News
Adrian Orr to lead RBNZ in 2018
Former deputy takes over at a time when the central bank mandate is being called into question; Grant Spencer sets sights on retirement
Fed finalises new market benchmarks
Three transaction-based alternatives to US dollar Libor will launch in 2018
ECB approves major financial infrastructure programmes
ECB plans for Target2 and T2S to merge, plus new collateral management system for Eurosystem
Riksbank plans comms drive to mark 350th anniversary
The world’s oldest central bank intends to engage the public, explaining its role in the economy
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
Fed proposes sharing more information about stress tests
Proposal includes insights about how the regulator estimates hypothetical losses
Basel III changes set to create big winners and losers
Capital hit for G-Sibs ranges from 28% drop to 43% jump, quantitative impact study reveals
David Mayes: 1946–2017
The internationally minded professor was a stalwart of the central banking community
Mario Draghi confirms Basel III is complete
Governors and heads of supervision grant final approval to the amended Basel III framework, but the parties fail to agree on sovereign asset treatment
Norway’s sovereign fund acquires its first Asian real estate
Norges Bank recommended in November the fund should abandon equity investments in oil and natural gas
Brazilian policy rate at lowest level in 30 years
Copom expects inflation to fall to 2.9% this year
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
Eurozone must improve management of national cash cycles, paper argues
Researchers find wide variations between cash quality in eurozone countries
European Commission proposes creating a European Monetary Fund
The new EU institution would replace the European Stability Mechanism in 2019
BoE seeks to enhance stress-test model oversight
Prudential Regulatory Authority to enforce new stress-test model principles in 2018; smaller banks asked to tailor them to their operations
Greek governor attacks ‘politically motivated' accusations
Parliamentary audit cleared Stournaras of failing to disclose assets, Bank of Greece says
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Change in fees could lead to ATM ‘deserts’ – MP Nicky Morgan
Chair of UK Treasury committee concerned that changes to ATM networks could threaten financial inclusion as cash continues to be important to 2.7 million people
Portuguese finance minister named new head of Eurogroup
ESM manager praises Mário Centeno as a “passionate economist”
Diversified export markets may offset Mexican Nafta showdown
Bank of Mexico sees a failure to renegotiate the trade deal as the biggest risk to the economy
More easing next year if inflation does not pick up – RBNZ
Global supply chains, the rise of China and the digital economy led to a low traded-goods inflation
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
BIS top body poised to approve Basel III
The GHOS meets on December 7, and all signs indicate it will finally give Basel III the green light
Richmond Fed appoints McKinsey executive its next president
Tom Barkin will serve as a full FOMC member as of 2018