News
People: Ma Jun departs PBoC; Brazil promotes directors
Chief economist of the PBoC departs central bank for academia; Central Bank of Brazil gets new directors; Andrew Abir to sit on the Bank of Israel’s monetary committee
Bank resolution regime rolls out in Hong Kong
HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure; authority also plans to conduct a public consultation on loss absorbency
Fed issues guidelines for joint accounts with private banks
Initiative aims to create more efficient US payments system
Islamic State looted $800m in funds, says Iraqi central bank
IMF says central bank cannot avoid financing government deficit
Food prices are boosting inflation, Ukrainian central bank says
Pressures are expected to moderate in second half of 2017, says NBU
Argentina expands collateral for farmers
The central bank aims to expand credit for the key agricultural sector
Fed and FDIC extend resolution plan-filing deadline for banks
Nineteen foreign banks granted more time were already given one-year extensions in 2016
BoE’s ‘difficult decision’ to stick with animal fat substrate
UK central bank rejects the palm oil alternative, despite successful trials; the decision is based on cost and sustainability concerns
BNM warns banks not to trade offshore in Malaysian currency
Malaysia's central bank says banks should not trade in futures in Singaporean exchanges
Esma backtracks on account segregation
Esma opts for minimum EU-wide account segregation requirements
Record-high FX reserves prompt new questions for SNB
Reserves reach $734 billion as Swiss franc depreciates against euro
People: IMF official appointed Bank of Ghana deputy; new communications chief for BoE
Former IMF official appointed first deputy at Bank of Ghana; BoE forecasting chief moves into new communications role; and more
Negative rates have not hurt Swedish/Danish profits – paper
But developments in housing markets deserve caution, say researchers
BoE to appoint ‘conflicts officer’ following review
Compliance review revealed there was a lack of understanding around reporting conflicts of interest; under new framework senior officials will have to report annually
International organisations should lead the way for cyber defence – IMF paper
Working paper outlines holes in current cyber regulatory framework and urges firms to adopt reporting system to improve oversight; cyber risks should be addressed on multilateral level
Lithuanian central bank mulls fintech sandbox
Regulator says it may suspend some regulations on a “case by case” basis
Belgium’s mint to close in 2018
Coin production will be outsourced to save money, given decline in production, losing no jobs in the process, Mint official says
Keith Arnold, Belize's longest-serving governor, dies
Arnold, who served as central bank governor for 10 years in the 1990s, dies at 72; he held three major financial offices
UK’s Royal Mint to supply 150 million Argentinian peso blanks
The UK’s Royal Mint will ship coins, along with equipment, to Argentinian mint, where engineers will help with the final design stamping
Wide differences exist in European fintech regulation, EBA says
Largest proportion of surveyed firms subject to no regulation
Zimbabwe back to printing bond notes
Reserve bank to release an extra $300 million into the system from August to deal with forex demand; governor says bolstering regulation should help “plug” forex leakages
Moody’s upgrades UK banking sector on improved capital positions
Banks' funding costs have declined and insurance against bank defaults is at its lowest since the financial crisis, while capital buffers have increased
Opposition politicians call for Malaysian central bank to reopen probe
Move follows US government lawsuit claiming over $1.6 billion in assets and damages
Michael Wong Pakshong, 1931–2017
MAS’s first managing director led the institution from a turbulent foundation amid the collapse of Bretton Woods through a challenging period of monetary reform