News
Fed could shrink balance sheet to end “twist” on yield curve – Bullard
Allowing some bonds to run off the balance sheet could permit a more natural yield curve, St Louis Fed president says; San Francisco Fed’s Williams says a March rate hike expectation is “on the table”
Czech National Bank reorganises supervision department
Bank says it will increase staffing of revamped division
Caruana: financial globalisation is not over
BIS chief says “peak finance” has not arrived, despite signs of a slowdown in global banking activity; warns against inward-looking policy-making
Cash is here to stay – SNB’s Zurbrügg
SNB official says reports of cash’s “death” are “exaggerated”; central bank has no plans to stop printing banknotes as its popularity remains
Norway’s oil fund delivers strong returns in 2016
Fund enjoys nearly 7% growth, with strong equity performance leading the way; strategy envisages work to improve efficiency and overhaul investment platform
Ukraine central bank: governor is not considering resigning
Local reports say Valeria Gontareva wishes to step down; NBU gives first custodian contract to commercial bank
Hogg stresses readiness to resist groupthink at BoE
New joint deputy and COO says she is willing to stand up to Mark Carney after committee chair flags risk of “over-mighty governorship”
EC: regulators could adapt rules to protect bond liquidity
Official recognises regulatory hit to corporate bond and repo markets, but rejects Mifid delay
Sri Lankan finance minister accuses former governor of fraud
Ex-president and former central bank governor are both accused of “fraudulent management of public debt”
MAS forms council to toughen corporate governance code
Ageing code of corporate governance needs to be updated to reflect best practice, authority says; chairman notes pressure on companies to become more transparent
BIS creates DLT analytical framework for central banks
CPMI working group lays out important questions for central banks when implementing distributed ledger tech for payments and settlement; access is a key concern
People: CBRC gets new chair; Colombian board member appointed
Veteran official takes top job at Chinese banking regulator; Gerardo Hernández Correa joins Colombian central bank; appointments at ESM and Czech National Bank
Worrell fired from Central Bank of Barbados
Finance minister removes governor from post after court battle; deputy appointed by the board to serve as new governor
Bundesbank official: Don't count on ‘economic sanity’ in Brexit talks
Equivalence agreement is “not a reliable substitute” for passporting, but the UK should have an interim regulatory arrangement, Bundesbank’s Andreas Dombret says
ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
IMF stays tough on debt relief as it prepares to return to Greece
Maurice Obstfeld and other top officials stress the fund’s demands on debt sustainability; mission to return to Greece next week
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month
BoE acts to tackle disparity in capital requirements
PRA plans measures it believes will boost competition and address adverse incentives generated by the standardised approach to calculating risk weights
Ukrainian central bank crackdown on capital flows to Russia
Governor says coal blockade may force central bank to take emergency measures including re-imposing exchange controls
Worrell’s woes: Barbadian governor battling on two fronts
Further evidence emerges on governor’s clash with finance ministry and board; Worrell worried about level of reserves and fiscal spending, while senior management complains of being marginalised
Shafik calls for candidness on uncertainty in her final speech
Outgoing Bank of England deputy says central banks must do more than just increase transparency if they are to restore trust
Alan Greenspan says gold standard would have reined in debt
Former Fed chair says US would not be so indebted if it was on the gold standard; gold is the “primary global currency”, Greenspan says
Target2 robust enough to withstand liquidity shocks – ECB study
Research modelled the effects of “extreme collateral deteriorations” on Target2 participants
Plummeting inflation prompts Bank of Zambia action
Central bank cuts policy rate by 150bp, in addition to a cut to the overnight lending rate and reserve ratio; inflation falls from over 18% to 7% in a matter of months