Central Banking
Europe’s CCP recovery rules draw fire
CCPs and clearing members unhappy with proposed allocation of non-default losses
IMF warns Tunisia over inflation, deficit and currency
Central bank may have to hike rates further, IMF executive board says
Bank of Canada building systems back-up outside Ottawa – annual report
Cyber risk is becoming “a top priority”, Poloz says
BoE outlines DLT proof of concept
Participants will access cloud-based platform which will simulate new RTGS system
UK crime agency probes possible fraud against National Bank of Angola
Former Angola central bank governor indicted amid $500 million fraud allegations
Dudley outlines tougher incentives to make bankers behave
New York Fed chief says compensation could be linked to banks’ loss absorbency
Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and an appreciating rand mean the South African Reserve Bank could cut rates at its meeting next week, but analysts think it might be too soon
Bank of Ghana slashes rates as inflation moves towards target
Central bank continues an easing cycle that began in 2016, citing a “significant moderation in price pressures”
PBoC gains two-headed leadership
In appointing Guo Shuqing as party secretary at the PBoC, president Xi Jinping appears to be strengthening party control over the central bank
DLT offers new possibilities for securities settlement, says ECB and BoJ team
Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms
Communications on financial stability should be strengthened
The IMF’s Olga Stankova outlines how central banks and other official agencies can better communicate their financial stability work
Technological change has contributed to low wage increases – Riksbank’s Skingsley
Monetary policy can respond by balancing high resource utilisation with price stability
‘Interventions’ are needed for gender balance, says BoE COO
Offering women opportunities is not enough, says Joanna Place; women need to feel confident enough that they “can and will” take positions
Lagarde proposes new European fiscal fund
The mechanism would reduce reliance on monetary policy to respond to future crises
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
Fed policy should become more neutral – Bostic
As the economy operates close to potential and inflation approaches target, rates can be raised, the Atlanta Fed president says
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
Yield curve can help improve forecasts – RBNZ economists
Yield curve information tends to improve forecasts of economic activity, researchers find
Bank of Uganda warns on debt levels
Debt levels could be closer to 50% of GDP if undisbursed loans are taken into account; government upgrades risk of debt distress to “moderate”
People: Brazil central bank set for female deputy
Carolina de Assis Barros set to become deputy governor after reshuffle; ECB’s Euribor expert prepares for EMMI move; and more
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Ukrainian central bank criticises lawmakers for failing to reform state-owned banks
Draft law aimed to protect country’s largest banks from ‘political impact’, NBU says
Norwegian governor reflects on investment of oil revenues
A conservative approach allows the country to avoid “Dutch disease” – Olsen
IMF unveils new data strategy
Fund’s first ever “overarching strategy” on data envisages new approach to gathering, processing and sharing statistics