News
Predictive text: Bank of Lithuania prepares to announce euro adoption by SMS
The Bank of Lithuania strikes a deal with mobile operators to text their customers if and when the EU Council names the country as the 19th member of the eurozone
Central Banking will return on April 22
Central Banking Daily News and the Central Banking Daily Briefing are closed from Friday, April 18, until Tuesday, April 22
ECB launches programme to prepare Balkan central banks for EU
Macedonian, Albanian, and Kosovar central banks will benefit from a €500,000 programme and EU expertise to help them prepare to one day join the Eurosystem
Kyrgyz governor steps down after three years
Governor announces intention to leave central bank before term is up due to ‘family circumstances’; emphasises success of ‘radical reforms’ in past three years at the helm
Fed paper challenges New Keynesian orthodoxy
Working paper argues sticky prices, which underpin most central banks’ New Keynesian models, can produce implausible results at the zero lower bound, with major implications for policy
South African banks fined $12m over lax money laundering controls
Standard Bank is fined $5.7 million and three other banks given smaller penalties over failure to implement required processes that would prevent customers from laundering money or financing terror
Frontier bonds find buyers as investors reach for yield
Pakistan sells $2 billion worth of Eurobonds as investors look for alternatives to US Treasuries; Greece and Swaziland among countries to find success with bonds in own currency
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report
Hungary central bank buys interbank clearing company Giro
Central Bank of Hungary aims to buy out remaining minority shareholders in the country's provider of interbank settlement services over the next two months
Czech National Bank calls for research on 'priority topics'
Topics include potential improvements to inflation targeting framework and the issues related to euro adoption; Bank of Estonia also launches research award
Deutsche-MAS allegations may go back five years
Monetary Authority of Singapore says it is in touch with Deutsche Bank over its investigation of 'inappropriate' communications, which could be as old as five years
Riksbank calls for FMI recovery plans
Sweden’s central bank concerned by the lack of recovery and resolution plans for the country’s financial market infrastructures; calls for changes at individual platforms and in legislation
People: Maldives governor approved; Nigeria deputy starts
Maldives parliament approves president's second choice nomination for governor; new Nigerian deputy takes up his post; Pope appoints adviser to Vatican ‘central bank'
Ukraine hikes rates as fears grow of spiralling inflation
Ukraine is implementing economic reforms in order to win the favour of international donors, but the weakening currency risks sending inflation out of control
European Parliament adopts banking rules
Parliament approves the single resolution mechanism and adopts rulebook on bank recovery and resolution; MEP Sven Giegold warns banking union is ‘not yet complete’
Israel to announce rate decisions while trading floor is open
Move will bring Israeli central bank in line with its international peers but unlikely to make much practical difference, observers say
HKMA and Bank Negara Malaysia combine to promote sukuk market
Central banks in Hong Kong and Malaysia working together to promote Islamic finance; Hong Kong government nears $500 million sukuk issuance
Top central bankers meet at IMF to discuss way forward in the 'new normal'
IMF's Christine Lagarde hosts day-long conference taking on the challenges set to face the world's central bankers in the medium term
Bank of Canada names Carolyn Wilkins as number two
Carolyn Wilkins will be the first female senior deputy governor in the Bank of Canada’s history; served as the central bank’s head of financial stability 2011-2013
Ingves touts simplicity of final Basel CCP rules
Chairman of the Basel Committee says final rules for banks’ exposure to CCPs show success of ‘relatively simple solutions’, which includes single approach for calculating capital requirements
South African Reserve Bank shares set to hit the market
A significant number of shares in South Africa's central bank are expected to go on sale later this year after the ‘regularisation' of ‘certain shareholdings'
Bank of England and ECB in joint call to put ABS back in play
European Central Bank and Bank of England promise more thorough treatment of how to reverse asset-backed securities market decline - which could allow ECB to undertake QE
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference