Asia-Pacific
New leaders take charge at Philippines central bank
New governor pledges to enhance financial inclusion, mitigate cyber-crime risk and fine-tune monetary policy to make it more market-oriented
Are central banks allowing markets to get a bad name?
Dispute over the role of offshore derivatives trading in Asia raises important questions about the role of financial markets in a world increasingly dominated by short-term trading
BoJ told to improve communication on potential exit from stimulus
Speculation is growing over the timing and method of the exit from the stimulus programme, creating a new communication challenge for the BoJ
Indonesian banks will switch to reserves averaging in July
Latest move in Bank Indonesia’s major overhaul of monetary policy transmission and efforts to deepen financial markets
Australia’s bank levy could squeeze TLAC drive
Issuing Tier 2 and senior unsecured debt will become more expensive for the top four banks in the country
BNM’s Ibrahim urges Asia to “re-engineer” global monetary system
Countries should reduce their reliance on the US dollar and promote a “multi-currency market” within Asean, says Muhammad bin Ibrahim
MAS’s DLT project posts successful results
Network issues digital Singapore dollars across a DLT network to settle interbank debts; problems with credit risk and liquidity will be addressed in future work, central bank says
NPLs ‘must’ rise during downturns – MAS’s Menon
If NPLs failed to rise during “difficult times”, that would be a sign banks are not doing their job right, MAS chief says
Bank Negara governor defends efforts to curb NDF market
Malaysian central bank will continue its actions to improve market mechanism to facilitate an open and robust onshore financial system
No Asean pan-regional regulator in near future – panellists
Divergent stages of development, a desire for sovereignty and the limited business case are hampering further integration, speakers say
Tackling the ‘human agency’ problem
Central banks are readying their communication strategies to mitigate a populist backlash against their post-crisis policies
BoJ’s Kuroda cites three channels to promote financial inclusion
Bank of Japan governor urges policymakers to enhance financial inclusion in Asia
BoJ cuts inflation forecast at a time of falling JGB purchases
Bank of Japan reduces forecast to 1.4% as bond purchases appear to be declining
A CCP is a CCP is a CCP
The challenge of establishing standards for CCP risk management and resilience is even more difficult when policymakers view CCPs through the lens of banking regulation
Bank Negara Malaysia official offers tough line on corruption
Malaysia’s central bank has a “zero tolerance policy” and will not protect those who choose to cross a line, assistant governor says; institution has “refreshed” ethical framework
MAS’s Menon stresses importance of fintech regulation timing
Fintech needs regulation, but it should not “front-run” innovation, says Menon; regulation should “kick in” only when fintech risk “crosses a certain threshold”
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made
Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “the workshop of the world” as the trade in goods slows down, says the Bank of Japan governor
Ruling party think-tank leader endorsed as Tetangco’s replacement
Senate president endorses private sector banker with ties to ruling party; time “for bold and innovative” leadership at central bank, he says
Philippines central bank enforces virtual currency regulation
Exchanges will have to apply for certificate of registration and implement specific risk management framework; central bank imposes transaction limit
Protectionism will undermine global trade recovery – Greek deputy
Mourmouras warns Donald Trump against enforcing protectionist policies, highlighting the negative effects it could have on global trade
‘Flash’ currency moves will continue to surprise markets – BoE’s Salmon
Bank of England executive director says there is “growing potential” for flash events to occur in core markets, despite markets now being able to identify risks
CLS signs MoU with Chinese think-tank
The forex utility will work with the National Institution for Financial Development to support the renminbi’s internationalisation