Central Banking
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Central Banking to resume service on January 2
Central Banking news and alert services are now closed for the festive season
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
RBA bulletin considers CCP resolution
Reserve Bank of Australia quarterly bulletin features an article on the recovery tools and resolution regimes that could be employed when central counterparties suffer losses
Farmer says ‘qualitative easing' should be a permanent tool
The ability of a central bank to alter the composition of the assets it holds is a powerful tool in the fight against unemployment and economic stagnation, and should be kept on hand at all times
John Taylor calls for international policy co-ordination
Paper published today by the BIS says recent unusual monetary policies have been appropriate and benign - and international co-ordination could lead to an international co-operative equilibrium
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
Reserve Bank of Fiji names two new chief managers
Lorraine Seeto and Vilimaina Dakai will head the departments for risk management and financial institutions as the central bank rotates senior staff members once again
Macedonian central bank launches financial literacy drive
Joint initiative with the government and other state agencies aims to improve understanding of, and involvement in, the financial system; agencies will also seek to promote cross-border co-operation
Fed taper met with calm, but questions remain
Markets take ‘expected' tapering in stride, but analysts warn of persistent emerging market vulnerabilities and changing FOMC dynamics in 2014
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor
EU members are ‘growing apart' not growing together, paper finds
Researchers examine EU member states' ‘dynamic convergence' and find seven separate groups of countries that are not converging with one another
Central Bank of Iceland to offload Kaupthing bonds acquired in the crisis
The bank will sell $860 million worth of covered bonds issued by Kaupthing Bank before the financial crisis over the next five years
National Bank of Austria overhauls ‘outdated’ website
Austrian central bank spent €500,000 renovating its 10-year-old website, with a focus on condensing the content and making it easier to navigate
ECB working paper says sovereign spreads driven by fundamentals
Paper finds that before the crisis, eurozone sovereign spreads were somewhat decoupled from fundamentals, but since then, country-specific factors have played a bigger role than regional contagion
Bank of Greece says new banking model needed to sustain recovery
The country's economy is ‘stabilising', according to the central bank's annual report on monetary policy, but until the banking sector returns to health, alternative funding channels will be needed
Singapore's Tharman to stay on as head of IMF advisory body
International Monetary and Financial Committee calls on Singaporean finance minister, and former MAS chief, to remain in the chair for one more year
Robert Pringle's Viewpoint: Towards a Central Bank of Scotland
As in the 1930s, the global financial crisis is causing geo-political fallout, including increased latent tensions in Britain’s constitutional arrangements and international alliances
Central Bank of Venezuela to buy country's entire gold production
Central bank in joint bid with state oil company to ‘regularise' production, sales and purchases of the precious metal, which last year accounted for 70% of the bank's international reserves
Basel Committee says world's biggest banks can't report risk adequately
Globally systemic banks have provided the Basel Committee on Banking Supervision with an update on their progress towards risk reporting goals - revealing deficiencies in data aggregation
Monetary transmission not to blame for weak bank lending in Brazil, IMF paper finds
Fewer loans due to shift in demand and possibly rapid expansion of state bank credit; if anything, sensitivity of lending to Selic rate changes seems to have increased, according to author
Carney defends forward guidance as UK unemployment falls closer to BoE threshold
Bank of England governor says reaching 7% unemployment threshold does not presuppose monetary tightening, but rather incorporates a deliberate buffer before full employment is reached