News
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
Mortgage modifications were key to cutting Irish NPLs
Scale of modifications was larger than previously thought, research finds
Policymakers need wider range of systemic risk models – paper
Researchers attempt to combine systemic importance and systemic risk approaches
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed
Adrian Orr to lead RBNZ in 2018
Former deputy takes over at a time when the central bank mandate is being called into question; Grant Spencer sets sights on retirement
Fed finalises new market benchmarks
Three transaction-based alternatives to US dollar Libor will launch in 2018
ECB approves major financial infrastructure programmes
ECB plans for Target2 and T2S to merge, plus new collateral management system for Eurosystem
Riksbank plans comms drive to mark 350th anniversary
The world’s oldest central bank intends to engage the public, explaining its role in the economy
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
Fed proposes sharing more information about stress tests
Proposal includes insights about how the regulator estimates hypothetical losses
Basel III changes set to create big winners and losers
Capital hit for G-Sibs ranges from 28% drop to 43% jump, quantitative impact study reveals
David Mayes: 1946–2017
The internationally minded professor was a stalwart of the central banking community
Mario Draghi confirms Basel III is complete
Governors and heads of supervision grant final approval to the amended Basel III framework, but the parties fail to agree on sovereign asset treatment
Norway’s sovereign fund acquires its first Asian real estate
Norges Bank recommended in November the fund should abandon equity investments in oil and natural gas
Brazilian policy rate at lowest level in 30 years
Copom expects inflation to fall to 2.9% this year
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
Eurozone must improve management of national cash cycles, paper argues
Researchers find wide variations between cash quality in eurozone countries
European Commission proposes creating a European Monetary Fund
The new EU institution would replace the European Stability Mechanism in 2019
BoE seeks to enhance stress-test model oversight
Prudential Regulatory Authority to enforce new stress-test model principles in 2018; smaller banks asked to tailor them to their operations
Greek governor attacks ‘politically motivated' accusations
Parliamentary audit cleared Stournaras of failing to disclose assets, Bank of Greece says