News
‘Black box’ AI could pose macro risks – FSB
Rise of artificial intelligence in finance may promote efficiency, but it can be hard to tell where the dangers lie, report finds
MPs clash with UK chancellor over diversity in central bank
Chair of parliamentary group says she is not convinced “all efforts” are being made to tackle gender unbalance
Trump nominates Jerome Powell as Fed chair
As a Fed governor, Powell has never issued votes of dissent against FOMC decisions
Supervisors must co-ordinate on ‘significant-plus’ branches – EBA
Guidelines set out advice for handling branches with “critical” functions
Venezuela launches new higher-denomination banknote
Banknote worth $2.50 enters circulation as estimated inflation exceeds 2,500%
Bank of England pulls trigger on rate hike
Committee split 7-2, but Carney strikes hawkish note on need for further hikes
MAS bans individuals involved in 1MDB scandal
Six people involved in 1MDB-related breaches have been issued prohibition orders by MAS, with two more facing potential future bans
SNB profits hit record high
Swiss franc’s depreciation and high stock prices fuel the rise in revenues in the first three quarters
US senators chase regulators on Treasury market reform
Crapo and Warner push regulators to ensure reforms to improve transparency are still in the pipeline; gaps in data remain a concern
ECB may change composition of QE, researchers say
Lower levels of sovereign bond acquisitions may allow the central bank to extend stimulus into 2019
BoE’s Woods: 75,000 Brexit job losses ‘plausible’
Deputy governor estimates 10,000 finance job losses on first day of Brexit, with wider long-term repercussions
Banks will continue to gamble with public money, says Gordon Brown
Former UK prime minster says lax punishment of banks has left risky culture intact; “inevitable” rogue bankers will continue to gamble with public money
MAS unveils plans to transform financial service sector
Authority hopes road map will boost financial services growth to nearly double that of the overall economy
Angola appoints third central bank governor in two years
José de Lima Massano takes over during a political shift that could pave the way for changes to exchange rate policy
BoJ lowers inflation forecast as policy stays on hold
BoJ downgrades inflation forecast again, leaving tightening unlikely anytime soon
FCA’s Bailey: firms need Brexit clarity fast
Financial firms will have to make decisions over the coming months that will be very hard to unwind, so certainty on the Brexit transition is pressing
Updated: Public prosecutor calls for conditional prison sentence for Tromp
Emsley Tromp was dismissed from the Central Bank of Curaçao and St Maarten in September following investigation
Ukrainian governor raises rates and warns government over IMF funding
Rate rise prompted by increased risk of government not co-operating with IMF, Smolii says
BIS could have done more to convey capital benefits – Caruana
Outgoing general manager says he would like to have better conveyed the “positive message” around capital, and made more progress on policy spillovers
Weidmann says ECB should have set time for end to asset purchases
Current policy risks blurring line between fiscal and monetary policy, Bundesbank president says
Bank of Zambia to revamp ‘outdated’ supervisory framework
IMF praises the central bank’s efforts to inspect banking sector following overhaul of monetary policy framework in last 12 months
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
People: MAS appoints cyber security chief in management reshuffle
MAS makes promotions including first chief cyber security office; Visco confirmed; Republicans turn on Yellen; Richmond Fed picks CFO; new chief of staff in Paraguay
RBA looking to handle uncertainty better, says Debelle
Reserve Bank of Australia to change way it presents forecasts in order to avoid false impression of precision