Central Banking
Madagascar launches high-denomination banknote
New banknote series will use new security features on a number of substrates, one of which has been created by Banque de France
Uganda central bank sues Crane Bank director for over $100m
Bank of Uganda investigation finds troubled Crane Bank owned wholly by one person; third party to file action against the central bank for negligence in handling Crane saga
RBNZ’s Bascand says banks now less reliant on offshore funding
New Zealand banks are attempting to reduce risk and respond to regulatory changes by tightening lending standards and “aggressively” competing for deposits, says RBNZ deputy
Draghi, quo vadis?
Jesper Berg warns the eurozone's improved outlook creates a host of problems for the ECB, as it must balance competing demands
Policy mix has important implications for spillovers – Fed’s Brainard
Fed governor says degree of divergence between central banks and choice of policy tool affects the exchange rate impact and therefore spillovers
BIS paper seeks hints that Swiss franc floor was about to break
Measures derived from option prices indicate credibility fell before floor was removed; error correction model shows some improvement over random walk
RBNZ considers cutting contingent instruments from capital regime
Central bank casts sceptical eye over debt instruments with in-built conversion triggers, following recent problems in Europe
Kganyago says public protector’s response was ‘not good enough’
Response to central bank’s challenge exposed Mkhwebane’s “own lack of competency”, Sarb governor says, reiterating that the central bank’s mandate should be “left alone”
Fed would remove Wells Fargo board if ‘appropriate’, says Yellen
Fed chair asked why stricter penalties had not been imposed after bank opened millions of fake accounts; senator Warren says current system has created “bullet proof” executives
BoJ ups asset purchases to curb bond market pressure
The Bank of Japan has increased the size of JGB purchase operation and announced unlimited purchases of 10-year JGBs at a fixed rate of 0.11%
Credibility essential to Central Bank of Brazil success, says IMF
Further changes to the central bank’s inflation target could limit future policy space, fund advises, praising improved transparency of communications
EBA study quantifies impact of IFRS 9
Report finds smaller banks are likely to see a heavier capital impact from new accounting rules; Basel Committee paper says a mix of forward- and backward-looking rules may work best
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
BSP’s Espenilla: Philippine banking system is ‘very robust’
Central bank to use data-gathering portal to improve services and increase communication with the general public
Da Silva argues for ‘second-best solution’ to climate change
Financial sector must play a “pivotal” role in tackling climate change, but central banks should not be overstretched in the process, the BIS deputy general manager says
Trust key to interbank lending, study finds
'Social collateral' collapsed during 2008 crisis, finds Swiss National Bank paper
Yellen warns of debt impact on productivity
Fed chair states in “strongest possible terms” that the current spending by the US government is unsustainable and could harm productivity
Armenia dropping high-denomination note in new hybrid series
The central bank says the note worth $200 will not be included in the new series; submissions for design proposals for the new series are now being accepted
BEAC to implement measures to rebuild reserves across region
African central bank to restrict bank refinancing, while attempting to modernise its liquidity and monetary policy framework; previous monetary policy has contributed to current account deficit
UK elects first woman to chair Treasury Select Committee
Nicky Morgan to take over from influential chair Andrew Tyrie, who stepped down this year; former secretary to treasury seen as supporter of “soft” Brexit
Bank of Canada hikes for first time in seven years
Bank of Canada becomes the latest advanced economy central bank to hike as the economy proves robust and inflation moves towards target
Deregulation aided women entering US labour force – paper
ECB paper finds efforts to open up the credit market from the 1970s to 90s helped reduce the gender gap in the labour force
Bank of Russia takes over major commercial bank
Deputy governor says there is evidence of “misleading” reporting from Bank Jugra; depositors will be able to access their money from July 24
Zimbabwe’s bond notes are ‘exacerbating’ economic fragility, IMF says
Fund urges Zim authorities to restore credibility to currency regime as financial crisis shows no sign of abating