News
Riksbank proposes changes to inflation target
Central bank plans to use a variable that avoids short-term distortions, and to reinstate a band around the target
HKMA tightens restrictions on bank loans as risks rise
The city’s de facto central bank is trying to contain credit risk among banks as their exposure to housing developers is growing
Banks mull dedicated IFRS 9 capital buffers
Volatility of loan-loss provisioning from new accounting standard demands additional own-funds protection, say banks
Digital currency could remove need for positive inflation target, economists argue
Proposed digital framework eliminates the need for “inflation buffer” and promotes transparency of the balance sheet
FSB’s Mena group meets in Abu Dhabi
Turkish and Qatari governors are set to chair the regional group from June 30
PBoC deepens interest in fintech with new committee
Fintech committee will be charges with investigating the pros and cons of financial innovation and producing guidelines where appropriate; China’s central bank deepens cooperation with IMF
ECB sets out standards for bank board members
New guidelines are an effort to harmonise standards across eurozone states
Bank Negara Malaysia to ramp up misconduct supervision, says Ibrahim
Shocking survey results shows 15% of respondents would act ‘unethically’ when not being monitored; new guidance principles and transparency framework to help, BNM governor says
Let the market regulate banks – FDIC’s Hoenig
Vice-chairman offers proposal that would take an axe to risk-based capital, stress testing and parts of the Volcker rule
Sint Maarten finance minister issues ultimatum to central bank board
Gibson issues ultimatum to board regarding replacement of suspended central bank president Emsley Tromp; board members told to act in the best interest of the bank or be fired
Spanish court drops charges against central bank staff
Ex-governor and three senior regulators will not face charges over ‘Bankia affair’
Eiopa to revisit standard formula calibrations in ‘recurring exercise’
Authority considering periodical reviews to preserve Solvency II’s risk sensitivity
Peru cuts rates for first time in more than two years
Reversal in food prices prompts board into action, with inflation now expected to end the year within target band; central bank will remain attentive to external conditions
IMF’s Werner: central banks need better understanding of interventions
Central banks in Latin America have employed a host of unconventional market interventions, but figuring out what works and what does not is proving tricky
Industrial goods inflation may be building, ECB says
Prices of goods produced in eurozone see only “subdued” growth
Sterling depreciation will increase pace of tightening, BoE says
Inflation will overshoot target for longer period, reveals latest Inflation Report, but raising rates will not help, BoE says; “extraordinary circumstances” call for delicate balancing act
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
IMF urges new macro-pru tools for RBNZ to tackle housing market
Debt-to-income tools would complement existing macro-prudential toolkit and help rein in household credit, fund says; RBNZ in pursuit of such powers but decision must come from government
Gambian governor and deputies dismissed, local media reports
Governor was appointed by recently deposed president
Ukrainian deputy to serve as interim governor
Ukraine’s president has yet to nominate replacement for Gontareva
Tromp claims prosecutors are acting ‘negligently’; rejects tax fraud claims
Suspended governor accuses prosecutor’s office of being “driven by forces other than establishing the truth”; Tromp rejects allegation of tax fraud and claims he has acted within the law
Barbados raises reserve requirements for first time in a decade
Acting governor holds first press conference since 2014 to field questions about state of the economy; country needs “stronger fiscal discipline” before it can go to IMF, Haynes says
Growth of shadow banks led by risky investment vehicles – FSB
Shadow banks continue to gain ground, with those offering liquidity and maturity transformation showing some of the fastest growth
Capital deepening ‘virtually absent’ in US and eurozone – ECB
US and eurozone have seen major falls in net investment, an ECB article says