named next PBoC governor
Yakiv Smolii confirmed as Ukrainian governor
Interim governor voted in as permanent head after 10 months
SNB struggles to end ultra-loose policy regime
The Swiss central bank’s hopes of normalising policy are being held back by weak expectations, a strong currency and policy actions abroad
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation
Patel complains of ‘deep fissure’ in Indian regulation
RBI governor’s remarks seek to deflect criticism over recent Punjab National Bank scandal
MAS prepares new approach to data collection
MAS says it is moving towards “zero duplication” of data requests and machine-readable regulation
UAE deposits $1.4bn with Sudan’s central bank as currency pressure continues
The country has “unsustainable” debt levels and US sanctions hurt debt relief – IMF
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says