Governance
Parliament gains influence in FCA chief appointments
George Osborne says Treasury Select Committee will be able to scrutinise future appointments before they are formalised, with the ability to send them to the House of Commons for a vote
FCA paper investigates whether HFTs predict orders
Working paper finds patterns consistent with HFTs anticipating order flows over longer time periods, but authors unable to ascertain cause
People: ECB names HR director-general; BoE gets new MPC member
ECB appoints new head of human resources; Citigroup economist joins Bank of England’s Monetary Policy Committee; New York Fed’s chief lawyer to step down after twenty-one years in the role
New Tunisian central bank law boosts independence and expands mandate
Law governing the Tunisian central bank is amended, with the aim of increasing independence and giving the bank a financial stability role; law drafted by the central bank with IMF assistance
Namibia in process of scrapping assistant governor position for second deputy
Bank of Namibia board to review proposal for legislative changes this month, before submitting it to parliament; assistant governor role vacant for over two years
Central Banking launches ‘responsive’ website
New website aims to offer more user-friendly experience, automatically adjusting to whatever device used – be it computer, tablet or smartphone
People: Turkey nominates new governor; McDermott to step down from FCA
Turkish government picks deputy to replace Erdem Başçı, but he must still be confirmed by the president; UK’s interim FCA chief says she will leave when her successor takes office; and more
New Moldovan governor takes up post
New governor at Moldovan central bank must deal with after-effects of massive theft from three commercial banks; Sergiu Cioclea previously worked for BNP Paribas
Sam Woods to replace Bailey as PRA chief
Bank of England executive director promoted, to take over from Andrew Bailey when he moves to the Financial Conduct Authority
Communist party official and former deputy nominated as Vietnam governor
New prime minister nominates Le Minh Hung shortly after inauguration; national assembly relieves former governor with 87% voting in favour
ECB voices concerns over Hungarian National Bank
ECB expresses concern over recent actions by Hungary’s central bank, including purchase of art, land and Budapest stock exchange; says foundation money must not be used for state financing
People: Shirai begins new chapter at Keio University; Sibley named as Irish director of credit institutions
After five years on the BoJ policy board, Shirai returns to academia; Ireland central bank names new director of credit institutions; and more
RBA establishes new macro modelling division
External review recommends new approach to “full-system” models at heart of policy analysis, warning modelling expertise is limited at the central bank
Ghanaian deputy becomes new governor
One of two deputy governors of the Bank of Ghana takes over top role; Abdul-Nashiru Issahaku joined bank in July 2013 after working for several international agencies
People: Bank of Estonia reappoints deputies; Lagarde wants to reappoint IMF first deputy
Bank of Estonia hands new terms to Ülo Kaasik and Madis Müller; David Lipton in line for reappointment at IMF; Graeme Wheeler to head up BIS Asian Consultative Council; and more
Seychelles central bank will chair new financial stability committee
Advisory body will comprise representatives from four different public bodies and meet on a quarterly basis; supported by new financial stability unit within central bank
Dutch central bank starts retaining €500m yearly as risk provision
The Netherlands Bank plans to retain €3bn of profits in six annual instalments to cover against possible credit and interest rate risk
Norway’s Olsen plans to seek reappointment
Norges Bank governor says he plans to seek a second term, as government launches public application process for position