News
NBIM records Q3 loss amid stock market volatility
Norges Bank Investment Management posts uncomfortable loss in third quarter, driven by sharp drop in its equity investments, but fund’s chief executive stresses long-term focus
Turkish central bank may act as inflation forecasts rise
Declining exchange rates and rising food prices have pushed inflation expectations upwards, monetary policy committee says; governor says he will raise interest rates if necessary
Riksbank unleashes further easing
Central bank hopes extended asset purchase programme and commitment to keep rates lower for even longer will help reinforce a gradual upward trend in growth and inflation
RBA sees no ‘financial stability case’ for repo CCP
Central bank decides not to actively encourage the (re)creation of a repo-focused central counterparty, but says it will work with the industry if it wants to take the project further
Central Banking award winners to be revealed in January
Awards include Central Bank of the Year and Governor of the Year, and the prestigious Lifetime Achievement award
Vocalink to deliver ‘new generation’ real-time payments in US
CEO David Yates tells Central Banking there will be unique challenges to delivering real-time payments in the US, as Vocalink is chosen to provide software behind faster payments project
Venezuelan central bank sues US data website
Central bank accuses black market data website of artificially raising the rate of inflation in the country
Hungarian central bank to bid for country’s stock exchange
Hungary’s central bank is in talks with Austrian banks to buy a majority shareholding in the country’s stock exchange
National Bank of Kazakhstan plans overhaul of interbank card payment infrastructure
Central bank looks to create new infrastructure for interbank card payments with the aim of improving the efficiency with which banks plug into clearing systems
Kohn warns of 'serious shortcomings' in US macro-prudential framework
Former Fed vice-chair says inability to impose LTV and LTI ratios on mortgages may imperil US rate weapon at a time when central bank is failing to meet targets
ECB sparks bank tug-of-war over debt eligibility
The European Central Bank may force local regulators to choose whether banks can use senior debt for TLAC or to access its liquidity programme – setting G-Sibs against regional banks
Former Nigerian governor Sanusi attacks current central bank policy
Former governor of the Central Bank of Nigeria Sanusi Lamido Sanusi challenges monetary policy stance of Nigeria’s central bank and calls for a currency devaluation
South-eastern European banking supervisors agree to co-operate with EBA
Six supervisory agencies agree to share information with European Banking Authority
External debt is Greece’s perennial Achilles heel, economists warn
Cycles of external debt and dependence are ‘perennial themes’ for Greek crises since 1829, and other countries may be similarly vulnerable, Carmen Reinhart and Christoph Trebesch argue
BoJ lifts lid on new approach to macro stress testing
Tests designed to measure system-wide impact of a ‘tail event’ on financial and economic stability, allowing comparisons over time; BoJ reveals underlying variables for first time
Retail banking investigation findings criticised by MP
First report from investigation on retail banking criticised by Andrew Tyrie for its findings on ‘free-if-in-credit’ model for current accounts
Fed support high on wish list for buy-side repo clearing
Risk USA panellists want liquidity support for planned new services
Long-term low interest rates risk financial instability, Geneva report argues
Long-run accommodative monetary policy could raise risks to financial instability, Charles Bean and other economists argue; issuance of leveraged loans in US corporate market on the rise
Communication and education the answer to transparency 'paradox', says RBNZ's Hannah
Mike Hannah discusses the findings of the Reserve Bank of New Zealand's first external stakeholder engagement survey and their implications for central bank comms
China confirms launch of QDII2
Scheme allowing Shanghai-based individuals to invest overseas agreed in meeting chaired by Premier Li Keqiang this week
Liquidity issues demand further work, says BoE’s Cunliffe
Greater fragility of market liquidity requires reassessment of regulation, new stress tests and better data, BoE deputy says; private sector economists warn of distortionary effects from QE
UK’s Osborne defends ‘middle way’ struck by BoE bill
Finance minister tells MPs the decision to drop the reverse burden of proof avoids creating a two-tier regime; talks up value of BoE independence in response to concerns over NAO role
Draghi sets stage for December easing
Governing council could adjust asset purchases or cut rates further at next meeting, ECB president says; staff tasked with examining different options as they were before QE launch
Regulators push back at complaints of fatigue
EBA chief and secretary-generals of Basel Committee and Iosco defend their work so far and stress the bulk of regulation will be completed in 2016 – though there is more on the horizon