News
RBI highlights bad debts as it holds rates
Surprise hold as committee sees “very sticky” core prices and global effects; central bank may create a ‘bad bank’ to tackle NPA problem
Bank of Russia sets up two new regulatory departments
Responsibilities include administration regimes, managers’ qualifications and external audit
Philippines central bank enforces virtual currency regulation
Exchanges will have to apply for certificate of registration and implement specific risk management framework; central bank imposes transaction limit
Ukrainian central bank protests over senior official's arrest
Move comes amid political attacks on NBU governor Gontareva
Fed paper flags risk of low rates misallocating capital
Where firms rely heavily on intangible capital, lower rates could harm firms’ investment and contribute to secular stagnation, economists warn
Future of Greek austerity divides IMF board
Some directors dissent from call to reduce mid-term primary surplus target
Graeme Wheeler to stand down this year
RBNZ governor will not seek a second term; deputy to take interim role as succession process complicated by elections
Angola disregards IMF advice on exchange rate overhaul
Angolan authorities disagree with IMF over suggested exchange rate framework changes but agree to a banking sector clean-up
Some credit unions don’t vet senior staff – Irish central bank
“Fitness and probity” requirements are not being followed by all unions, the report says
Draghi: eurozone ‘bad bank’ would not be ‘panacea’ for NPLs
ECB president also rejects criticisms made by the US president’s trade adviser
Fed unveils stress scenarios under revised testing approach
Tests now include model enhancements, new phase-in methods and lighter requirements for some banks; the severe scenario has been turned up a notch
National Bank of Poland to release new highest value banknote
500-zloty note will enter circulation on February 10 and be the last of the new series, which was first announced in 2014
Kazakhstan’s Akishev sets sights on lower inflation
Governor hails success with inflation targeting and says central bank now plans to push inflation even lower; NBK also working on new banking supervision framework
US congressman: Yellen must stop international negotiations
Fed must allow President Trump to appoint new officials, Republican lawmaker says; calls for “fundamental review” of Basel III and other recent accords
BoJ acts to thwart pressure on yields
Central bank commitment to yield curve control faces first serious test; BoJ launches unlimited purchases to hold yield down
Esma sets out 2017 work programme
Strategy and governance among key priorities, Maijoor says
Bank of Russia sets up fintech body and gains internet-blocking powers
Central bank holds policy rate saying recent fall in prices due to “temporary” factors
Kenya’s monetary policy framework under threat – IMF
New interest rate caps are “constraining” the central bank’s ability to conduct monetary policy while negatively affecting banks’ profitability, but action plan could see them eliminated
Norges Bank defends policy framework amid government review
The government is assessing the central bank’s governance and monetary policy; Norges Bank says it needs a “long and flexible horizon” to be able to properly conduct its policy framework
BoE signals extra slack as it revises growth outlook upwards
Mark Carney indicates the MPC is willing to keep rates on hold, although risks may emerge as details become clear about the UK’s EU departure; UK government publishes a white paper on Brexit
African regulators want regional regulatory structure – Basant Roi
“Political will” to support financial regulatory reform in Africa is “missing”, says Mauritius governor; IMF chief says resolution frameworks are “insufficient”
Energy base effects pushing recent eurozone inflation – ECB
Effect estimated to be negative for much of second half of 2017
FCA's McDermott joins StanChart
Former FCA acting chief executive starts her new role in March
People: Finland sets out new board responsibilities
Two new members have been appointed to the Czech central bank’s board; new counsellor to Draghi replaces Smets at the ECB