News
More polymer banknotes in new Nicaraguan series
Nicaragua to use polymer substrate on two additional denominations in new series launched later this month; revamp costing over $17 million
Central banks starting to unlock potential in big data
Some central banks are making tentative inroads into the study of big data, and many more want to, a study by the BIS’s Irving Fisher Committee finds
Iosco, Asifma officials urge early global co-operation on future rules
Joining forces early on would improve regulatory cohesion between countries, but post-crisis pressure on national rule-makers to legislate poses problems, it is suggested at Hong Kong conference
BoE unveils final plans for ring-fencing banks
Consultation sets out how bank holding companies should structure themselves to comply with legislation on ring-fencing, but a decision on extra capital buffers is yet to come
Polish governor criticises five presidents’ report
Marek Belka says proposals contain ‘some good ideas’ but are ’timid and vague’ about what should be done in the longer-term; speaks alongside Ewald Nowotny at Warsaw conference
Eurosystem to consider Target2 and T2S merger
Yves Mersch says officials will look into the potential for consolidating some components of the payments and securities settlement services; potential for one unified platform
Blanchard and others look to reconcile theory of capital flows with practice
Revamp of Mundell-Fleming model helps explain apparently contradictory results, with important implications for policy-makers looking to respond to capital flows
ECB appoints Michael Diemer as first chief services officer
The European Central Bank has created a new post of chief services officer to co-ordinate all administrative, IT and human resources issues
Kenyan and Ugandan central banks act over troubled bank
Central Bank of Kenya places Imperial Bank under new management after being notified of ‘unsafe and unsound’ conditions; Bank of Uganda moves on local subsidiary
MAS eases policy in first move since January
Singapore's central bank cuts rate at which currency is allowed to strengthen amid Asia slowdown; keeps width and centre of policy band unchanged
Eurozone policy-makers and researchers puzzled by trends in long-term inflation expectations
Eurozone inflation more strongly influenced by inflation expectations, the ECB notes; two central bank working papers say data shows unexpected changes
Ex-Albanian governor acquitted of ‘abuse of office’
Former Albanian central bank governor Ardian Fullani found innocent of ‘abuse of office’; left role in 2014 after parliamentary vote
BoE’s new MPC member grilled on financial assets
Treasury Committee questions Gertjan Vlieghe on real or perceived conflict of interest; Ian McCafferty justifies view on rate hike in reappointment hearing
Fed’s Brainard counsels patience on interest rates
Governor Lael Brainard warns there could be ‘some distance to go’ before reaching full employment in the US, and questions the impact of further labour market improvements on inflation
Swedish economists add voices to criticism of leaning against the wind
Current and former Riksbank deputy governors Martin Flodén and Lars Svensson warn against the large rate hikes necessary to address financial stability concerns
Developing country central banks cannot rush into full independence, Botswana governor says
Botswana’s central bank governor tells an IMF seminar developing country central banks need to move carefully towards independence on price stability
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
Ingves laments complexity in Basel trading book
Basel Committee chair says he would have preferred a simpler approach to market risk; work on other risks will tend towards greater simplicity, and will likely include external credit ratings
Central bankers challenge Caruana on leaning against wind
IMF panel displays broad range of views on interest rates as a financial stability tool – but none of the central bankers are willing to go as far as the BIS general manager
Bank of Japan launches updated payments platform
New BoJ-NET system goes live tomorrow, days after launch of China's CIPS platform and RMB surpasses yen as global payments currency
Fed encouraged to act as FOMC members eye new data
Stanley Fischer reveals encouragement from emerging market officials to ‘just do it’ and raise rates; Dennis Lockhart singles out importance of consumer data in coming weeks
Renminbi now fourth most-used world payment currency
The Chinese currency overtakes the yen with a share of 2.79% in global payments by value
Hong Kong authorities look to bring shadow banks into resolution regime
Plans for resolution regime are advancing, with legislation expected by the end of the year; unregulated financial institutions can still be covered by the regime
Namibia removes security feature from two banknotes
Central Bank of Namibia removes OVI diamond from N$10 and N$20 notes; hopes to reduce costs while preserving security