News
Draghi distinguishes ECB forward guidance from Fed and BoE variants
ECB president compares forward guidance across major central banks; channels John Maynard Keynes and warns that ‘without reform, there can be no recovery’
People: William English switches Fed roles; Argentina central bank adds new senior staff
William English will step down as director of the Fed board’s division of monetary affairs, but will remain as adviser; Central Bank of Argentina gets new director and general manager
Fed minutes reveal growing rifts over forward guidance
Minutes show increased debate over whether forward guidance is being used correctly; two dissenters object to phrasing of policy statement
Portuguese governor calls for powers to act ‘just in time’
Carlos Costa argues that legislative changes are necessary to give national supervisors greater agility when it comes to intervening in failing banks
SNB speaks out against 'gold initiative'
Swiss National Bank rejects proposals to prevent it from selling gold; Jean-Pierre Danthine argues that ‘currency reserves that cannot be sold are not truly reserves’
People: RBI names three new executive directors; Former vice-governor returns to Bank of Portugal
Reserve Bank of India promotes three new executive directors and reshuffles portfolios; João Costa Pinto rejoins Bank of Portugal; Rafi Melnick departs Bank of Israel
New York Fed’s Potter fleshes out normalisation plans
Vice-president responsible for open market operations gives details on how the Fed will use interest on excess reserves and reverse repos to raise its interest rate
Former Argentine governor under federal investigation
Juan Carlos Fábrega is under investigation from a federal prosecutor, accused of corruption and connections in the black market
Bank of Russia sells $1.4 billion to prop up ruble
Central bank intervenes in foreign exchange market to support currency as it continues to slide against the US dollar; commentators split over prospect of rate hike
IMF calls for ‘modified pari passu clauses’ in new international sovereign bonds
Executive board supports contractual reforms making process of sovereign debt restructuring ‘more orderly’; Staff paper outlines stronger collective action clauses
Ekholm leaves Riksbank for post in finance ministry
Dovish deputy quits her term early to become state secretary to Sweden's new finance minister; vocal critic of central bank's ‘lean against the wind' policy
Basel Committee finds banks’ op risk frameworks lacking
Review finds systemically important banks have made ‘insufficient progress’ in implementing op risk principles; Committee outlines recalibrated versions of its op risk capital models
Central Bank of Ireland proposes lending restrictions
Irish central bank proposes three ‘speed limits’ on banks’ mortgage lending, as it looks to create a ‘stable and well-functioning’ market
Rates: BoJ maintains pace of asset purchases; RBA holds steady
Bank of Japan continues pace of asset programme despite some dissenters; RBA holds rates with growth persisting below target and signs of spare capacity
IMF's Blanchard warns macro-prudential tools ‘may not be up to the task'
Chief economist outlines benefits of debt-financed infrastructure projects in the eurozone at opening of IMF and World Bank annual meeting
Bank of Lithuania invests $100 million into Chinese capital markets
Central bank becomes one of the first in Europe to invest in Chinese securities, as part of a new investment policy seeking higher returns
BoE unveils draft rules for ring-fencing UK banks
Prudential regulator issues consultation on rules relating to legal structure, governance and maintaining core operations; Andrew Tyrie welcomes structural recommendations
Swift resists ‘political pressure' to disconnect Russian and Israeli banks
Brussels-based cooperative says calls for exclusion undermines ‘systemic global character' of its services; previously condemned EU parliament resolution in September
Kganyago picked to succeed Marcus as Sarb governor
Deputy governor Lesetja Kganyago says he ‘will not disappoint’ as next Sarb governor; Gill Marcus says the appointment ‘reflects the depth of talent and skill’ in the central bank
Bank of Portugal intensifies central bank cooperation programme
The Bank of Portugal completed 105 projects by September this year; the majority of which were conducted with central banks from other Portuguese-speaking countries
People: Swedish first deputy joins Danish FSA board; Bank of Russia names national payments head
Kerstin af Jochnick is handed a two-year term on the Danish FSA board; Bank of Russia appoints Alla Bakina to lead national payments department; Iosco chair re-appointed
Central bank independence key focus of Brazilian elections
With the central bank’s autonomy a hot topic in the build-up to this weekend’s presidential elections, specialists are divided on the benefits of greater independence
Lagarde sees black clouds over monetary policy normalisation
IMF managing director underlines risk of spillover effects as Fed winds down monetary easing; says ‘asynchronous’ normalisation could come back to bite advanced economies
Central Bank of Nigeria implements ‘sanctions screening' service to combat financial crime
Swift service helping banks meet global best practices on financial crime will be functional in January; step towards realising 2020 ‘payment system vision'