News
Former BoE economist proposes new regulatory approach
Panellists discuss whether post-crisis regulation has gone too far, asking whether banks need the extra capital
Nigerian central bank governor named in ‘Paradise Papers’
Emefiele’s lawyers say commercial bank failed to carry out governor’s instructions to end stake
German central bank in Nazi era will be ‘special focus’ of independent study
Bundesbank funds research into twentieth century German central banks
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says
AI adoption lag could explain productivity shortfall – research
Erik Brynjolfsson, Daniel Rock and Chad Syverson argue the productivity slowdown is not as surprising as it may seem, and there are reasons to be hopeful
Philippine banks face tougher cyber rules
The Central Bank of the Philippines wants more complex banks to implement a round-the-clock “security operations centre”
ECB defends Draghi’s membership of G30 to EU watchdog
ECB praises chance for “dynamic debate” and rejects NGO’s claim of lack of transparency
New York Fed’s Dudley set to retire early
William Dudley says he wants to ensure a successor is in place “well before” the end of his term
PBoC’s Zhou warns of ‘sudden’ contagion risks
Governor continues with tough line on financial imbalances as he prepares to hand the reins to an as-yet-unnamed successor
Central Bank of Barbados governor ‘concerned’ about level of reserves
Barbados central bank tweaks securities requirement ratio amid foreign exchange shortage; less than 10 weeks of import coverage remain
People: Powell and Yellen comment on Fed chair pick; FPC member appointed
Nominee as Fed chair praises predecessors; UK’s FPC has new external member; and more
High debt threatens financial stability in Norway, central bank says
Household debt ratios and rising property prices are the two main vulnerabilities for the system
‘Black box’ AI could pose macro risks – FSB
Rise of artificial intelligence in finance may promote efficiency, but it can be hard to tell where the dangers lie, report finds
MPs clash with UK chancellor over diversity in central bank
Chair of parliamentary group says she is not convinced “all efforts” are being made to tackle gender unbalance
Trump nominates Jerome Powell as Fed chair
As a Fed governor, Powell has never issued votes of dissent against FOMC decisions
Supervisors must co-ordinate on ‘significant-plus’ branches – EBA
Guidelines set out advice for handling branches with “critical” functions
Venezuela launches new higher-denomination banknote
Banknote worth $2.50 enters circulation as estimated inflation exceeds 2,500%
Bank of England pulls trigger on rate hike
Committee split 7-2, but Carney strikes hawkish note on need for further hikes
MAS bans individuals involved in 1MDB scandal
Six people involved in 1MDB-related breaches have been issued prohibition orders by MAS, with two more facing potential future bans
SNB profits hit record high
Swiss franc’s depreciation and high stock prices fuel the rise in revenues in the first three quarters
US senators chase regulators on Treasury market reform
Crapo and Warner push regulators to ensure reforms to improve transparency are still in the pipeline; gaps in data remain a concern
ECB may change composition of QE, researchers say
Lower levels of sovereign bond acquisitions may allow the central bank to extend stimulus into 2019
BoE’s Woods: 75,000 Brexit job losses ‘plausible’
Deputy governor estimates 10,000 finance job losses on first day of Brexit, with wider long-term repercussions
Banks will continue to gamble with public money, says Gordon Brown
Former UK prime minster says lax punishment of banks has left risky culture intact; “inevitable” rogue bankers will continue to gamble with public money