Central Banking
Eurozone's Single Resolution Board sets out 2016 plans
Eurozone's Single Resolution Board sets out its plans for 2016; resolution manual to be published in summer and resolution plans to be approved by end of 2016, board member says
Regulators sanction Swiss bank over links to Malaysian government fund
Swiss regulators impose range of measures on bank for breaching anti-money-laundering regulations; MAS will withdraw bank’s licence to act as merchant bank in Singapore
BoE paper explores impact of climate-change policies on central bank objectives
Unexpected tightening of carbon-emission policy could generate "significant" balance-sheet losses, paper says; transparency is key to maintaining financial stability
Swift to roll out cyber security programme
CEO announces five-part initiative, with improved information sharing a key element; full details to follow this week
Lagarde: Kazakhstan central bank needs clear mandate
Floating the currency was "just the beginning", IMF chief says; urges update of monetary and fiscal policy frameworks
Philadelphia Fed president sees potential for two or three hikes in 2016
Patrick Harker warns of needs to avoid “aggressive policy actions” in the future; expects both inflation and expectations to rise in the medium-term
Carney and MPC members defend independence
Mark Carney warns vote to leave EU could result in technical recession, defends decisions to comment on referendum; Broadbent, Vlieghe and Weale assert independence
SBP catches markets off guard with cut
State Bank of Pakistan’s MPC votes for rate cut after being split 5-5 in April, confounding markets’ expectations; inflation on the rise
Exports decline ‘worrying’ as Bank of Israel holds
Monetary committee cites "intensifying decline" in exports as it holds the policy rate at 0.1%; inflation dips to –0.9%, as growth figures disappoint
Nakaso: BoJ should play leading role in global stability discussions
Greater co-operation needed among central banks to maintain global financial stability, says Japanese deputy; cites need for engagement and close monitoring
Arab countries must improve macro-prudential arrangements – IMF paper
Many Arab countries need to improve their macro-prudential policy frameworks, an IMF working paper argues; regulators need policy mandates and better information
Regulators must improve co-operation in monitoring shadow banks – Irish governor
Regulators must develop better systems for managing and sharing information on shadow banks, Ireland’s central bank governor says; better understanding of “geography of risk” needed
Further tightening may be needed in Colombia, IMF says
Staff in Washington, DC, welcome “resolve” of central banking in latest tightening cycle; current account deficit and inflation expectations may call for further action
Same factors can have different effects on bank risk profiles, ECB staff say
Factors that increase default risk for large and complex eurozone banks can decrease it for smaller banks, ECB staff say; results are based on new model of bank risk
BoE economists map current account dangers across OECD
Treating the current account as equivalent to the balance of trade could blind economists to the risks posed by large deficits, say Kristin Forbes, Ida Hjortsoe and Tsvetelina Nenova
Kenyan central bank sets out Imperial Bank progress
Several court cases to be heard in coming weeks regarding central bank’s handling of receivership; one matter sees two depositors seeking 1 billion shillings
China appoints new deputy governor
Former IMF official Zhang Tao appointed to deputy governor role at People's Bank of China; local media speculates he may return to the IMF as deputy managing director
Norges Bank reveals methods used to monitor banknote quality
Central bank to conduct ‘fitness surveys’ twice annually, analysing a host of variables to define which banknotes are suitable for circulation
Fischer: improve estimates of long-run equilibrium rate
Fed vice-chair speaks at conference honouring US economist Michael Woodford; stresses need for "faster potential growth" as US nears full employment
Central Bank of Bahrain launched range of initiatives in 2015 – annual report
Last year the bank set up a Sharia supervisory board, launched Islamic liquidity facilities, set to work on Basel III and upgraded its IT systems
Bank of Italy creates secondary market for trading in its own shares
Italy’s central bank has created a secondary market for dealings in its own shares as part of a plan to limit individual firms’ holdings to 3% of total shares
Embracing digital tech could reduce systemic importance of banks – RBNZ article
Bulletin discusses risks surrounding digital disruption in the banking sector; if unregulated entities provide "significant portion" of banking services, new risks may emerge
Denmark outsources coin minting to Finland
Mint of Finland wins tender to produce krone coins, as National Bank of Denmark seeks to cut costs by closing down its coin and banknote operations
Haldane admits BoE communications can be ‘impenetrable'
Chief economist notes ever-longer publications have not tallied with better understanding among the UK public, suggesting the message needs to be clearer and simpler