News
Reserve managers continue push into diverse currencies
Latest data from the IMF shows non-traditional reserve currencies continue to see their share of global reserve holdings grow; sterling, yen and the Swiss franc fall in favour
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Bank Indonesia hands supervisory powers and 1,150 staff members to FSA
Shake-up of bank supervision sees micro-prudential responsibilities transferred from the central bank to the financial services authority
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Central Banking to resume service on January 2
Central Banking news and alert services are now closed for the festive season
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
Reserve Bank of Fiji names two new chief managers
Lorraine Seeto and Vilimaina Dakai will head the departments for risk management and financial institutions as the central bank rotates senior staff members once again
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
Fed taper met with calm, but questions remain
Markets take ‘expected' tapering in stride, but analysts warn of persistent emerging market vulnerabilities and changing FOMC dynamics in 2014
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor
Central Bank of Iceland to offload Kaupthing bonds acquired in the crisis
The bank will sell $860 million worth of covered bonds issued by Kaupthing Bank before the financial crisis over the next five years
National Bank of Austria overhauls ‘outdated’ website
Austrian central bank spent €500,000 renovating its 10-year-old website, with a focus on condensing the content and making it easier to navigate
Singapore's Tharman to stay on as head of IMF advisory body
International Monetary and Financial Committee calls on Singaporean finance minister, and former MAS chief, to remain in the chair for one more year
Central Bank of Venezuela to buy country's entire gold production
Central bank in joint bid with state oil company to ‘regularise' production, sales and purchases of the precious metal, which last year accounted for 70% of the bank's international reserves
Basel Committee says world's biggest banks can't report risk adequately
Globally systemic banks have provided the Basel Committee on Banking Supervision with an update on their progress towards risk reporting goals - revealing deficiencies in data aggregation
Carney defends forward guidance as UK unemployment falls closer to BoE threshold
Bank of England governor says reaching 7% unemployment threshold does not presuppose monetary tightening, but rather incorporates a deliberate buffer before full employment is reached
Bank of England promises diversity on new polymer banknotes
Public consultation revealed 87% of Brits in favour of switching to polymer banknotes; Bank of England also unveils a new system for selecting historical characters to feature on its notes
Bank of Tanzania launches financial inclusion framework
East African country is aiming for 50% formal financial inclusion by 2016, up from 22% today; strategy will tackle supply side, demand side and structural obstacles
Sudan names new central bank governor
Abdul-Rahman Hassan was appointed by president Omar al-Bashir last week; he previously served as director of a local bank, according to state news agency
IMF could help overcome ‘myopia' on international monetary policy co-operation
IMF deputy head of research Jonathan Ostry argues in new paper with Atish Ghosh that international macro policy co-ordination could bring global welfare benefits, with IMF playing a central role
Riksbank cuts rates on falling inflation, leaning less against the wind
Swedish central bank cuts interest rates by 25bp to 0.75% to counter falling inflation; household debt levels still a risk, says Ingves, but calls on ‘others' to do more to keep them in check