Central Banking
Rajan predicts ‘revolution’ in banking industry
The Indian banking sector is ‘on the cusp of revolutionary change’ as new developments and growing competition are breaking down the ‘grand bargains’ that once dictated its structure
Robert Pringle's Viewpoint: A pride of central banks
Much current criticism of central bankers misses the point, but there is no room for complacency
FOMC mulls further tweaks to forward guidance
Committee member floats the idea of replacing inflation target with a price level target to make up for years of undershooting 2% inflation
Armenia central bank chair wins second six-year term
Arthur Javadyan will remain at the helm of the Central Bank of Armenia for another six years; country is entering into another programme with the IMF
Turkish rate cut baffles markets as inflation heads for double figures
Turkey's central bank cut rates today despite inflation of almost double the target level; deputy governor tells CentralBanking.com the focus must return to price stability
Target2 values drop by €150 trillion as ECB changes statistical methodology
European Central Bank excludes overnight deposits from data sample; values processed by Target2 drop from €643 trillion in 2012 to €493 trillion in 2013 as a result
Euro Retail Payments Board sets out work plan in wake of Sepa migration
The board creates two working groups in its first meeting; one on post-migration issues, the other on finding Europe-wide solutions for securing electronic mandates for direct debits
Romania governor backs banking union as ‘substitute' for fiscal union
National Bank of Romania governor is prepared to take his country into the single currency despite the lack of a fiscal union without which monetary union 'cannot function properly'
Bank of England minutes reveal 'variety of views' on monetary policy path
Emphasise 'gradual and cautious' move on interest rates, though 'for some members' the monetary policy decision is becoming 'more balanced'
PBoC favours London as offshore RMB hub, says leading Chinese banker
The Chinese government and central bank 'think very highly' of London, says top Chinese banker who predicts the City will play a key role in renminbi internationalisation
Yellen hails Bernanke's courage in university speech
Fed chair Janet Yellen tells New York University graduating class her predecessor was brave to take ‘unprecedented' actions to fight the financial crisis
New York's Dudley advocates BoE approach to QE exit
New York Fed's William Dudley wants to get off zero lower bound before ending reinvestments in QE assets, the approach favoured by the Bank of England's Mark Carney
Nigerian court ruling deepens concerns over central bank independence
Former governor Sanusi Lamido Sanusi's appeal against presidential decision to suspend him is dismissed by judge; investors ‘nervous' about bank's autonomy
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
MMA governor: Maldives has 'unprecedented opportunity' to put economy in order
Azeema Adam says the Maldives Monetary Authority is reviewing regulations in a bid to unburden country's financial sector
Islamic investors must expand out of real estate, says Bahraini central banker
Abdul Rahman Al Baker says it is critical for Islamic financial institutions to better understand clients' needs
Central bank holdings of Australian dollars may be levelling off, says RBA's Debelle
RBA deputy governor Guy Debelle says the majority of sovereign asset managers diversified into Australian dollars by 2012, so overseas holdings of sovereign debt may soon plateau
EU sovereign debt managers fall in line with two-day settlement rule
EU member states' treasuries will settle over-the-counter sovereign bond transactions in a maximum of two days from October this year
Croatian National Bank knows best on FX policy, IMF finds
Croatia's central bank stuck up for its exchange rate policy in Article IV discussions with the IMF, which conceded the bank knew best on a range of issues
Central Bank of Kuwait puts own building on new banknote
Banknote series unveiled yesterday will come into circulation on June 29; new features include raised print to help blind people tell which note they are holding
SNB's Jordan says Fed fines raise ‘fundamental' questions for Swiss banking
Credit Suisse pleads guilty to helping US clients evade taxes by setting up offshore accounts; SNB chairman cites ‘major reputational damage' to industry
Coeuré calls for further progress to single capital market
ECB board member Benoît Cœuré tells International Capital Market Association that price convergence alone will not signal the end of eurozone capital market fragmentation
Banxico deputy says free trade deals will boost medium-term growth
Javier Guzman says Mexico has 'tariff-free access to a potential market of more than a billion consumers and 60% of world GDP'
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region