News
Tighter mortgage lending rules proposed in New Zealand
Central bank looks to crack down on investor lending with high loan-to-value ratios, while tightening the rules for most loans to owner-occupiers; new tools also on the table
EBA proposes new templates for AT1 issues
EBA releases draft templates for future issuance of Additional Tier 1 capital instruments, highlighting provisions it ‘would recommend avoiding’
Turkish central bank steps in to calm markets in wake of coup attempt
Central bank promises banks unlimited liquidity as failed coup sends shockwaves through markets; economists say banking sector is holding up so far but has some vulnerabilities
People: Uzbekistan appoints new deputy; Ahmed retiring from IMF
Shohruh Shoahmedov promoted to deputy chairman; IMF’s Masood Ahmed announces retirement; BoE’s Paul Fisher to chair London Bullion Market Association
Bank of Israel opens payment protocol to smaller players
Central bank removes obstacle to new firms looking to enter payments market; also working on ‘payment systems directive’ based on European model and new access standards
Rajan sees bright future on inclusion but stresses work to be done
Outgoing governor of the Reserve Bank of India discusses different approaches open to policy-makers and some common challenges; unified payment interface effective in a ‘few weeks’
Indian central bank sets up fintech working group
Inter-agency working group will report on financial technology within six months of first meeting to enable Indian authorities to review regulation of sector
Payments forum moots ‘layered’ architecture in UK
New layered strategy would help improve agility of payments infrastructure, consultation suggests; trade association says changes will need to be implemented in line with regulation
EBA says European banking supervision practices are converging but some areas lag
European banking supervisors achieved considerable cross-border convergence in some areas in 2015, but other fields retain differences, EBA report says
East African governors praised for balancing act
Central bank heads in region have “done extremely well”, Kaberuka says; panellists at Bank of Uganda event debate central bank mandates and role in development
Shirai urges BoJ to change course
Former policy board member says the Bank of Japan’s current policies are not sustainable, recommending a rethink of policy mix and communication strategy
Bank of Canada sees ‘modest effect’ from Brexit
Canadian and US central bankers size up cost of UK’s vote to leave the EU; Carolyn Wilkins and Patrick Harker do not see large impact on growth from direct trade effects
Slovenian finance minister criticises police raid on central bank before resigning
Slovenian finance minister describes police raid on central bank on July 12 as an "attack" then resigns on July 13 citing personal reasons; central bank also criticises action
Research explores lifting fingerprints from polymer notes
Team of scientists trial technique to ‘lift’ fingerprint from polymer surface; stress suitability of elemental copper for use in forensic examinations
BoE holds but MPC expects August easing
Pound appreciates as monetary policy committee votes 8:1 to leave rates at 0.5%; "most" committee members expect monetary stimulus in August
Bank of Tokyo abandons JGB primary dealer role
Bank of Tokyo-Mitsubishi UFJ steps back from role citing “business optimisation”, in the latest sign the Bank of Japan’s policy is putting the squeeze on bank profits
Dombret sees no need for ECB response to UK vote
Deutsche Bundesbank’s Andreas Dombret says it is not clear to what extent further easing would boost economy; warns against deeper European integration at any cost
Bangladesh has more FX reserves than it needs, chief economist says
Biru Paksha Paul says Bangladesh only needs enough reserve to cover six months’ worth of imports, and it has now exceeded that; sees benefits from low fuel prices in recent years
Argentine central bank holds rate on its bonds with eye on inflation
Reference rate held at 30.25% ahead of second inflation figure release; second monthly statistic from Indec due today, no official annual figure yet
IMF executive board calls for greater gender equality among directors
Fund executive board encourages members to consider gender diversity when nominating directors, while encouraging female candidates to seek positions
CPMI digs into data on correspondent banking pull-back
Study based on Swift data and banking interviews sheds light on uneven pace of decline in correspondent banking; CPMI offers recommendations to help reverse direction of travel
Norges Bank questions contingency plans for cash distribution
Report warns Norwegian banks’ back-up plans “may prove inadequate” in a crisis; both the central bank and financial supervisory authority in communication with the finance ministry
Slovenian central bank says governor will not resign
Slovenian prosecutor-general rejects complaint by Draghi into police search of central bank offices, saying relevant magistrate acted within his powers
Swift brings in external firms to support security work
UK firm BAE Systems and Dutch company Fox-IT will be part of effort to strengthen cyber security; Swift says information-sharing initiative has “grown significantly” since launch