News
Central Bank of Malta restructuring probably complete
The institution is moving from five directorates to six divisions; latest changes see statistics department partnered with financial stability as overlaps between them increase
Nouy criticises EC’s regulation reform proposals
ECB supervisor questions a “one-size-fits-all” approach to supervision
SNB able to cut rates further, Jordan says
Thomas Jordan says Switzerland’s central bank could lower its deposit rate further into negative territory or buy foreign currency if necessary; Jean Studer defends governing board size
Swift to ‘streamline’ cross-border payments with DLT framework
Swift to launch blockchain proof of concept later this year utilising the ‘hyperledger fabric’
RBNZ’s Krippner: term structure models can make for better policy
Central bank economist talks about his work on modelling monetary policy at the zero lower bound, and what comes next
Draghi stands firm on QE
Eurozone recovery seems stronger, ECB president says
People: RBNZ’s Bascand takes new role; Lithuanian deputy reappointed
Geoff Bascand becomes head of financial stability; Raimondas Kuodis gets a second term; Bank of Israel promotes two officials
Bank of Lithuania tailors new website to different audiences
Central bank launches redesigned website with the aim of making it easier to use; includes new sections designed for specific audiences while data presentation received overhaul
Governors think unconventional tools may not stay – ECB survey
Advanced economies’ governors are more likely to favour keeping QE tools
Bank of England unveils money market code of conduct
Code is voluntary, but BoE expects market participants to sign up as it was drafted “by the market for the market”
Spanish central bank reorganises directorates
New associate director-general for banking supervision appointed
Regulators told to play greater role in cyber security
Companies can’t battle threats on their own, CFTC told
Norway’s Nicolaisen: central banks must guard against e-money takeover
Private electronic money can bring drawbacks, especially in a crisis, Norges Bank deputy governor warns; central banks need to come up with better options
Italian banks will not block recovery – deputy governor
Further reforms of loan law are necessary, says Rossi
Fed greenlights Wells Fargo revamp, lifts growth limits
Bank’s 2015 plan contained “deficiencies” that have now been corrected, US agencies say, although a further hurdle is coming this year
Influential UK committee chair Andrew Tyrie to step down
MP says he will not seek re-election, ending a 20-year career in parliament, during which he oversaw major changes to UK financial regulation
Ukrainian inflation set to follow ‘erratic downward path’, NBU says
Central bank predicts inflation will only reach single digits in last quarter
China’s NPL problem has ‘stabilised’ – PBoC’s Yi
Deputy governor says non-performing loans are “pretty much stabilised” and capital outflow pressures have declined
Reserve managers move to less traditional instruments – survey
More managers are increasing their holdings of corporate bonds
Income inequality should be a concern for central banks – IMF panel
IMF panel debates impact of unconventional monetary policy on income inequality, concluding institutions should be more aware of policy effects on income disparities despite no specific mandate
Rajan and Weber: central banks may fail next crisis test
Heavyweight economists say central banks may well find themselves intervening at the next major liquidity crisis, despite ostensible progress on resolution
PBoC’s Zhou: 6.5% growth target is ‘within reach’
Governor says he believes China’s growth target is attainable, as he urges countries to remain open to trade and investment
New governor appointed at Reserve Bank of Malawi
Former government official takes over from Charles Chuka, who spent five years as governor
Fed fines Deutsche Bank on Volcker rule breach
Bank hit with fines for “unsound” practices in forex markets and violation of Volcker rule; Fed’s Powell admits the rule may need simplifying