Governance
Deutsche Bundesbank’s losing struggle in European integration battle
The Deutsche Bundesbank was once the cornerstone of European monetary stability but has become little more than a bargaining chip for politicians negotiating European integration.
Central banks need to define clear role for operational risk
Despite crossing management and business lines, operational risk must be defined within the wider risk management framework at central banks. By Rudy Wytenburg.
State Bank of Vietnam needs a single mandate not independence
Lessons from South Korea, Japan and the US indicate a single mandate would benefit the State Bank of Vietnam more than an IMF call for legal independence.
Solid financial accounts can help central banks meet their mandates – CBP roundtable
The manner that central banks manage and present their financial accounts is becoming critical to them achieving their mandates, according to a CBP working group.
Abe picks Kuroda to head Bank of Japan
Haruhiko Kuroda nominated next governor of the Bank of Japan; markets respond positively but commentators warn Kuroda’s dovish stance could amount to debt monetisation
People: State Bank of Pakistan’s board overhauled; RBI deputy’s term extended
State Bank of Pakistan receives five new directors; Reserve Bank of India deputy responsible for banking operations extends stay; and more
Central bank independence: more myth than reality?
Crisis responses are placing a heavy burden on many central banks. But there is no evidence showing that legally independent central banks have a better track record in monetary policy
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
Bank Indonesia governor nominee proves divisive choice
Government chooses Agus Martowardojo to replace Darmin Nasution as governor, but MPs question Agus’ integrity and macro-economic knowledge
ECB’s Asmussen warns G-20 works poorly until disaster looms
Executive board member highlights G-20’s fatal flaw – it only works well during crises, and therefore struggles to prevent them; calls for reforms to strengthen the group
Hungarian police confirm investigation of 'unknown person' linked with central bank allegations
Hungarian police launch malfeasance investigation into an individual believed to work at the National Bank of Hungary; governor András Simor is 'unlikely' to be the target
Bank of Canada names new deputy governor
New deputy appointed as governor Carney and senior deputy governor Macklem unveil re-shuffle of responsibilities
Eastern Caribbean Central Bank sued over 'brazen act of thievery'
ECCB in the dock over management of failed bank; investors claim they should be compensated for loss arising from fraudulent ownership
Hungarian central bank may face police investigation
Reported police investigation follows State Audit Office allegations of unlawful behaviour at the central bank, including passing 'secrets' to the IMF
Zhou Xiaochuan to stay on as governor of PBoC, says Reuters
China’s top central banker and renminbi reformer Zhou Xiaochuan may not step down from his post as previously expected, according to a news agency report
People: NZ names new currency head, Fischer shuffles Israeli appointment committee
Reserve Bank of New Zealand hires retail banking expert as new head of currency; Bank of Israel and Richmond Fed name new members to key advisory groups
Hungarian central bank accused of illegal data transfer
Rift between National Bank of Hungary and the State Audit Office widens amid accusations of ‘unlawful' communication with the IMF and poor management of banknote company
People: New deputies for New Zealand and Ukraine central banks
Reserve Bank of New Zealand hires top statistician as deputy governor; National Bank of Ukraine continues leadership team shake-up
People: Shirakawa to step down early; Cyprus creates new post of deputy governor
BoJ governor to leave his post ahead of end of term; Cyprus creates deputy governor post to help conform with Troika demands; and more
Reserve Bank of Zimbabwe backs mandatory bank takeovers
Governor Gideon Gono says foreign banks must observe ‘indigenisation' laws, which force them to hand majority ownership to local people; foreign direct investment flight continues
Riksbank at odds with proposals to limit capital, analysts say
Proposals released that would halve the size of the Riksbank’s balance sheet; analysts say they clash with central bank policy and are unlikely to be adopted
Stanley Fischer hints at successor as candidates emerge
Fischer says Bank of Israel deputy governor Karnit Flug was chosen on the basis she would be able to ‘function as governor’ when necessary; other potential candidates speak to CentralBanking.com
The contenders to succeed Zhou as governor at PBoC
China is set to name the successor to Zhou Xiaochuan as governor of the country's central bank, according to a Central Banking Journal article that weighs up the chances of the leading candidates