News
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Haldane hopeful for ‘rebirth’ of economics
BoE chief economist believes crisis for the profession could lead to a break with past thinking; offers solutions to productivity problems
Bank of Israel cuts 2017 budget as building and banknote projects wind down
Central bank continues process of budgetary restraint as it unveils work plan for 2017; spending on renovation and new technology and emergency centre falls
Sri Lankan government to restructure central bank
Central bank is to be restructured with amendments to the Banking Act, but disagreements remain between the finance minister and governor; inflation-targeting framework appears to be on track
Ukraine acts to cover ‘major shortfall’ in nationalised bank
NBU also tightens bond auction anonymity and announces restriction on use of cash to settle payments
UK competition authority raises concern on VocaLink sale
Sale of payments infrastructure provider to MasterCard could harm competition on ATMs, but unlikely to be a problem for wider payment systems, CMA finds
People: vice-governor appointed at PBoC; Bank of Canada creates new comms role
China’s State Council appoints Harvard graduate to replace Guo Qingping; Jill Vardy becomes adviser to Stephen Poloz; and more
Hans Tietmeyer, 1931-2016
Former Bundesbank president played key roles in German reunification, European single currency and reform of international financial regulation
Dwight Venner, 1946-2016
The long-serving central bank governor has died aged 70, having spent 26 years at the head of the Eastern Caribbean Central Bank
Bank of Italy sets up joint cyber security organisation
New organisation in collaboration with Italian banking association; will provide “cyber emergency operating centre”
People: RBI’s new deputy gains BIS scholarship; Mozambique names deputy
Reserve Bank of India appoints BIS scholarship winner to deputy post; Victor Gomes takes role at Bank of Mozambique; and more
Basel III completion date pushed back
Governors and heads of supervision to delay meeting that would have given final approval to Basel III, as disagreement continues on output floors
2016: The year in review
The past year was characterised by dramatic political events, and central banks did not always manage to stay above the fray; we look back at some of the biggest stories
Riksbank extends QE, despite dissent
Additional Skr30 billion of purchases takes Swedish QE programme to mid-2017; central bank cites continued risks to the outlook, but three members challenge decision
Rohde criticises Italy's calls for BRRD special treatment
Danish governor believes the forceful implementation of Europe’s new bank resolution rules represents a “game-changer”; laments Basel’s shift from risk-based regulation
French central bank reveals details of blockchain experiment
Banque de France teams up with a fintech start-up to run distributed ledger tech through Sepa; the results of project expected to be presented at a conference in 2017
FSB: Japan should strengthen financial stability framework
Latest peer review says Japan has work to do in improving the macro-prudential framework and clarifying approach to resolution
Polymer banknote provider Innovia bought for $845 million
Innovia bought by Canadian competitor following a “successful” year; CCL to build on the polymer provider's expertise in the field
European agencies see pitfalls in growing big data use
Financial products likely to become more tailored to consumers, but that will not benefit everyone, regulators warn
Venezuela’s Maduro backtracks on bolivar withdrawal
Venezuelan currency crisis continues with delay of new series and re-integration of 100 bolivar note, as president blames “international sabotage”
Yen weakness brings relief for Bank of Japan
Policy on hold, but central bank sees brighter outlook for 2017; yen close to lowest level this year, following Trump shock
HKMA launches fintech accelerator
In partnership with Astri, initiative will “nurture” talent to meet the growing need for fintech innovation in the region
IMF board backs Lagarde after negligence verdict
Executive board affirms “full confidence” in managing director after French court hands down negligence verdict, but chooses not to impose punishment
Ukraine nationalises country’s largest bank
Gontareva says PrivatBank failed repeatedly to take necessary action, and so will be transferred into public ownership; central bank creates emergency liquidity facility