News
EBA says European banking supervision practices are converging but some areas lag
European banking supervisors achieved considerable cross-border convergence in some areas in 2015, but other fields retain differences, EBA report says
East African governors praised for balancing act
Central bank heads in region have “done extremely well”, Kaberuka says; panellists at Bank of Uganda event debate central bank mandates and role in development
Shirai urges BoJ to change course
Former policy board member says the Bank of Japan’s current policies are not sustainable, recommending a rethink of policy mix and communication strategy
Bank of Canada sees ‘modest effect’ from Brexit
Canadian and US central bankers size up cost of UK’s vote to leave the EU; Carolyn Wilkins and Patrick Harker do not see large impact on growth from direct trade effects
Slovenian finance minister criticises police raid on central bank before resigning
Slovenian finance minister describes police raid on central bank on July 12 as an "attack" then resigns on July 13 citing personal reasons; central bank also criticises action
Research explores lifting fingerprints from polymer notes
Team of scientists trial technique to ‘lift’ fingerprint from polymer surface; stress suitability of elemental copper for use in forensic examinations
BoE holds but MPC expects August easing
Pound appreciates as monetary policy committee votes 8:1 to leave rates at 0.5%; "most" committee members expect monetary stimulus in August
Bank of Tokyo abandons JGB primary dealer role
Bank of Tokyo-Mitsubishi UFJ steps back from role citing “business optimisation”, in the latest sign the Bank of Japan’s policy is putting the squeeze on bank profits
Dombret sees no need for ECB response to UK vote
Deutsche Bundesbank’s Andreas Dombret says it is not clear to what extent further easing would boost economy; warns against deeper European integration at any cost
Bangladesh has more FX reserves than it needs, chief economist says
Biru Paksha Paul says Bangladesh only needs enough reserve to cover six months’ worth of imports, and it has now exceeded that; sees benefits from low fuel prices in recent years
Argentine central bank holds rate on its bonds with eye on inflation
Reference rate held at 30.25% ahead of second inflation figure release; second monthly statistic from Indec due today, no official annual figure yet
IMF executive board calls for greater gender equality among directors
Fund executive board encourages members to consider gender diversity when nominating directors, while encouraging female candidates to seek positions
CPMI digs into data on correspondent banking pull-back
Study based on Swift data and banking interviews sheds light on uneven pace of decline in correspondent banking; CPMI offers recommendations to help reverse direction of travel
Norges Bank questions contingency plans for cash distribution
Report warns Norwegian banks’ back-up plans “may prove inadequate” in a crisis; both the central bank and financial supervisory authority in communication with the finance ministry
Slovenian central bank says governor will not resign
Slovenian prosecutor-general rejects complaint by Draghi into police search of central bank offices, saying relevant magistrate acted within his powers
Swift brings in external firms to support security work
UK firm BAE Systems and Dutch company Fox-IT will be part of effort to strengthen cyber security; Swift says information-sharing initiative has “grown significantly” since launch
IMF staff propose additional reforms to Italian banking sector
Directors at the fund “commend” the Italian authorities for reforms so far, while staff suggest a range of additional measures to tackle issues around resolution and NPLs
UK parliamentarians to examine exchanges between Carney and Osborne
Bank of England governor defends position on Brexit analysis to MPs; process to be agreed regarding examination of discussions between chancellor and BoE governor
Ukraine hands more regulatory powers to central bank
Ukraine’s central bank welcomes a belated vote for key financial reform; the National Bank of Ukraine will now have powers over the country's insurance sector, which observers say is in a “questionable” state
EBA says number of women in senior positions at European banks is ‘very low’
EBA says most European banks lack diversity policies for senior management despite legal requirements; senior managers are more diverse by age but not by “geographical provenance”
Latvian central bank becomes lead authority on counterfeiting
New anti-counterfeiting centre will take over from police the task of detecting fake currency in all currencies; new approach will be more efficient and will not need more resources, bank says
Orphanides: governments should rein in ‘immense power’ of central banks
Central bank balance sheets give them power to dramatically affect the distribution of wealth, undermining democracy, former Central Bank of Cyprus governor argues
Basel Committee scales back risk weights in revised securitisation standard
Tighter definition of what counts as a “simple, transparent and comparable” securitisation gives room to allow “modest” reduction in capital requirements, committee says
Constâncio calls for ‘deep reflection’ on public support for banks
ECB vice-president Vítor Constâncio suggests European Union should consider relaxing its rules on state aid to banks; cites IMF concerns and example of US bail-out