News
ECB’s Godeffroy sees clear path to 2015 T2S launch
Director-general leading Target 2 Securities project says testing is largely going to plan; platform to create ‘survival of the fittest’ environment for European CSDs
Danièle Nouy says banks are ready to lend on eve of SSM
SSM supervisory board chair says banks are ready to lend and flow of credit to real economy now depends on ‘other actors’; first wave of ECB staff migrate to new premises
Caruana sees role for BIS in ‘digital financial inclusion’
Standard-setting bodies need to work together to maximise benefits of new technology, and the BIS provides an excellent forum, Caruana says; RBI board member offers lessons from India
Asian central banks build ‘brick house’ to withstand ‘big bad wolves’
Tetangco sets out plan to insulate Philippines against global market volatility; Thailand's Prasarn warns macro-prudential measures are ‘reaching their limits’
HKMA revamps RMB liquidity operations to cope with 'phenomenal' growth in demand
Central bank to provide new intraday facility to cover rapid growth of renminbi payments in past year; seven banks designated ‘primary liquidity providers’
Dutch central bank adopts new supervisory structure
The Netherlands Bank is creating four new divisions as part of its response to the SSM launching this week; Femke de Vries has been appointed secretary-director as part of reshuffle
Bank of England proposes three-pronged leverage ratio
Financial Policy Committee recommends ‘supplementary leverage ratios' for UK's biggest banks and wants power to set them from 2016
Central Bank of Argentina borrows $814m through China swap line
Argentina’s central bank has activated is currency swap agreement with China, and will receive the equivalent of $814 million in a move that will boost its currency reserves
Basel Committee adds final plank to Basel III
Committee unveils final version of the net stable funding ratio, bringing to a close the core of the Basel III standard-setting process
Bank of Russia hikes interest rates to stem ruble sell-off
Central bank raises key rate by 150bp to highest level since 2009 as currency reaches record low against dollar; spent $3bn propping up ruble on October 29
Split BoJ shocks markets with extra stimulus
Divided board narrowly votes in favour of a substantial boost to asset purchases; analysts note uncanny timing with government pension fund’s plan to add risk
Sarb’s Marais hails 'smooth rollout' of onshore renminbi programme
South African Reserve Bank trading government bonds, T-bills and bank bonds; deputy head of reserves hails support from PBoC on operational aspects of trading
Bulgaria hits back at EBA deposit insurance demands
Bulgarian National Bank says Bulgarian law does not give it the power to comply with EBA demands to release deposits at failed backs; EBA chair criticises apparent deceleration in process
ECB enlists asset managers to carry out ABS programme
Deutsche Bank and State Street among private sector actors that will help spur credit creation in eurozone following ‘competitive' tender procedure; no fees disclosed
FSB spotlight catches assets moving into the shadows
Shadow bank monitoring exercise shows assets stable inside the traditional banking sector but growing outside, as FSB publishes breakdown of data by jurisdiction for the first time
Central Bank of Brazil hikes rates following knife-edge election
Split MPC raises Selic rate to 11.25% in surprise decision amid ‘less favourable' inflation outlook; ‘sign inflation may be given greater priority' by re-elected government, analyst says
Uganda eyes short-term foreign liabilities as reserves measure
Deputy governor Louis Kasekende says Bank of Uganda has begun to track reserves levels against short-term foreign liabilities such as portfolio outflows; details how QE has hit reserves income
Trinidad and Tobago SWF set to gain corporate status
Incorporation will enable Heritage and Stabilisation Fund to hire staff and build capacity, says chairman Ralph Henry; ‘decent’ returns this year, he says
Fed wraps up asset purchase programme
US central bank brings era-defining policy to an end in unceremonious manner; Minneapolis Fed's Kocherlakota votes against decision
Ex-HKMA chief: China may punish Hong Kong for protests
Joseph Yam warns Hong Kong might be sidelined as a financial centre if protests continue, as Occupy Central movement enters its second month on the streets of Hong Kong
Argentinian MP tries to block new central bank governor
Leader of Argentinian opposition party files request to stop appointment of new central bank governor, saying he is ill-suited for the role and will be a ‘tool’ of the government
FSB warns of spillovers from new bank structures
Regulators in other jurisdictions fear potential knock-on impact from Liikanen, Vickers and Volcker reforms to bank structure
Norway SWF suffers weakest quarter in two years
Government Pension Fund Global returns 0.1% in third quarter following losses on European stocks; acquired several properties in EU and US
European Commission approves Portuguese institution designed to finance SMEs
New development bank to finance SMEs until 2020, at which point the Commission will assess how the market has evolved; will have starting capital of €100 million