News
ECB appoints supervisory heavyweights to new review board
Governing council appoints five members to board, tasked with conducting reviews into ECB’s supervisory actions, including former central bankers from France, Germany, Italy and Spain
De La Rue ‘preferred bidder' for next Bank of England printing deal
UK printer expected to sign contract with central bank next month and start producing new notes in April; BoE hired Innovia Security to supply polymer substrate in March
Uzbek central bank launches mobile app to meet ‘growing needs’ of online audience
Users can view specimens of banknotes and coins and check the latest exchange rates; central bank expects it to be ‘popular’ among 3,000 people who visit website each day
Higher capital requirements lead to lower lending, study by Calomiris finds
Paper published today by the Bank of England finds ‘little evidence of interaction' between monetary policy and capital requirements; studies their impact on bank lending
Timor-Leste central bank green lights mobile money pilot
Initiative will allow users to execute payments, transfers and withdrawals through mobile phones, and follows the introduction of a ‘master plan’ for financial sector development
MAS seeks to widen retail access to Singapore bond market
Singapore’s central bank proposes a host of regulatory changes to ‘make it easier’ for retail investors to buy corporate bonds
Bank of England sets out rules for foreign bank branches
Branches lacking credible resolution plans could have their licences revoked, bank warns; insurance executive joins Prudential Regulation Authority board
Argentina’s central bank lowers cap on commercial bank dollar holdings
The objective is to improve the ‘market conditions’ of the economy, says a central bank official, but Steve Hanke argues it is a measure to prevent the dollarisation of the country
Final liquidity rules issued for biggest US banks
‘More stringent' liquidity coverage ratio will come into effect in January 2017; Fed adopts final rule on supplementary leverage ratio, asks for input on swap margin rules
ECB cuts rates and launches asset purchases
Central bank cuts refinance rate to 0.05% and deposit rate to -0.2%; Draghi unveils plans to buy asset-backed securities and covered bonds
People: Bundesbank names head of research centre; Kyrgyz sheds two advisers
Bundesbank poaches Emanuel Mönch from New York Fed; Kyrgyz central bank loses two advisers to chairman; HKMA executive director set to move to IMF
South Africa’s central bank opens investigation on African Bank business
The investigation will determine if ’any business of African Bank was conducted recklessly, negligently or with the intent to defraud depositors’, the central bank says
IMF deems Czech exchange rate floor appropriate ‘for now’
Latest staff report commends CNB’s decision to intervene in foreign exchange market; supports the floor but says it should be removed ‘as soon as conditions allow’
Olli Rehn: Scotland would need central bank to join EU
Independent Scotland would not be able to both keep the pound sterling and join the EU, former commissioner argues, referring to ‘core part' of union treaty
Lautenschläger expects SSM to expand beyond eurozone
Supervisory board vice-chair ‘anticipates’ that more countries will join the SSM when it is up and running; ECB has not received any formal applications to date
Malaysia’s Zeti sees investment as next step for Islamic finance
Governor of Bank Negara Malaysia calls for new infrastructure to facilitate the development of Islamic investment intermediation
IMF calls on Nordics to keep housing markets in check
Article IV reports warn Norges Bank will eventually have to normalise policy rate above inflation target and call for Swedish macro-pru measures targeted at households
Sri Lankan central bank names four assistant governors
The appointees include the head of the central banks’ secretariat and the directors of the central bank’s international operations and centre for banking studies
China’s cooling property market ‘a challenge’ to growth objectives
RBA governor Glenn Stevens sees property market as a challenge to Chinese authorities’ growth objectives; Dallas Fed economists concerned about impact on shadow banking sector
Europe doubles RMB transactions with Greater China in one year
European hubs fuel growth in renminbi usage with 10% share of global payments, after major financial hubs sign swap agreements with the People's Bank of China
CPSS renamed the Committee on Payments and Market Infrastructures
Renamed body, the CPMI, handed an updated mandate to reflect ‘actual activites’; will press on with core tasks, says chair Benoît Coeuré
Rwandan governor: East African Monetary Union progressing ‘as planned’
John Rwangombwa says there are ‘big gaps’ between the five member states of the East Africa Community, but he is ‘comfortable’ with the progress towards closing them
HKMA executive director joins IMF's monetary and capital markets department
Dong He, HKMA head of research, new second-in-command at IMF division in charge of monitoring central banks and preparing Fund's Global financial stability report
Rating agencies must report on controls under new SEC rules
Amendments to SEC's credit rating agency rules focus on ensuring robust internal controls and preventing conflicts of interest