Central Banks
Hackers target Riksbank in denial-of-service attack
Attack leaves Swedish central bank website down for five hours with government and parliament websites also hit; follows hacking of Central Bank of the Philippines website
Bank of Greece abandons 9% core capital requirement
Central bank suspends plans to raise core Tier I capital ratio as banks struggle to raise equity and data show contraction in lending continues
Zambia unveils new currency features
The Bank of Zambia reveals images and security features of new, rebased, currency; now comprises six banknotes and four coins
National Bank of Moldova seeks confidence boost with five-year plan
The first strategic plan formed by the National Bank of Moldova aims to improve public perception of the central bank and strengthen the financial system
ECB research finds European retail payment costs about 1% of GDP
Study measures costs of retail payments across a sample of European countries; finds costs of retail payments account for a significant proportion of GDP
Malaysia’s Zeti says Asia must prepare for ‘new global landscape’
Zeti Akhtar Aziz highlights challenges due to the changing world economy following the financial crisis; says Asia is ‘well ahead’ with implementing financial stability policies
Mexican deputy says regulation should not be adopted 'unconditionally'
Manuel Ramos-Francia says regulation should not be adopted without properly considering its impact on growth; could otherwise be harmful in the long run
IMF paper considers monetary union risks
Research published by the IMF compares the trading benefits and stability costs of entering a monetary union; highlights flaws in Emu set-up
ECB paper examines ability of central banks to tackle dual liquidity crises
ECB study investigates how different monetary regimes impact on the ability of central banks to contain dual liquidity crises; finds less interference equates to more action
Liikanen review calls for ring-fencing of banks’ investment arms
Report on reforming structure of EU banking system recommends separating investment arms from retail operations for banks with large trading operations
MAS head Menon outlines corporate governance challenges
Ravi Menon says a ‘culture of cynical greed’ must not be allowed to take root but that strengthening corporate governance should not necessarily involve creating more rules
Reserve Bank of Australia unexpectedly cuts rates
Board of Australian central bank lowers benchmark interest rate following weaker growth outlook as inflation falls further below target rate
New report calls for CCP resolution regime
Centre for the Study of Financial Innovation report recommends resolution regime for 'risky' central counterparty clearings
Bernanke defends Fed’s loose monetary policy
Ben Bernanke says Federal Reserve’s accommodative stance, including a third round of quantitative easing, is justified; denies Fed is encouraging poor fiscal policy-making
Colombian paper probes predictive power of expectations
Central Bank of Colombia study investigates the accuracy of exchange rate expectations during the past nine years; finds discrepancy between short and long term
ECB's Cœuré investigates collateral scarcity
Benoît Cœuré discusses rise in demand for high-quality assets in the eurozone and says changes needed if shift is permanent
BoE review estimates OTC margin requirements could hit $800bn
Bank of England review models the effect of OTC reforms on margin requirements; anticipates slow adaptation
Relative riskiness of alternative reserve assets falls, say CBP panellists
Negative real yields and credit concerns about some G7 currencies make alternative investments more attractive to reserve managers compared with five years ago, say CBP webinar panellists; role of gold challenged
Bank of Uganda rejects legal challenge over NBC seizure
Ugandan central bank questions the legitimacy of court order blocking its takeover of a commercial bank and the subsequent sales of its assets
European Commission criticises Basel Committee findings
Assessment report finds EU and US ‘materially non-compliant’ with some areas of Basel framework; European Commission questions report’s methodology and use of evidence
Former ECB board members say OMTs are outside central bank’s mandate
Otmar Issing and Jürgen Stark both criticise ECB bond purchase plans in separate interviews; Issing calls political union a ‘dangerous idea’
Uribe given third and final term as Colombian governor
José Darío Uribe is reappointed by the Board of the Central Bank of Colombia for a third term as governor; will retire from the post in 2017