News
People: National Bank of Ukraine appoints new deputy
Heletii has served as Ukraine’s deputy finance minister since July 2018; Jamaica appoints senior deputy governor, MAS has new leader for green finance; IMF names special adviser to Kristalina Georgieva
Kenya’s central bank looks to regulate digital lenders
Legislation before government could help central bank control high lending rates on digital products
IMF research highlights limits of exchange rate flexibility
New dataset sheds light on role of dominant-currency invoicing for exchange rate dynamics
Shelton and Waller reach final stage of Fed nomination process
Both candidates received enough backing in first of two key votes, but neither escaped criticism
Lebanese central bank faces audit as crisis deepens
Inflation is spiralling and IMF talks have yet to result in a bailout package
National Bank of Georgia upgrades FX infrastructure
Move follows other financial market infrastructure reforms in recent years
EU recovery fund set to ease ECB’s burden
Common debt issuance likely to significantly reduce fragmentation risks, taming sovereign bond spreads, say analysts
New NBU governor promises to safeguard bank reforms and independence
Kyrylo Shevchenko emphasises continuity in first remarks since taking office
Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Singapore faces most severe downturn since independence – Menon
Singapore’s economic situation remains “dire” and activity will be below pre-crisis levels “for quite a while”
IMF and World Bank chiefs call for more action on debt relief
But G20 fails to agree extension to the Debt Service Suspension Initiative
Covid-19 boosts gold’s appeal among reserve managers
Central banks say gold helps replace negative-yielding sovereign bonds; equities cement position in reserve portfolios
IMF suspends country assessments until April 2021
Resumption of assessments will need to be “gradual” and undertaken flexibly, says fund
Confusion over Nigerian central bank’s exchange rate policy
Finance minister says rates will be unified while reports say real value of currency is falling
Two FOMC members back overshooting target
Brainard and Harker suggest Fed should leave rates low until inflation rises above 2% target
Bank of Greece proposes ‘bad bank’ for NPLs
Covid-19 may worsen the highest ratio of non-performing loans in the eurozone, central bank says
People: IMF names new Europe chief and secretary
BIS promotes Philip Wooldridge to head up Committee on the Global Financial System
Ukraine appoints new governor after IMF warns on independence
IMF and other donors want evidence that government is supporting central bank, insiders say
Eurozone outlook is ‘highly uncertain’, says Lagarde
ECB maintains stimulus package unchanged as lower energy prices weaken inflation
FATF will set up global network of virtual asset supervisors
Current standards are sufficient to govern stablecoin activity, report says, but risks may grow
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
Tenreyro sheds light on BoE’s ‘epi-macro’ modelling
Staff have conducted several virus simulations, but uncertainty remains high
SNB’s Jordan defends currency interventions
Switzerland had “difficult starting position” from which to tackle the Covid-19 shock, chairman says; negative rates have worked, he argues
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns