News
Ukrainian central bank calls for parliament to pass consumer protection law
Ukraine’s central bank has called for the country’s parliament to pass two stalled laws aimed at protecting consumers of financial services as concerns grow over provision of foreign aid
Austria should ‘stand ready’ to tighten capital requirements, IMF staff say
The country has made ‘significant progress’ in restructuring the regulatory and supervisory framework, the report says, but the banking sector's resilience could be strengthened
Dudley says US households responding more cautiously to house price growth
New York Fed report finds housing debt has been relatively flat over past few years despite house prices rising steeply over the period; points to higher principal debt repayments
BoE sketches proposals for sharia-compliant facilities
Options for deposit facilities include wakalah or commodity murabahah, with the possibility of liquidity insurance to follow
Rajan tells banks to prepare for ‘deep surgery’
RBI governor says banks will have until March 2017 to clean up their balance sheets; banking sector represents weak spot of otherwise vibrant economy
Hungarian ‘bad bank’ gets Brussels go-ahead
European Commission authorises Hungary’s ‘bad bank’ to begin purchasing distressed real estate assets; Hungarian government and EBRD to buy up part of Erste Group operations
Certified central bankers: BoE launches new qualification
BoE says 80 students to begin postgraduate study in October; retiring Paul Fisher to help design and teach latter stages of qualification
Polish central bank warns loan proposals could pose ‘significant risk’
Poland’s central bank criticises some elements of proposals for restructuring Swiss franc-denominated loans; also argues incoming banking tax will have ‘negative consequences’
ECB chooses SIA-Colt partnership for T2S connection
European Central Bank confirms it will use SIA and Colt's 'value-added network services' to connect to Target2-securities
EBA raises concerns over Commission’s MREL changes
European Banking Authority challenges European Commission’s proposed changes to MREL criteria; opposes removal of reference to minimum burden-sharing standards
ECB ‘actively considering’ whether to scrap €500 note, Cœuré says
Executive board member says he finds arguments in favour of keeping highest denomination note ‘less and less convincing’, as evidence mounts of its role in corruption and crime
Lagarde only candidate for IMF top job
Executive board says Lagarde the only person put forward during nomination period, which closed yesterday; selection process to be completed ‘as soon as possible’
Riksbank cuts to new low, despite signs of overheating
Central bank pushes policy rate 15bp deeper into negative territory even as economy moves close to full capacity; board responding partly to policy easing abroad
BoE’s Cunliffe wants more detailed timetable for European reforms
Bank of England deputy governor welcomes ambition and honesty of five president report, published in June; hopes to see more detail on dates in future
Central Bank of Brazil faces ‘policy dilemmas’
Tombini facing tough challenge as inflation rises into double figures while the IMF predicts deeper recession; observers divided on what comes next
People: Mozambique deputy moves to airline; Mervyn King joins Aston Villa FC board
Bank of Mozambique deputy moved from central bank to national airline; former BoE governor joins premier league team board of directors; and more
Yellen says Fed unsure about legal issues surrounding negative rates
Fed chair tells Congressional committee she sees no reason why the Fed could not cut below zero if need be, but legal issues have not been ‘fully investigated’
BoJ moves to ‘ease stress’ in JGB market
More generous limits applied to securities lending facility designed to alleviate strains in the market for government bonds, though liquidity indicators do not show clear signs of tightening
NZ has ample space to respond to risks – IMF staff
An International Monetary Fund staff report says there is room to ease monetary policy further if need be, while authorities should prepare more prudential measures
RBI report lays ground for trading new derivatives
Working group proposes allowing new interest rate options in India to improve financial institutions' ability to hedge interest rate risk
BoE’s Cunliffe: UK may be close to debt sustainability limit
Deputy governor says analysis of recent UK credit cycle suggests rises in debt may leave the economy vulnerable; Cunliffe would consider action if debt-to-GDP ratio rises
China relaxes QFII limits amid calls for capital controls
FX regulator shortens ‘lock-up’ period, during which foreign investors must wait before repatriating funds, from one year to three months
IMF staff call for clarity on Morocco macro-prudential body
Staff report calls on government to clarify powers of inter-agency committee chaired by central bank governor; separate assessment details work on toolkit
German and French central bank heads back creation of eurozone Treasury
Weidmann and Villeroy de Galhau issue joint call for more integrated eurozone, potentially including joint treasury; alternative would mean different approach to sovereign risk