News
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
TCH launches real-time payment platform in US
Firm launches US’s first real-time payment system, cutting transaction times from days to seconds
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
ECB article warns of possible effects of a Chinese slowdown
Looser Chinese monetary policy in response to problems could have significant effect
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices
People: Deputies appointed in Hong Kong and Oman
HKMA picks deputy chief executive and new director; Oman appoints vice-president; Central Bank of Kenya has new comms chief
Disorderly Brexit is possible, warns senior Bundesbank official
Dombret hopes for supervisory co-operation, but tells banks to prepare for “no deal”
RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
Bernanke, Geithner and Paulson to conduct forensic analysis of 2008 crisis
Protagonists of US crisis response to lead research into detailed design choices behind the main measures taken
Softened liquidity rule would still be misguided – US asset managers
The Treasury proposals are welcome, firms say, but a watered-down SEC rule would leave risks unaddressed
Stifling cross-border banking hurts developing countries – World Bank
World Bank offers advice on successful cross-border banking but warns developing countries against over-reliance
ECB’s Nouy urges banks to complete Brexit plans
Almost 50 banks have approached supervisor to assess their options
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
No reason why central banks cannot be privatised, economists argue
Central banks may be better equipped to sustain market stability if privately owned, argues Juan Castañeda, with the private sector bailing out failed banks
Fed’s Quarles wants more transparent and simple financial supervision
Vice-chairman stresses importance of clearly conveying objectives of regulation and supervision
Supervision bolsters monetary policy transmission – Draghi
No sign of housing bubble developing across eurozone as a whole, ECB president says
German economic council urges ECB to tighten policy
Group of experts says stronger growth and loose policy could lead to higher financial risk
NBK intervenes as Kazakh banking troubles spread
Central bank moves in to rescue one bank and triggers liquidation of another