Central Banking
CFTC’s Pan: PFMIs not a template for global regulation
US regulator has previously warned EU supervisors not to unpick hard-won equivalence agreement
BoE to provide ‘tailored’ assistance to African counterparts
UK central bank to share expertise with counterparts in South Africa, Sierra Leone and Ghana, as part of wider initiative to support African economies
China’s former chief insurance regulator charged with corruption
Xiang Junbo served as deputy governor at the central bank from 2004 to 2007
UK wage growth outstrips inflation
Lower unemployment and above-target inflation reinforce May hike probability
Do not discount central bank digital currency yet – Lagarde
IMF chief says central banks may be forced to issue their own form of crypto-asset if private sector alternatives remain ‘risky and unstable’
Clarida and Bowman nominated to Fed
Monetary economist and community bank specialist picked to fill vacancies on Fed board
ECB will ‘accelerate efforts’ to tackle staff concerns after second survey
14% of respondents report “inappropriate words or behaviour in past year”
Rising rates seen as main risk by reserve managers
High asset prices and the halting and withdrawal of bond-buying programmes pose challenges
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
People: Bank of Russia appoints new Moscow chief
Senior appointment at Bank of Russia; Uzbekistan picks new deputy; Bank of Japan gains new head of international affairs; Eiopa shuffles board
Chinese housing markets need to make ‘painful adjustment’ – IMF paper
Authors suggest governments set up body to ensure liquidity is available for housing market if prices fall suddenly
Irish deputy governor warns of Brexit risks
But Ed Sibley says “much of the heat has gone out of regulatory arbitrage issue”
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
Synchronisation of global house prices poses new risks – IMF
Macro-prudential housing policies may be affected by global movements, researchers say
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
Riksbank should reduce balance sheet to avoid risks – Flodén
“Best way” of running down bond holdings is to hold bonds until maturity
Prudential curbs on lending are working – RBA report
Central bank says concerns over riskier forms of lending “have eased”
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
BoE should not merge monetary policy and macro-pru - Broadbent
Merging key committees could undermine accountability, says deputy governor