Governance
MAS director calls for firms to promote good governance
As regulations shift towards strengthening culture at firms, there is only so much central banks can do, MAS’ Ngiap says; firms must put customers before profit
ECCB building named in honour of former governor
ECCB names central bank building after its longest-serving governor, Dwight Venner; current governor and former colleague pay tribute to late governor
Don Kohn: ‘Rancorous’ political climate enhances need for ‘non-partisan expertise’
The Fed veteran and Central Banking Lifetime achievement award-winner says central banks will find it “even more difficult” to improve their performance and public regard, given the current political backdrop
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
Sri Lankan central bank rejects finance minister’s accusation
Bank says it followed existing law in issuing and re-issuing bonds
Norges Bank increases staffing in 2016
Annual report shows 8% increase in staff levels, as well as changes to the governance structure; central bank makes a slight loss due to exchange rate movements
Sarb shares back on sale after long legal battle
Central bank’s lawyers have been grappling with activist investors since before the global crisis; court victory allows Sarb to put shares on sale
People: Ireland deputy departs for private sector; BoE’s Broadbent to sit on new prudential committee
Cyril Roux to leave the Central Bank of Ireland in April; Mark Carney appoints Ben Broadbent to new prudential regulation committee; and more
Czech National Bank reorganises supervision department
Bank says it will increase staffing of revamped division
Ukraine central bank: governor is not considering resigning
Local reports say Valeria Gontareva wishes to step down; NBU gives first custodian contract to commercial bank
Barbadian finance minister thanks Worrell, despite sacking him
Sinckler says government will “eliminate reliance" on central bank financing; gives Worrell lukewarm thanks for his time as governor
Hogg stresses readiness to resist groupthink at BoE
New joint deputy and COO says she is willing to stand up to Mark Carney after committee chair flags risk of “over-mighty governorship”
Sri Lankan finance minister accuses former governor of fraud
Ex-president and former central bank governor are both accused of “fraudulent management of public debt”
MAS forms council to toughen corporate governance code
Ageing code of corporate governance needs to be updated to reflect best practice, authority says; chairman notes pressure on companies to become more transparent
People: CBRC gets new chair; Colombian board member appointed
Veteran official takes top job at Chinese banking regulator; Gerardo Hernández Correa joins Colombian central bank; appointments at ESM and Czech National Bank
Worrell fired from Central Bank of Barbados
Finance minister removes governor from post after court battle; deputy appointed by the board to serve as new governor
ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
External review of the RBA to begin next month – Lowe
Governor tells MPs the central bank wants to identify opportunities for improvement; assessment will look into operation and administration, not policy framework
Worrell’s woes: Barbadian governor battling on two fronts
Further evidence emerges on governor’s clash with finance ministry and board; Worrell worried about level of reserves and fiscal spending, while senior management complains of being marginalised
Carstens agrees to stay at Bank of Mexico until December
Following a meeting with the Mexican president and finance minister, the governor will stay until end-November; BIS board approves the arrangement with general manager Caruana to stay until December
Sri Lankan governor appears before inquiry into alleged fraud
Critics allege malpractice involving firm owned by former governor’s son-in-law; local media report officials also worried by severe drought
People: Riksbank’s Nessén takes on new advisory role; Albizu retains CMCA chair
Riksbank’s head of monetary policy takes on new board advisory role; Dominican governor reappointed by peers to serve as the CMCA’s chairman for another six years; and more
Market discipline stems Level 3 asset manipulation – paper
Bank of England paper shows link between low capital ratios and Level 3 assets between 2008–2013, but market discipline moderates the impact from accounting discretion
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made