News
Central Bank of Kenya creates lending facility in wake of banking troubles
Emergency liquidity offered to any bank under pressure “from no fault of its own”, as fears mount over the resilience of Kenya's banking sector
New Zealand launches remaining banknotes in new series
Final three denominations will circulate from May 16; central bank creates interactive website allowing users to manipulate new notes and get acquainted with security and design features
BoE searches for better data on macro-financial links
As part of efforts to crack the UK’s productivity puzzle, the BoE plans improved data-gathering, seeking insight into the impact of capital accumulation and access to finance
Romanian central banker warns of risk from ‘unwarranted’ loan law
Romania deputy governor warns of risks posed by legislative initiatives on debt settlements passed by the country’s parliament
Cyprus amends anti-money laundering regulation
Central Bank of Cyprus has amended its anti-money laundering directives, requiring banks to take extra measures to verify their customers’ identities; focus on accounts opened by third parties
Sam Woods to replace Bailey as PRA chief
Bank of England executive director promoted, to take over from Andrew Bailey when he moves to the Financial Conduct Authority
Communist party official and former deputy nominated as Vietnam governor
New prime minister nominates Le Minh Hung shortly after inauguration; national assembly relieves former governor with 87% voting in favour
Summers: Fed is not ready for next crisis
Secular stagnation has left Federal Reserve short on firepower as the next recession looms, economist says; urges greater willingness to risk inflation overshoot and action by fiscal authorities
IMF staff raise concerns over Nigeria’s FX regime
Report voices worries about unintended consequences of FX restrictions, calling for more flexibility in exchange rate; Nigeria's authorities insist measures are temporary
Praet says ECB policy is working
Analysis shows that eurozone finances would be considerably tighter without ECB’s unconventional monetary policy, executive board member says
Central Bank of Kenya places third bank in receivership
Chase Bank under new management after resignation of chairman and managing director; Imperial Bank progress “postponed” while audit continues
Iosco considers response to ‘growing threat’ of cyber risk
Securities firms and regulators are at an early stage in responding to cyber threats, report finds, but examples of good practice are starting to emerge
ECB voices concerns over Hungarian National Bank
ECB expresses concern over recent actions by Hungary’s central bank, including purchase of art, land and Budapest stock exchange; says foundation money must not be used for state financing
BIS’s Shin argues bank capital underpins both monetary policy and financial stability
Research sheds light on tension between bank shareholders and wider society, as high levels of capital support lending and therefore affect the real economy as well as the financial sector
Senior deputy plays down Indonesia’s external debt burden
Mirza Adityaswara says debt burden safer than it looks; defends mandate requiring domestic deals be made in rupiah and admits loan rates "probably too high" at Hong Kong conference
Ingves raises fundamental questions about central banking
Riksbank governor sets out questions around monetary policy and macro-prudential framework in Sweden, raising the prospect of a merger with the FSA and joining the SSM
People: Shirai begins new chapter at Keio University; Sibley named as Irish director of credit institutions
After five years on the BoJ policy board, Shirai returns to academia; Ireland central bank names new director of credit institutions; and more
RBA establishes new macro modelling division
External review recommends new approach to “full-system” models at heart of policy analysis, warning modelling expertise is limited at the central bank
Swiss National Bank bolsters security features of first banknote in new series
The new series printed on three-layered substrate boasts a range of new security features; Sfr50 enters circulation on April 12
Ghanaian deputy becomes new governor
One of two deputy governors of the Bank of Ghana takes over top role; Abdul-Nashiru Issahaku joined bank in July 2013 after working for several international agencies
Investors to sue Portuguese central bank over asset writedown
A group of bondholders in a failed bank are bringing a lawsuit against the Portuguese central bank over its writedown of their holdings in a failed commercial bank
People: Bank of Estonia reappoints deputies; Lagarde wants to reappoint IMF first deputy
Bank of Estonia hands new terms to Ülo Kaasik and Madis Müller; David Lipton in line for reappointment at IMF; Graeme Wheeler to head up BIS Asian Consultative Council; and more
Seychelles central bank will chair new financial stability committee
Advisory body will comprise representatives from four different public bodies and meet on a quarterly basis; supported by new financial stability unit within central bank
Reserve Bank of India modifies liquidity framework
Rajan spells out plans to “progressively lower” the liquidity deficit in the banking system as part of a broader shift in focus; RBI cuts policy rate by 25bp with inflation on track