News
Bank of Spain administrators file for Banco de Madrid bankruptcy
Spanish central bank announced today Banco de Madrid has filed for bankruptcy after a large withdrawal of funds ‘affected its ability to meet its obligations in a timely manner’
Iceland expects ‘significant’ progress in lifting capital controls this year
Healthy economy and sturdy banking system pave way for lifting of capital controls, but risks are 'tilted to the downside', IMF report says; central bank at a ‘difficult juncture’
Bank Negara Malaysia expands MPC
Two external members, Yeah Kim Leng and Noor Azlan Ghazali, to join policy committee for first time on April 1, taking total number of members from eight to 10
IMF staff want ‘clear mandate’ for next Bulgarian governor
Statement at close of latest Article IV with Bulgaria outlines policies for restoring supervisory credibility in the wake of the failure of the country’s fourth-largest bank
Bank of Latvia establishes first overnight clearing cycle
New cycle will accelerate processing of retail payments submitted late in the day and comes with an upgrade to business continuity that should see fewer payments rejected
Standard stress tests could create more risk, CCPs warn
CPMI and Iosco aim to develop a standard stress test for CCPs, but market participants say the devil will be in the detail
Nalm Europe: Markets may be struggling to digest news, warns BoE’s Salmon
Liquidity droughts and high volatility seem to be increasingly common – not necessarily problems in themselves, but the threat of contagion is becoming a concern, BoE markets director says
Security at Bank of Albania improved in wake of theft
Governor Gent Sejko insists security at the central bank is ‘at the right levels’ following the $5.2 million theft from its vaults last year; calls for vigilance from staff members
Central Banking awards 2015: photo gallery
Jacques de Larosière was the 'guest of honour' at the Central Banking awards, which saw Raghuram Rajan, Reserve Bank of New Zealand, Sarb, Czech National Bank and Bank of Canada taking top honours
Zeti argues ringgit is ‘undervalued’ but rules out dollar peg
Bank of Negara Malaysia governor rules out pegging the ringgit to the dollar, but revealed she considers the currency to be ‘significantly undervalued’
Nalm Europe: Scope for improved risk modelling, says RBNZ’s Bascand
Central bank has already gone some way towards revamping its financial management but there is ‘scope to improve further’, deputy governor tells Central Banking conference in London
BoE agents shift perspective towards shadow banking
Role of central bank agents shifts towards financial stability and brings particular benefits in tracking the rise of non-bank finance, shows BoE quarterly bulletin
Won at 20-month low following record BoK rate cut
Korean central bank cuts benchmark interest rate to 1.75%, an all-time low, amid slowing growth and inflation; euro weakness 'a consideration' posits analyst
Kenyans invited to apply for central bank governor job
Next Central Bank of Kenya governor to be chosen by president after advert for job published yesterday, inviting Kenyans to apply for role
Brazilian deputy picked as BIS deputy general manager
Luiz Awazu Pereira da Silva to join the BIS as deputy general manager when Hervé Hannoun retires later this year
Bank of Mexico expands dollar sales to stabilise peso
Mexico’s central bank is slowing the pace of reserve accumulation to fund $52 million daily auctions for the next three months, after the peso hit an historic low
Bank of Spain takes over unit of Andorran bank facing US probe
Bank of Spain appoints two administrators to Banco de Madrid, after Andorran parent company named as ‘primary money laundering concern’ by US authority
ESRB group wants treatment of sovereign debt reviewed
Report published by European Systemic Risk Board argues sovereign debt can no longer treated as risk-free, and outlines different ways the regulatory framework could be adapted
Weakest economic data in years puts pressure on PBoC
Chinese rate cuts ‘imminent' as some of the worst figures since the financial crisis indicate economic slowdown is sharper than predicted, analysts say
Turkey intervenes in FX markets as lira slide continues
Central bank caught between shrill government rhetoric and jumpy markets, cutting FX deposit rates and launching liquidity operations in an attempt to halt the sliding lira
Carney: some shocks might warrant lower inflation target
BoE governor says persistent supply shock could justify a change in the inflation target, but stresses this is a ‘pure hypothetical’; optimistic over long-term picture for productivity
Brazil’s central bank launches financial education website
The Central Bank of Brazil wants to ‘get closer to the population’, thus launching a new website with contents, videos and online courses on financial education
MAS and Esma ink cross-border CCP clearing deal
MoU paves way for Singapore CCPs providing clearing services to European banks to obtain EU recognition while remaining subject only to MAS regulatory regime
IMF sees deflation threat to Western Balkan recovery
Special report on economic transition in Western Balkans identifies deflation spilling over from eurozone as risk to recovery in the region; most of the countries experiencing negative inflation