News
Draghi defends TLTRO allocation of €82.6 billion
ECB president tells Econ Committee last week’s targeted LTRO ‘within the range of take-up values’ he expected; outlines shift to ‘more active’ management of balance sheet
Philadelphia Fed president Charles Plosser to retire
Vocal critic of unconventional monetary policies to leave FOMC in March 2015; Yellen says she will miss ‘keen insights, deep analysis and good humour'
Carney hints at coming shift in FSB focus
Mark Carney says Financial Stability Board will need to shift its focus towards ‘evolving’ threats such as shadow banking; ending too-big-to-fail high on the agenda for Brisbane G-20 summit
Argentinian government will use 42% of central bank’s dollar reserves in 2015
The Central Bank of Argentina will lose $11.9 billion of its international reserves in 2015. In exchange, they will receive bonds with an amortisation period of 10 years
Julio Suárez appointed next Bank of Guatemala president
Vice-president has been appointed to lead the central bank by the Guatemalan government, and will take office on October 1
PBoC signs $1.63bn swap deal with Central Bank of Sri Lanka
Three-year arrangement between Chinese and Sri Lankan central banks follows deal in August allowing the latter to invest in China's interbank bond market
Debit card fraud losses rise 13.1% in two years in the US, report shows
Fraud losses associated with debit card transactions in the US rose to $1.57 billion in 2013, according to a Fed report, but the amount lost per transaction was relatively stable
FOMC's Lacker denounces committee's new normalisation principles
Richmond Fed president says FOMC expectation not to sell MBS as part of balance sheet reduction flies in the face of half-a-century's worth of Fed practice
Central Banking poll finds tepid response to EU stress tests
Some 60% of respondents to Central Banking poll say the EU stress tests are ‘not stringent enough’; ECB will release results for eurozone banks along with AQR findings next month
People: BoE legal adviser to retire in April 2015; Banque de France appoints new deputy director
BoE loses chief legal adviser next year; Banque de France promotes its director of risk operations; Czech National Bank names new deputy director; and more
Sarb governor Gill Marcus to step down
Governor of South African Reserve Bank will leave when her term expires in November; move came as a surprise to many market watchers
FOMC to raise rates before shrinking balance sheet
Federal Reserve unveils principles for policy ‘normalisation' as members' calls for rate hike grow louder; normalisation not necessarily expected to 'begin soon'
ECB releases rotation schedule for voting governors
New voting rotation system sees Spanish, Irish, Greek and Estonian governors sit out first decision in January; ECB allots €82.6 billion to 255 banks in first targeted LTRO
Barnier hints at longer pensions clearing exemption for OTC derivatives
The EC's outgoing head of internal markets, Michel Barnier, has hinted the Commission will extend a pension funds derivatives clearing exemption beyond 2015
Mortgage credit subsidies 'disastrous for the poor'
Credit subsidies a ‘short-sighted palliative for addressing economic inequality', argue leading academics in Central Banking Journal article
Brazil’s central bank staff complete second day of strike
‘Technical’ workers are seeking greater recognition as more roles are taken by ‘analysts’ that earn higher salaries; central bank says protests have not affected its core activities
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
FSB estimates of Chinese shadow banking fall short of target, IMF representatives suggest
FSB's ‘filtering out' of parts of the non-bank financial system in China paints incomplete picture, IMF Asia division chief and HK representative say
‘Flower power’ drives new Dominican Republic banknote series
The Dominican Republic is issuing upgraded banknotes to include the country’s new national flower; Israel and eurozone also introducing new notes in the market
Bank of Russia to complete shift to inflation targeting regime by 2015
Geopolitical tensions, increased food costs and financial market turmoil will not deter central bank from pursuing 4% inflation target that is to be phased in next year
Prosecutors drop investigation into controversial comments by National Bank of Poland governor
Marek Belka did not break the law when calling for finance minister's removal in leaked recording
PBoC designates renminbi clearing banks for France and Luxembourg
Bank of China and Industrial and Commercial Bank of China to serve countries' offshore RMB markets
Palestine Monetary Authority launches new clearing system
Automated clearing system developed in Palestime with technical assistance from the World Bank and Bank of Italy; part of PMA’s wider plans to upgrade retail payment infrastructure
Shift towards 'commercial' and 'political' central bank communication set to continue
Central banks to continue mimicking commercial and political entities in their communications despite reputational costs; more resources will be dedicated to social media use, says Niels Bünemann