Governance
Ghana governor steps down four months early
Bank of Ghana governor has stepped down over four months early; retirement date due to “long outstanding leave days”, central bank says
Hungarian constitutional court strikes down central bank law
Hungary’s two highest courts rule that a law limiting the disclosure of information on central bank assets is unlawful and unconstitutional
People: Bank Negara reappoints deputy; State Bank of Pakistan revamps board
Sukudhew Singh will serve another three years as deputy; Pakistan appoints new board members
Chinese and Czech central bank enlarge MoU to include crisis management
Czech National Bank and China’s banking regulator have deepened their existing memorandum of understanding to include working together on crisis-hit banks, Czech governor says
IMF urges Mauritius to form macro-prudential authority
Central bank would have “prominent” role in new authority; as a first step, IMF staff recommend establishing a technical group featuring representatives from multiple stakeholders
People: Georgian board approves new governor; T&T gets new board
Koba Gvenetadze clears penultimate hurdle to becoming National Bank of Georgia governor; six new directors join the Central Bank of Trinidad and Tobago; BIS names Alexandre Lamfalussy fellow
Bank of Israel establishes banking innovation division
New section of banking supervision department formed to help foster innovation but contain the accompanying risks; Dudi Bavli chosen to head division
Equities support Danish central bank's profits in 2015
Move into riskier assets contributes to profits in 2015, in addition to significant returns from defending the krone; costs are also on the rise following major IT project
Bangladesh governor resigns over theft
Atiur Rahman has resigned after $101 million was stolen from the central bank’s account at the New York Fed; finance minister announces Fazle Kabir as successor
Zeti stresses need to protect independence when central banks get broad mandates
Central banks in emerging economies often find themselves tackling difficult reforms as they are best equipped for the challenge, she says, but this can only work if certain conditions hold
Zeti stresses need for Asean ‘partnerships’
Malaysia governor outlines four foundations anchoring successful partnerships; trust is crucial, she says, but must be accompanied by accountability
RBNZ’s Gordon offers advice on building a sound risk management system
Former risk head at RBNZ offers advice on what should be the focus for central banks looking to build an enterprise risk management system
President refuses to sign Hungary central bank law
Hungary’s president has referred a law on the governance of the country’s central bank to the constitutional court; critics allege law would greatly reduce scrutiny of central bank’s funds
Norges Bank organisational changes geared towards better investment
Revamp of organisational structure is mainly focused on improving the governance of the sovereign wealth fund, which delivered a return of 2.7% despite turbulence last year, annual report reveals
Bank of Portugal director responsible for banking supervision resigns
Board member with responsibility for banking supervision resigned on March 7; Antonio Varela had previously been state-appointed non-executive director on troubled bank Banif
People: New York Fed research head retires, RBNZ appoints new head of currency
James McAndrews will leave the Federal Reserve Bank of New York after 19 years; Steve Gordon gets new portfolio at RBNZ; and more
Angola appoints new governor as de Morais departs
Silva takes over from de Morais as part of a government reshuffle; has previously provided counsel to country’s vice-president
People: Georgian central bank nears new governor, RBI appoints executive director
Georgian parliament approves president’s nominee for governorship, now central bank board must do the same; Kanungo becomes newest executive director of the RBI; and more