News
BoE markets head warns of collateral balancing act
Andrew Hauser says repo markets must be ‘prudentially sound’ but remain ‘sufficiently deep and liquid’; warns against an ‘excessive’ central bank presence
People: Poloz names special advisor; BoE appoints insurance specialist to PRA
Bank of Canada appoints senior advisor to the governor; UK's Prudential Regulation Authority names final independent director; payments systems Bacs and Chaps appoint new chairmen
Parliament launches inquiry into independence of Bank of England’s FPC
Law-makers raise questions over independence of Financial Policy Committee; concerned by Osborne’s recent changes to its membership and remit
ECB voices fresh concern over Central Bank of Cyprus' independence
European Central Bank says draft law on the governance of the Central Bank of Cyprus contains a number of threats to its independence; follows earlier intervention by Mario Draghi
Navigating an exit from accommodative policy is ‘an art and not a science’
Participants at CEPR forum debate the challenges central banks must deal with when withdrawing unconventional policies; some express concern over rising asset prices
Ukraine caps cash use in bid to boost e-payments
National Bank of Ukraine hopes to deliver a wide range of benefits by imposing limits on the size of cash payments
'Furious' jobs increase boosts Bank of Canada’s Poloz
Statistics Canada reports increase of 95,000 jobs in May; Poloz uses first speech in role to call for economic rebalancing and issue warning over low inflation
ECB issues draft regulation on systemically important payment systems
Central bank seeks comment on draft regulations implementing CPSS-Iosco Principles for Financial Market Infrastructures, for systemically important payments systems in the eurozone
Lithuanian governor says banking union does not require treaty change
As Lithuania gears up to take over the EU rotating presidency, central bank governor Vasiliauskas is confident of reaching a compromise on banking union within the existing legal framework
Japan government pension fund re-jig could see BoJ pick up $80bn in JGBs
Japan’s sovereign welfare fund signals could sell up to ¥8 trillion worth of domestic bonds; BoJ could potentially absorb them as it seeks to drive up the country’s monetary base
India issues inflation-indexed bonds to curb gold imports
India's debut issuance of inflation-linked bonds four times over-subscribed despite the launch coming as wholesale price inflation has tapered off; could be credit negative for India
Subbarao criticises plans to expand powers of regulatory supergroup
Reserve Bank of India governor Duvvuri Subbarao speaks out against plans to give Financial Stability and Development Council responsibility for regulating systemic risk
Basel securitisation reform creates 'perverse incentives’, says senior Japanese banker
Inconsistent rules are damaging financial intermediation, according to Takashi Oyama of Norinchukin Bank
ECB keeps SME measures ‘on the shelves’ and holds rates alongside BoE
Draghi says further unconventional measures were discussed at today’s meeting of the governing council, but are being held in reserve; ECB joins Bank of England in taking no policy action
Lagarde says QE risks are real, but bubbles are not forming yet
IMF managing director says accommodative policy should remain in place in advanced economies, but clear articulation of an exit strategy will be needed to avoid a repeat of 1994's ‘brutal exit'
ECB taken to task over SME finance in Central Banking debate
Participants in latest Central Banking On Air debate accuse central banks of 'unreasonably neglecting' SME funding difficulties; question whether the type of assets central banks hold is important
Financial exclusion in Europe driven by move away from cash, study finds
New report from Brussels-based pressure group finds financial exclusion is a growing phenomenon as cash falls out of favour for everyday transactions
Reserve Bank of Australia holds rates as exports drive growth
RBA decides against further cuts, as exchange rate converges on terms of trade and exports drive economic growth
Latvia to adopt euro in 2014
European Commission gives Latvia the green light to become eighteenth eurozone member after it comfortably meets convergence criteria, but ECB voices concerns over price and financial stability
Riksbank predicts ‘elimination’ of retail payments competition
Sweden’s retail payments market is expanding but Sveriges Riksbank says larger players will prevail and smaller companies ‘will be eliminated’
Fischer gives high marks to Bernanke and Draghi
Outgoing Bank of Israel governor Stanley Fischer believes the world owes a great debt to Fed chairman Ben Bernanke and praises ECB president Mario Draghi; says Israel can live with side effects of QE
Draghi and Carstens step up at BIS as King retires
Mervyn King's retirement as governor of the Bank of England has created three chair positions on BIS committees that will be filled by the heads of the ECB and the Bank of Mexico
Brazilian currency must adapt to 'new reality', says deputy governor
Talk of an end to Fed QE is creating a 'new reality' for other currencies, as capital begins to flow back to the US; BCB will intervene if it sees the real diverging from a basket of currencies
HKMA and RBA voice fears over Iosco benchmark proposals
Responses to Iosco's Principles for Financial Benchmarks reveal concerns that many markets will not be able to support transactions-based rates; RBA questions 'lexicographic hierarchy'