News
Fed delivers 25bp hike
Fed makes rate hike that many FOMC members have been hinting at for weeks; committee gives bullish signals on the outlook
Shadow banking links leave EU banks vulnerable – ESRB paper
European banks are largely exposed to three types of shadow financial entity, study finds
US deregulation may hinder adoption of Basel III – Dombret
Agreement has been reached on most German concerns, but the level of output floors is still key, says the Deutsche Bundesbank official
BoE’s Jackson: need to intervene on market function still an open question
Head of forex and reserves management discusses evolving understanding of flash events, market structure, and whether there is a case for further intervention
Bank Negara Malaysia looks to boost bond market risk management
Malaysia’s central bank discusses ways to enhance the bond market's breadth and transparency with participants; repos could be used to improve liquidity
FSB sets out proposals for governing ‘unique transaction identifier’
System should avoid “unnecessary complexity”, document argues
Latin American central bank interventions 'mitigate' liquidity shocks
Central banks more concerned with global factors than structural changes to forex markets; post-crisis regulation and tech advancements proving problematic for market makers
Japan and Singapore agree regulatory fast-tracking of fintech companies
“Framework agreement” also provides for information-sharing on fintech innovations
Federal Reserve Banks to work with Swift to make cross-border payments ‘more traceable’
US payment systems partner with Swift to improve cross-border payment speed and traceability; Federal Reserve Banks and The Clearing House make gpi available to clients
Charlotte Hogg resigns from Bank of England
New deputy governor is stepping down as a damning report on her conflict of interest and suitability for the role is published
Atlanta Fed names new president
Raphael Bostic will be first African-American to be a regional Fed president
RBI research: demonetisation hit growth but helped inclusion
Authors find scrapping high-value notes impacted Indian growth and inflation but pushed many people to open bank accounts and improved policy transmission
Iceland lifts capital controls
Controls on individuals, firms and pension funds lifted, though the central bank will retain controls on inflows to resist carry trade
Nigerian recovery plan envisages new exchange rate regime
Plan calls for rationalisation of exchange rate structure and echoes many of central bank governor’s criticisms of status quo
US policy is “ultimate risk” for emerging markets – panellists
Expert panel says US fiscal, trade and monetary policy all have the potential to cause trouble for emerging markets in the coming months, though some risks seem over-stated
BoJ working to earthquake-proof its headquarters
Historic building has survived major disasters in the past, but the BoJ now wants to put the 75,000 ton building on “seismic isolation bearings”
People: FSB appoints Kganyago and Chan to committees; Bank of Spain picks new directors-general
Financial Stability Board replaces Menon and Tarullo with South African and HKMA governors; Bank of Spain makes appointments in financial stability and supervision; and more
‘Substantial’ accommodation must continue – Draghi
ECB president says underlying eurozone inflation remains “subdued”, despite rise in headline rate; he sounds the alarm over the possibility of a “competitive devaluation” by advanced economies
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Somalian central bank to print first notes since 1991
New 1,000 shilling looks set to enter circulation in 2017 with extensive assistance being provided by the IMF; central bank has struggled to operate amid civil war
Ghana issues banknote with QR code
New ¢5 note with 2D barcode to help educate the public on the numerous security features; bank to celebrate sixtieth birthday in August
MAS unveils new DLT plans for securities and cross-border payments
Success of initial project leads authority to launch two 'spin-off' projects, including a possible cross-border application of central bank-issued digital currency
Hungarian deputy governor loses responsibility for macro-prudential policy
Nagy replaced as head of Budapest stock exchange two days earlier
RBNZ to rethink capital requirements
Review will reassess country’s approach to Basel III implementation, after Australia decides to bolster its banks’ capital to be “unquestionably strong”