News
Kocherlakota: Fed should talk openly about negative rates
Former Minneapolis Fed president says central bank should talk about its policy options in a recession ahead of time, to avoid sending a bad signal if they have to be used
Czech National Bank to launch second supervision department
Consumer protection and ‘retail distribution’ supervision to be moved under a new department dedicated to supervision, the second of its kind; Ladislav Kročák to become executive director
Rajan sidesteps question on RBI future
Reserve Bank of India governor says decision on second term will be reached after discussion with government; RBI holds policy rate at 6.5% after inflation surprise
Hungarian governor launches lawsuit against politician
Hungary's governor launches defamation lawsuit against Socialist law-maker over alleged accusations of misuse of central bank funds by foundations
Sri Lankan central bank defends governor expenses
Central bank incurs around $663,000 in travel expenses in 2015 as governor and central bank staff attend a number of international financial meetings
Yellen upbeat but concerned by weak jobs data
Janet Yellen expects continued progress to Fed’s objectives; says latest labour market report is “concerning” but warns against reading too much into it
European Supervisory Authorities launch joint website
Joint committee of three European Supervisory Authorities launches website; European Commission proposes extending remit to three more countries from within the EEA
MAS prepares ‘sandbox’ for fintech testing
Aim is to test potentially unstable innovations in an environment where consumers and financial stability will largely be shielded from the consequences of failure
Iceland expands policy framework with capital flow tool
Central bank embraces idea of monetary policy dilemma, not trilemma, imposing reserve requirements on certain types of capital flows into the economy
Cambodian central bank says $8 million grant will boost retail payments
National Bank of Cambodia announces grant from South Korean government to help develop payments infrastructure; hoping to discourage cash usage and support inclusion
US jobs report puts Fed hike expectations on ice
Small increase in non-farm payrolls leads market to all but write off prospect of a rate hike later this month; Lael Brainard and Eric Rosengren keen to see more data
Nigerian central bank disburses $600m to power sector in 15 months
Nigeria central bank aid to the country’s electricity sector supplied in the form of loans and grants
Helicopter money still contentious as Borio enters debate
Article by Claudio Borio and others claims helicopter money means giving up on monetary policy for ever, but economists such as Adair Turner and John Muellbauer question the result
Algeria’s longest serving governor dismissed
President dismisses Laksaci after 15 years of service at central bank; head of state-run Banque Extérieure d'Algérie Mohamed Loukal to take helm
Gaps in banking and AML laws need urgent attention, Philippine deputy says
In the wake of the Bangladesh hacking scandal, the Central Bank of the Philippines wants to improve the legal framework underpinning the banking sector
Draghi policy announcement notable for its absences
ECB president announces slight upward revision in ECB's eurozone growth and inflation predictions, but does not unveil any new financing policies for Greece
Bank of England banknote first in the world to feature new foil technology
BoE launches new fiver with ‘Kinegram Colors’ technology taking centre stage; new note to enter circulation in September
Hungarian central bank plans offices in New York, Buenos Aires and Beirut
Hungarian central bank formally opens Paris office; bank also runs Hamburg and Rome offices and plans to open more in New York, Buenos Aires and Beirut
Ukraine donates $49,000 of medical equipment to Ministry of Defence
Equipment goes to five military hospitals in the provinces; national bank announces voluntary liquidation of two commercial banks
Sato hits out at BoJ's negative rates
Board member warns negative rates in Japan may lead to tighter conditions and financial instability, as prime minister delays tax hike in face of deflation risk
Lautenschläger floats idea of two-tier capital regulation for eurozone banks
Capital positions for large eurozone banks could be split into "requirement" and "guidance" levels, Sabine Lautenschläger says
Central bankers recognise technology as both friend and foe
Speakers at BIS conference see technology reshaping markets and regulation for better and worse, as Andrew Lo argues solution is to make the technology cope better with human “foibles”
Esma criticises European Commission plans for regulating NFCs
“Significant drawbacks” present in European Commission’s proposed approach to regulating non-financial corporations’ derivatives transactions, European Securities and Markets Authority argues
Belize governor worried about threat posed by ‘de-risking’
Regulators not fully taking note of uncertainty around regulation implementation; Caribbean region growth and financial stability “threatened” by pullback of global banks, governor says