Governance
Mark Carney takes over two BIS chairmanships
Bank of England governor adds two further chair positions to his several existing roles, taking over from Agustín Carstens
Dispelling the German monetary myth
Economic historian Simon Mee finds the famous German aversion to inflation was the product of political battles in the mid-twentieth century
Stanley Fischer announces October resignation from Fed
Vice-chair to step down in October “for personal reasons”, eight months before scheduled
Oman’s sultan replaces governor and restructures board
Second-longest serving governor leaves as oil prices put economy under pressure
Book notes: Advice & Dissent: My Life in Public Service, by YV Reddy
An engaging look into the private life and career of a former governor of the Reserve Bank of India, and arguably one of the best central bankers of the twentieth century, YV Reddy
Vietnamese government criticises central bank
Anti-corruption agency denounces inadequate banking supervision
Bank of England strikes deal to end pay dispute
Deal follows three days of industrial action and heads off a threat of more to come; union will play larger role in future pay negotiations
Tromp ejected from central bank by board
Curaçao and Sint Maarten governor returns to work only to be denied access; Emsley Tromp continues to be involved in legal proceedings
People: RBNZ continues reshuffle; Fed appoints payments leader
Mills to fill Bascand’s shoes at RBNZ as assistant governor moves to financial stability; St Louis Fed vice-president to initiate faster payments project for the US central bank; and more
Maldives president appoints new governor in defiance of parliament
Nominated governor needs parliamentary approval but troops stop lawmakers from meeting
ECB criticises government of Cyprus over new central banking legislation
Collection of information on individual debtors is a “government task”, ECB says
People: Trio of deputies appointed at Sri Lankan, Korean and Bahaman central banks
Veteran central bankers appointed at Sri Lankan and Korean institutions; Bank of Bahamas also gets new second in command
Book notes: The Myth of Independence, by Sarah Binder and Mark Spindel
Politicians would do well to heed the authors’ lessons, but their economic analysis could be stronger, writes Niels Bünemann
Banks are scrambling to hit IFRS 9 deadline – survey
Many banks appear to have been caught off-guard by the complexity of adapting to IFRS 9; impact assessments still patchy, but some see provisioning needs up by 40% or more
Allan Meltzer (1928–2017)
Paying tribute to the contributions of the late Allan Meltzer, leading economist and Central Banking Editorial Advisory Board member
Maldives’ governor resigns as country remains in crisis
Governor says she is stepping down to join her husband in New York; country’s parliament is shut down amid political crisis
People: New chairman in Macau; Bosnia appoints vice-governor
Chan Sau San to lead Macau’s monetary authority; Bosnia appoints vice-governor; Nathan Sussman leaves the Bank of Israel after six years as head of research
Court dismisses ‘irrational’ Sarb mandate challenge
Judge finds South African public protector’s attempt to change the Sarb’s mandate was illegal, irrational and unfair
People: Ma Jun departs PBoC; Brazil promotes directors
Chief economist of the PBoC departs central bank for academia; Central Bank of Brazil gets new directors; Andrew Abir to sit on the Bank of Israel’s monetary committee