Governance
People: Finland names new head of statistics; RBI appoints executive director
Bank of Finland promotes head of macro-prudential analysis division to head of financial stability and statistics department; RBI gets new executive director; and more
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
BoE’s Bailey stresses need for true understanding on boards
Andrew Bailey says executive board members should be responsible for explaining complex matters in simple terms, rather than leaving non-executives to figure it out for themselves
Kazakhstan governor replaced with former deputy
President removes Kairat Kelimbetov from office citing lack of confidence in central bank and falling currency; names former deputy Daniyar Akishev as succesor
Mandate change proposal would be unconstitutional, Polish governor says
Bank governor says giving the central bank a growth mandate would not be permissible under EU law; senior figures in governing party call for monetary easing programme
Central Bank of Barbados continues digital drive
Central bank publishes its economic review in video format as part of an ongoing digital drive; governor DeLisle Worrell is driving force behind digitisation
Bernanke offers insight into Fed’s political balancing act
Former Fed chair tells of navigating both political and economic pitfalls in crisis response, and says the US central bank’s independence is still under threat
Hungarian central bank to bid for country’s stock exchange
Hungary’s central bank is in talks with Austrian banks to buy a majority shareholding in the country’s stock exchange
Egyptian governor to resign early with former deputy waiting in wings
Hisham Ramez, governor of Egypt’s central bank, announces early resignation; successor urged by country’s President to ensure citizens have access to ‘basic goods’ after subsidy cuts
Lane picked to lead Irish central bank
Distinguished international economist nominated in preference to civil service candidate rumoured to have been in the running; worked ‘closely’ with outgoing governor Honohan
Carney treads carefully amid potential threats to BoE independence
Governor expresses concern over the National Audit Office's role in the new Bank of England Bill, but dismisses fears he is harming free debate by chairing too many committees
Bullard offers alternatives to cutting reserve bank dividend
St Louis Fed president takes issue with congressional proposal to cut dividend paid to largest banks; suggests tying amount paid to benchmark rate instead or eliminating it completely
Polish governor criticises five presidents’ report
Marek Belka says proposals contain ‘some good ideas’ but are ’timid and vague’ about what should be done in the longer-term; speaks alongside Ewald Nowotny at Warsaw conference
ECB appoints Michael Diemer as first chief services officer
The European Central Bank has created a new post of chief services officer to co-ordinate all administrative, IT and human resources issues
Kenyan and Ugandan central banks act over troubled bank
Central Bank of Kenya places Imperial Bank under new management after being notified of ‘unsafe and unsound’ conditions; Bank of Uganda moves on local subsidiary
Ex-Albanian governor acquitted of ‘abuse of office’
Former Albanian central bank governor Ardian Fullani found innocent of ‘abuse of office’; left role in 2014 after parliamentary vote
BoE’s new MPC member grilled on financial assets
Treasury Committee questions Gertjan Vlieghe on real or perceived conflict of interest; Ian McCafferty justifies view on rate hike in reappointment hearing
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
ECB publishes principles to avoid market-moving missteps
‘Guiding principles’ for communications by executive board members seek to prevent select groups gaining a commercial advantage from appearances
Economists push IMF reforms back into spotlight
Indian economists make case for ‘more radical’ review of resource and representation in the future; Nordic and Baltic countries press for ‘interim steps’ towards delayed 2010 reforms
Irish central bank proposes staggered rise in financial industry levy
Ireland’s central bank has proposed staggering a rise in the levy to cover financial regulation costs; still supports rise in proportion of costs paid by non-bank institutions
Trichet says banks must keep ‘hammering’ at their culture
Progress towards improving culture and behaviour at banks is uneven, and the G30 is calling on the laggards to catch up; Central Banking asked members what still needs to be done
Irish central bank may spread higher levy on finance industry over time
The Central Bank of Ireland may spread the proposed increase in its annual levy on the financial industry over several years, but it still backs the call for non-banks to meet 100% of costs
People: FCA names COO; RBA shuffles assistant governors
Financial Conduct Authority announces Georgina Philippou as COO; Michele Bullock named assistant governor for business services in Australia; and more