Governance
Lithuanians pick World Bank to manage portion of assets
Lithuania’s central bank awards its first external asset management contract to the World Bank in policy shift that paves way for ‘bigger reliance’ on corporate bonds and global equities
Fed comes under renewed fire as governance structure challenged
An under-staffed board, embarrassing leaks and outspoken regional presidents pose challenges to the Fed as it seeks to exit loose monetary policies. Is it a good time to review its governance structure?
Academic takes over at Bosnian central bank
The governing board of Bosnia’s central bank chose board member and economist Senad Softić to serve as the new governor
People: Board changes at PRA; Rodriguez to lead Fed’s ‘faster payments’
Four new board directors to start at PRA, Fed gives Sean Rodriguez lead role for ‘faster payments’, CNB names new head of communications and more.
MAS enlists financial leaders to 'co-create' industry policies
Advisory panel comprising 26 industry leaders will provide "insights and experience" to central bank efforts aimed at making Singapore's financial sector more competitive
Gertjan Vlieghe to replace Miles on BoE monetary policy committee
Economist used to be assistant to Mervyn King and is now partner at an asset manager; previous research has focused on conducting monetary policy in the presence of imperfect credit markets
Ireland invites applications for central bank governorship
Ministry of finance calls for ‘expressions of interest’ in the post, which will be vacated by Patrick Honohan when he stands down later this year
UK government launches plan to improve BoE governance
Bank of England Bill proposes changes to committee structure, adjustments to the Court, establishing new roles and axing old ones, and audits to assess value for money
Obama nominates Michigan professor to Fed board of governors
Obama picks Kathryn Dominguez, a top academic from the University of Michigan, to fill the second of two vacancies on the board of governors
Hungarian deputy quits to head commercial bank
Ádám Balog will leave his post on July 22 to become chair and CEO of MKB Bank; joined central bank in March 2013 alongside governor György Matolcsy
Obstfeld will succeed Blanchard at IMF
Lagarde praises the ‘outstanding academic credentials’ of Obstfeld as she announces his appointment as economic counsellor and director of research
Martin Wheatley resigns as FCA chief executive
FCA chief quits after it emerges the UK chancellor will not be renewing his term next year; worldwide search begins for successor
People: Trinidad gets new deputy, Bulgaria nominates three
Academic Sandra Sookram joins the Central Bank of Trinidad and Tobago; Dimitar Radev nominates three deputy governors on his first day leading the Bulgarian National Bank; and more
Bulgaria names Dimitar Radev central bank governor
Parliament appoints former IMF economist Dimitar Radev as governor of the Bulgarian National Bank, bringing to an end Ivan Iskrov’s 12-year reign
Former Afghan governor returns for second term
Khalilullah Sediq takes over for a second time as governor of the Bank of Afghanistan, following a spell in the private sector
BoE launches year-long artist collaboration
Martin John Callanan to work with BoE for a year to produce works reflecting central banking, in what Mark Carney hopes will be a creative way of communicating
People: Madigan returns to Fed board; FCA appoints retail supervisory head
Brian Madigan returns to the Federal Reserve Board as FOMC secretary; Financial Conduct Authority names Jonathan Davidson director of supervision, retail and authorisations; and more
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
RBNZ to cut costs despite need to implement major new projects
Central bank plans to cut costs and use resources more effectively following tighter funding deal; strategy includes payment systems upgrade, new banknote series and first stress tests
Bulgarian governor wants quick successor appointment to hasten his exit
Ivan Iskrov calls on parliament to elect a successor before the end of his term in October, bringing an end to a turbulent period in charge
People: Njoroge approved as new Kenyan governor; Tajikistan appoints new deputies
Kenyan parliament approves Patrick Njoroge for central bank governorship; president of Tajikistan appoints new central bank board; Sanusi Lamido Sanusi joins Black Rhino; and more
BoE launches ‘Bank Underground’ research blog
Blog provides platform for researchers to voice more controversial ideas; comes alongside rebranded staff working papers, written with ‘hands off’ approach from senior managers
Bank of Japan to shake up meeting framework
BoJ board plans to cut number of yearly meetings as part of major overhaul of deliberations aimed at making monetary policy more transparent
Bank Indonesia appoints deputy following rates hold
Head of financial surveillance Erwin Riyanto replaces Halim Alamsyah on board of governors as central bank warns of renewed capital flight