News
Ukrainian central bank says rail blockade will cut growth
Improved export prices should offset embargo’s effects, NBU says
PBoC appoints two to monetary policy committee
Guo Shuqing and Ding Xuedong join policymaking panel in reshuffle of senior officials
Time to shrink Fed’s $4.5 trillion balance sheet, say presidents
Cleveland Fed president is “comfortable” changing reinvestment programme this year; balance sheet plan should be published as soon as possible, says Kashkari
G20 should create central bank blockchain group – think tank
Policy brief stresses the need for the G20 to be a leading figure in the blockchain debate; new consortium to discuss implications for monetary and fiscal policy
Don’t tighten SFT regulations without more data – ESMA paper
Move before 2018 could increase chance of “unintended consequences”
Carney: no double standards on conduct at BoE
Governor says central bank held itself to even higher standards than it expects of regulated firms in dealing with Charlotte Hogg’s disclosure mistake
MAS’s Menon stresses importance of fintech regulation timing
Fintech needs regulation, but it should not “front-run” innovation, says Menon; regulation should “kick in” only when fintech risk “crosses a certain threshold”
RBA’s Ellis examines the central banking community’s gender problem
RBA makes changes to processing candidate applications to remove unconscious bias, Ellis says; central bank recognises women face challenges when entering economics
Boost technology diffusion to solve productivity puzzle – Haldane
BoE’s chief economist says a “long tail” of low-productivity firms need support as they fall further behind a small frontier group
Denmark pays off all foreign debt for first time in 183 years
Government pays off its last foreign currency loan, leaving it free of foreign debt for the first time since at least 1834
ECB issues final guidance on NPLs
Supervisors are writing to larger eurozone banks with high NPL levels
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
People: Wilkins part of new IMF fintech team; Kanungo appointed as RBI deputy
Bank of Canada deputy joins IMF’s new fintech group; new deputy governor to take office at RBI; and more
Angeloni cautions over Commission’s SREP proposal
ECB regulator also welcomes EC’s Pillar 2 capital suggestion
Russian central bank opens first overseas office in Beijing
Russian and Chinese authorities announce a collaboration on payment systems and money laundering prevention
Carney warns of fading regulatory momentum
“Nascent risks” could threaten progress made so far if lawmakers and regulators give in to “reform fatigue”, the FSB chairman says
BoE collaborates with fintech firms to enhance payment system
BoE establishes new fintech community to discuss developments in the industry; next round of proof-of-concepts to examine ‘interledgers’ and threat intelligence
MAS considers revising limits on coin payments
Singapore central bank mulls blanket restriction of 10 coins per denomination in a single transaction; new arrangement would align the country with Norway and Switzerland
Turkey keeps tightening with secondary instruments
Hike in late liquidity facility gives room for further tightening, as the central bank responds to inflation hitting double figures
Cambodia ‘caps microfinance interest rates’ – local media
85% of the country’s borrowers use microfinance institutions, the survey estimates
Ukraine central bank proposes sanctions on Russian-owned banks
The move follows nationalist demonstrations against the central bank’s governor, Valeria Gontareva
PBoC working to rein in shadow banking risks
Central bank is toughening its regulatory stance and tightening interbank liquidity as shadow banking products proliferate
IMF Paris explosion leaves one injured
Letter bomb explodes at the IMF headquarters in Paris, less than a day after an explosive device was sent to the German finance minister; Lagarde condemns the “cowardly act”
BoE’s Forbes dissents as inflation looms
MPC member votes for 25bp hike as inflation looks set to exceed target until “at least” 2020; other members sitting on the fence, for now