News
MAS expands consumer debt management toolkit
New measure caps “unsecured credit” that banks can offer indebted borrowers; it is a “pre-emptive measure”, says MAS official
EBA publishes NPL standards in bid to foster market
Reporting templates ask for granular data in bid to establish EU dataset
Russian central bank bails out country’s ninth-largest lender
Move is sign of continuing squeeze on private banks, observers say; Bank of Russia also cuts policy rates for fourth time in 2017
Bank of Mexico hikes rates as inflation rises
Central bank resumes tightening path as Mexican economy faces trade and currency challenges
Fed backtracks on CCAR cleared swaps exposure
Regulator had also postponed plan to feed cleared client exposure into G-Sib rankings
Google chief economist Hal Varian offers machine-learning insights
Varian says use of single-factor equilibrium models needs to give way to dynamic state approaches; he urges central banks to experiment, even though this will result in some failures
Draghi says ECB’s asset purchases should stay ‘open-ended’
ECB president rejects calls for September end to purchases as inflation forecasts rise slightly
Stress tests find vulnerabilities in European pension funds
More than a quarter of institutions could not fulfil their commitments following an adverse scenario
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency
People: Fed appoints new payments security strategy chief
Boston Fed vice-president to lead payments security; director of prudential regulation of UK banks to stand down; Kuwaiti governor to chair Council of the Islamic International Board in 2018; and more
Fed hikes as Yellen hails strong job growth
Janet Yellen gives her last press conference as Federal Reserve chair
Senior figure steps down from Irish central bank
Mary O’Dea was interim head of Ireland’s financial regulator during financial crisis of 2009
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
RBA’s Lowe discusses potential electronic Aussie dollar
Financial stability risk and reforms holding back provision of digital currency at the moment, says RBA governor, but clearing and settlement could be future use case
Central banks and supervisors launch green finance group
Seven central banks and two supervisory authorities found network to tackle climate risks and promote green finance
Roi to vacate Mauritian governorship in January 2018
Experienced first deputy Googoolye to take over for three-year term, having already served as interim twice over the past decade
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
Mortgage modifications were key to cutting Irish NPLs
Scale of modifications was larger than previously thought, research finds
Policymakers need wider range of systemic risk models – paper
Researchers attempt to combine systemic importance and systemic risk approaches
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed