News
Hungarian central bank delays introduction of capital buffers
Move taken “to support lending” as banks sell off portfolios of “problem loans”
Japanese survey throws light on financial education problem
First large-scale study of financial literacy shows many people have poor understanding, contributing to higher loss aversion, herding behaviour and other problems
Central Bank of Iceland gains new powers as more controls lift
Central bank given new powers over information gathering as legislation establishes next phase of capital control liberalisation
Philippines central bank adopts renminbi as reserve asset
Central bank joins a cohort of countries adopting the Chinese currency as a standalone asset; governor says it is an important development for a nation so dependent on Chinese trade
Bahamas makes $200,000 donation in wake of Hurricane Matthew
Central Bank of the Bahamas contribution of $200,000 to relief effort is in addition to typical policy responses; $50,000 being donated to relief efforts in Haiti
Bank of Uganda takes control of large commercial bank
Ugandan central bank takes over the management of Crane Bank, the commercial bank; clarification issued over use of governor’s signature
Systemically important investment firms should come under CRR and CRD-IV, EBA says
European Banking Authority calls on regulators to re-examine guidelines for identifying most important investment firms
Ukrainian central bank says proposed law is attack on its independence
Passing law could lead to a cut-off of IMF aid, the central bank warns; calls on country’s president to repudiate law-makers
Draghi postpones decision on extension of QE
ECB president is aiming to build governing council support for further asset purchases, one analyst argues
Brazil makes first interest rate cut in four years
Upbeat inflation figures prompt Central Bank of Brazil into action as Copom unanimously votes for 25bp cut; post-decision statement implies further cuts possible this year
Lack of diversity is holding Fed back, says San Francisco president
Diversity critics have given the central bank the “kick in the pants” that was needed, said Williams, whose Fed branch is already making institutional changes to foster diversity
BoE plans could force change to Libor-Sonia swap payments
Reformed sterling overnight indexed average rate proposals may see floating-leg settlements delayed
No change to monetary policy, UK finance minister says
Hammond clarifies comments made by PM, emphasising the government will not be altering BoE mandate; finance minister says it is the government that needs to offset monetary policy impacts
Sri Lanka sets up enforcement unit after insolvency failures
Central Bank of Sri Lanka sets up new enforcement branch after unsuccessful attempt to restructure four failing financial institutions; legal action to be taken against Entrust Securities
Serbian central bank report indicates slow progress on reversing ‘euroisation’
Most loans and deposits in the country are still denominated in foreign currency, National Bank of Serbia report shows
Irish central bank publishes minutes of first macro-prudential committee meeting
Governor and senior staff approve current O-Sii and C-Cyb plans; intend to look further at impact of macro-prudential measures on housing markets
Pelaelo to take over as Bank of Botswana governor
Deputy has risen through the ranks and will replace Linah Mohohlo on October 20; president announces his decision through social media
UK inflation jump to 1% is just ‘tip of the iceberg’
Latest inflation data shows leap from 0.6% in August to 1% in September; former MPC member Sentance says this is just tip of the iceberg
Ukrainian central bank drops open forex auctions
National Bank of Ukraine aims to “minimise its presence” in the foreign exchange market by dealing directly with large banks via a closed system
QE is not hurting pension funds, says Broadbent
‘Material constraints’ not seen yet, says BoE deputy governor, who believes problems are being driven by more fundamental causes
Asia’s longest-serving governor to step down
Perng Fai-nan says he will retire as governor of Taiwan’s central bank when his fourth term ends in 2018 following two decades of strong currency and financial stability management
People: Finland appoints two central bank board members; Atlanta Fed promotes senior managers
Former European Commissioner Rehn joins Finnish board; Atlanta Fed makes four promotions; Switzerland changes regional delegate
Fed might stimulate labour market with ‘high pressure’ economy
Fed president floats idea of dealing with weak labour markets by “high-pressure” economy; Boston Fed’s Rosengren points to key ‘puzzles’ in data on US economy
Asia resolution rules risk conflict with G-Sib home regulators
Branches fear local regulators could ask banks for confidential home market information