Central Banks
Hélène Rey warns advanced economies are not safe from US spillovers
Leading economist says spillovers from US monetary policy affect both advanced economies and emerging markets, weakening domestic policy; NY Fed's Bill Dudley responds
BlackRock chairman warns Carney over low rate environment
Laurence Fink tells senior central bankers at Banque de France symposium that private institutions could ‘refuse to lend’ if rates remain low; Carney questions claim
FSB sees flaws in OTC derivatives reforms
Despite greater clarity emerging from the range of regulatory initiatives, there are still considerable differences in implementation between jurisdictions
Malaysian deputy says Islamic banking has inclusion role to play
Muhammad bin Ibrahim highlights potential of Islamic banking products to improve financial inclusion, by channelling funds directly to small businesses
Kyrgyz Republic marshals journalists in financial literacy push
National Bank spokeswoman says central bank is taking the lead with broad communication strategy while government finalises plans; journalists seen as ‘effective information transfer tool’
ECB publishes letters between Trichet and Irish government
Letters relate to the period leading up to Ireland’s decision to enter an EU/IMF programme; ECB threatened to withhold access to ELA unless Ireland sought a bailout
UK launches probe into banking sector competition
Investigation will assess whether retail banking market is too concentrated, with barriers to entry and opacity under scrutiny
Central Bank of Kuwait highlights improving banking sector health
Banking sector saw improvements on ‘almost all fronts’ as Islamic banking continued to rise, according to annual financial stability report; income and return on equity see drop
Draghi dismisses reports of ECB rift
ECB president says it is ‘fairly normal to disagree about things’ and points to divisions on FOMC; earlier reports had raised questions over Draghi’s leadership style
ECB staff told to prepare for further measures
ECB keeps monetary policy stance unchanged; governing council tells staff to ensure the ‘timely preparation' of unspecified 'further measures’ to be implemented ‘if needed’
MAS chief sees SWFs struggling with secular stagnation
Ravi Menon urges sovereign wealth funds to move beyond traditional asset classes to tackle diminishing returns
BoJ team surveys payment innovation landscape
Central bank lays ground for retail payments innovation in Japan with survey of what has been tried elsewhere; highlights different forces driving change in each country
Kocherlakota wants FOMC to stress target symmetry
Minneapolis Fed president wants FOMC to clarify inflation objective; also calls for adoption of benchmark two-year time horizon for returning inflation to target
Poland bucks expectations and EU trend with rate hold
National Bank of Poland holds key rate at 2.5% despite widespread expectations of a cut, stoked in part by the National Bank of Romania's easing policy yesterday
Ingves: Consistent implementation needed to bring about ‘full benefits' of Basel III
Basel Committee chair says regulators and supervisors now 'accountable for the outcomes' of Basel III as reform agenda draws to a close
MAS deputy charts path toward new financial products
Jacqueline Loh believes greater integration within and across Asia’s capital markets could pave the way for new financial products, including through securitisation
Bank of Russia caps daily forex interventions
The value of the ruble ‘will be determined predominantly by market factors' as of today, central bank says; former central banker describes move as a 'very big deal'
Kuroda affirms determination to ‘drastically convert’ Japan’s deflationary mindset
BoJ governor stresses commitment to continue with drastic policy measures until the ‘chronic disease of deflation’ is eradicated, in first speech since quantitative easing was ramped up
Tonga central bank appeals to public for new logo
National Reserve Bank of Tonga launches a competition asking the public to design it a new logo; suggests it should reflect its values of integrity, innovation, team work and excellence
People: Thomsen named head of IMF’s European department; Former deputy finance minister joins CNB
Poul Thomsen gets post on full-time basis after leading Fund’s programmes in Greece and Portugal; Radek Urban heads resolution department at Czech National Bank; and more
Georghadji sees ‘turning point’ for Cyprus banking sector
Central bank of Cyprus governor says the outlook for the country’s banks is ‘very positive’, but warns against a return to the sector’s previous lending practices
ECB unveils new website as SSM launches
Central bank launches new website dedicated to banking supervision, which features responsive design techniques to support viewing across desktops, tablets and smartphones