News
Top Thai regulator advises Asean neighbours to open markets slowly
Bank of Thailand regulatory policy director warns Laos and Vietnam liberalisation could cripple their banks if conducted too quickly
Malaysia deputy governor says better credit reporting crucial to Asean integration
Asean Economic Community faces challenging test of successfully integrating regional financial markets, Bank Negara's Muhammad bin Ibrahim says
Leverage ratio begins to bite for FX derivatives
The capital-intensive rule for banks, which has already affected the rates and credit world, is starting to hit FX - with clients expected to bear the brunt of higher costs
European supervisors want better data to support securitisation stress tests
‘Joint Committee’ proposes numerous disclosure requirements for securitisations, including giving investors enough information to stress test purchased products
Cœuré and Dudley question case for policy co-ordination
ECB board member says central banks can ‘free themselves’ from influence of global financial cycle; NY Fed president says Fed should focus on promoting growth and stability in US
BoE unearths new evidence on UK productivity puzzle
Latest inflation report includes new research suggesting temporary ‘compositional’ factors may be dragging on productivity growth; inflation path revised up slightly and growth down
RBNZ targets Auckland with new macro-prudential plans
Central bank wants to impose stricter macro-prudential rules on lending to property investors in Auckland; will also force banks to hold more capital against those loans from October
Finma's Branson calls for Basel leverage ratio hike
The minimum Basel leverage ratio for large banks should be higher than 3%, says Finma CEO Mark Branson, noting "the world has moved on" since it was initially set
Greece talks more positive but time running out, says Varoufakis
Finance minister says Greece and its creditors are increasingly seeing eye-to-eye, but a deal is needed in the next ‘couple of weeks’; country manages to scrape together IMF repayment
People: Sri Lanka and Paraguay name new board members
RA Jayatissa and Carlos Carballo Spalding join central bank boards in Sri Lanka and Paraguay respectively; UK firm VocaLink names new CRO
NY Fed’s McAndrews warns negative rates could drag inflation down
Director of research highlights some of the more radical unintended consequences that could stem from negative rates, including new forms of currency and inflation moving in unexpected directions
Alexandre Lamfalussy: 1929–2015
Those who knew him pay tribute to the former president of the European Monetary Institute and general manager of the Bank for International Settlements
Ugandan governor on road to recovery after falling ill
Emmanuel Tumusiime Mutebile treated in hospital after falling ill last week; now in South Africa for ‘medical review’ where central bank says he is ‘in good spirits’
Governments should work to promote ‘e-commerce’, UN report says
Research presented at the National Bank of the Republic of Macedonia outlines policies governments should pursue to harness the benefits of e-commerce
Chicago Fed research charts fall in natural rate of unemployment
Group of economists say an ageing population and rising education attainment could push the natural rate – currently at or below 5% – as low as 4.5% by 2020
Serbia cuts rate amid IMF call for action on debt overhang
National Bank of Serbia cuts rate for third straight month, as IMF warns dangers may lurk beneath robust overall debt position
PBoC cuts interest rates for third time since November
Central bank also lifts cap on deposit rates; moves will do little to stimulate growth amid property glut, analysts predict
Regulators to put CCP risks under microscope
CPMI-Iosco stress-testing quiz will be precursor for broader review of risk management practices
BIS research posits test for unsustainable credit growth
Authors link long-run credit growth with leverage and debt service ratio, proposing a model they claim would have helped predict the 2008 financial crisis three years before it struck
Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies
Jobs data recovers in the US as Dudley looks to help small businesses thrive
Non-farm payroll employment increases by 223,000 in April after a difficult March; NY Fed president considers how small businesses can access credit and expand
Malta names Alfred Mifsud as deputy governor
Former chairman of Crystal Finance Investments joins the central bank as a deputy governor; he will ‘primarily’ focus on monetary policy during his five-year term
Hong Kong 'coin carts' rake in cash
Hong Kong Monetary Authority trucks will collect coins from the public; so far, 87,000 people have traded in 78 million coins worth HK$77 million
Riksbank paper warns forecasts often overestimate inflation
Forecasting error has grown in recent years and tends to overstate inflation, paper says, even as first deputy governor says expansionary policy has contributed to rising inflation