News
Any London forex trading move would be ‘gradual’ – ECB
City’s place in global submarine cable network is likely to be key, researcher says
Inflation data causes rift in FOMC
Fed officials discuss whether incoming low inflation data is “transitory” or is a sign of worrying things to come; minutes outline balance sheet unwinding but date remains unknown
Change in ownership would not impact mandate, Sarb reassures
South African central bank responds to ruling party discussion on nationalisation; draft resolution could be approved in December, forcing over 660 people to sell their shares
Wholesale funding ‘dry-ups’ driven by bank quality, ESRB paper argues
Researchers use data on certificate of deposit market between 2008 and 2014
SBP clashes with government on exchange rate drop
Pakistan’s finance minister expresses “deep concern” over sudden drop in currency, but central bank says it is now “broadly aligned” with fundamentals
European Commission approves Monte dei Paschi recapitalisation
Move to reimburse investors should remove key political obstacle
PRA urges insurers to act on ‘silent cyber’ risks
Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks
Open letter condemns public protector’s Sarb comments
Mkhwebane’s comments pose “grave threat” to South Africa’s economy, academics and economists warn, though they are open to mandate debate as long as it is “appropriate”
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
New leaders take charge at Philippines central bank
New governor pledges to enhance financial inclusion, mitigate cyber-crime risk and fine-tune monetary policy to make it more market-oriented
Sierra Leonean president nominates new governor
Former governor resigned to contest next presidential elections, reports say
Syria’s new high-denomination banknote to feature President Assad
President to adorn new 2,000 Syrian pound banknote, worth around $4; central bank governor says plan for new note has been in pipeline for years
Carney hails progress but Basel III must be completed ‘urgently’
FSB chair calls for more work on over-the-counter markets
Basel Committee flags shortfalls in implementation
European Union is yet to fully comply with the liquidity coverage ratio, while many jurisdictions are lagging behind in other areas
IMF paper backs issuance of central bank digital currencies
Fund finds large benefits to issuing own digital currency in terms of cost savings and efficiency gains, but issues around distribution remain
Too early to tell if eurozone NPL reforms are sufficient – ECB
Changes to legal systems are “not keeping pace” with new laws
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Russian central bank slams ruling in €1bn Sberbank swaps case
Lawyers say shock court judgement in ruble options dispute “puts hundreds of contracts at risk”
Bank of England staff vote for strike action
Central bank faces four days of disruption among support staff, with the union threatening to “escalate” the matter to other departments
Brazil cuts target as inflation plummets
New target now more in line with regional peers, says finance minister; corruption charges could threaten financial stability in the long run
Bank of Jamaica chooses overnight deposits for new policy rate
Bank of Jamaica continues to make changes to monetary policy framework with goal of fully fledged inflation targeting in mind
Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues; market participants see laws as adequate but concerned about cyber security
Bond sell-off slows as markets digest central bank comments
Upbeat comments from ECB and BoE chiefs trigger brief tantrum, but bond markets now appear to be settling down
EC must address concerns over state aid – ECB’s Angeloni
ECB supervisor says Italian aid to Intesa raises serious questions