News/Financial Stability
Sweden's Riksbank appoints new head of IT
The Executive Board of the Sveriges Riksbank appointed Hans Ohlson as new head of the IT Department on Friday 16 February. Mr Ohlson will take up this post on 15 May.
ECSDA calls for postponement on settlement system
The European Central Securities Depositories Association (ECSDA) has called for the European Central Bank to postpone plans to implement an integrated securities settlement system in the euro zone, the Financial Times reported.
ECB rapped by EU privacy regulator over Swift
The EU's data protection supervisor, Peter Hustinx, said Thursday 2 February that it was unacceptable for confidential data to be handed to US authorities and the European Central Bank should do more to control the Swift payment transactions network.
China's Yu says coordinate foreign reserve policy
Yu Yongding, a former adviser to the People's Bank of China, said on Friday 26 January that officials should coordinate foreign reserve policy with other Asian central banks to prevent volatility in currency markets.
RBNZ's Spencer to switch to financial stability
Reserve Bank of New Zealand governor Alan Bollard announced Tuesday 23 January that assistant governor, head of economics, Grant Spencer, will move to become head of financial stability.
Ministers concerned over settlement plan - report
European finance ministers have raised doubts about the European Central Bank's plan to provide its own settlement system for eurozone securities transactions, the Financial Times reported Monday 22 January.
Riksbank names new head of financial stability
At its meeting on Tuesday 16 January, the Executive Board of the Swedish Riksbank appointed Mattias Persson the new head of the Financial Stability Department.
ECB says pan-euro settlement system to cut costs
The European Central Bank said Tuesday 16 January it believes the implementation of an integrated securities settlement system in the euro zone could cut settlement costs by up to 90%.
HKMA says real-time bond system ready 5-6 weeks
The real-time settlement system for yuan-denominated bond issues in Hong Kong will be ready in 5-6 weeks, HKMA chief executive Joseph Yam said in Beijing Tuesday 16 January.
ECB says Slovenia's euro switch successful
Two weeks after the introduction of the euro banknotes and coins, the cash changeover in Slovenia has been successfully finalised in accordance with the plans, the European Central Bank said Tuesday 16 January.
EPCA conference scheduled for May
The 6th International European Payments Consulting Association (EPCA) Conference will be held in Frankfurt on 15 and 16 May 2007. This year's theme is 'Reshaping the European payment landscape: the realistic scenarios'.
China considering economic super agency
China's state media reported Tuesday 9 January the country will mull a new financial super inter-agency to manage its five trillion dollars held in the nation's various state-run financial institutions.
Wall Street Systems announce new derivatives deal
Wall Street Systems, a provider of global treasury, trading and settlement services, has announced a new partnership with NumeriX, provider of cross-asset derivatives pricing and valuation software.
Adrian Orr to leave RBNZ
Reserve Bank of New Zealand deputy governor and head of financial stability Adrian Orr is leaving the Bank to take up the role of Chief Executive of the Guardians of the New Zealand Superannuation Fund, the RBNZ said Monday 8 January.
China to launch SHIBOR to develop benchmark rate
China will launch the Shanghai Interbank Offer Rate (SHIBOR) from Thursday 4 January, in a move to develop a benchmark rate for the interbank market, the People's Bank of China said.
Central banks sign MoU on financial crises
An agreement entitled "Memorandum of Understanding on Management of a financial crisis in banks with cross-border subsidiaries or branches" was signed in Stockholm Monday 18 December by the central banks of Sweden, Estonia, Latvia and Lithuania.
SNB's Roth warns on appetite for risk
Swiss National Bank president Jean-Pierre Roth said Friday 8 December he does not feel comfortable with recent developments seen in global financial markets.
Robert Mclean joins Australia's PSB
Australia's treasurer Peter Costello has appointed academic and businessman Robert McLean as a part-time member to the central bank's Payments System Board (PSB) for a five-year term.
PBOC sees risks if dollar slides
The People's Bank of China said in a report published Thursday 7 December that it is concerned over a possible slide in the US dollar if there is a widespread move to sell off dollar assets.
Nigeria to get more efficient payment system
The Central Bank of Nigeria (CBN) is to implement a robust and more efficient payment system in the country, the official News Agency of Nigeria reported on Monday 4 December.
Turkey's Yilmaz: Economic crisis out of question
"The current account deficit which has been rising due to high economic growth should be monitored closely," Turkish central bank Governor Durmus Yilmaz has indicated at a news conference Monday 4 December.
RBNZ runs out of coins in Xmas lead up
Just five weeks after phasing out the old coins, the Reserve Bank of New Zealand has now written to the country's retail banks warning them there will be a shortage of the new 20 cent pieces in the lead up to the busy Christmas period.
SWIFT broke laws - EU committee
SWIFT, an international financial data transfer agency, breached European data privacy laws in handing over personal data to American investigators, according to a report by a European Union committee.
ECB wants more clarity on Sepa for cards
The European Central Bank said Monday 20 November it has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in…