Central Banks
New governor aims to restore trust in Bank of Korea
Juyeol Lee will seek a ‘rebirth' of the Bank of Korea as a central bank that is ‘trusted by the Korean people'
Central Banking will return on April 22
Central Banking Daily News and the Central Banking Daily Briefing are closed from Friday, April 18, until Tuesday, April 22
Finland's 'deep structural crisis' must be addressed, Liikanen warns
‘Decisive action’ is required to tackle a ‘deep structural crisis’, now that attention has shifted from problems in the eurozone, Liikanen writes in the Bank of Finland's 2013 annual report
Bonnici says Malta's economy weathering European storm
Central Bank of Malta governor says economy has been performing well despite the difficulties posed by eurozone weakness, with a strong banking sector and above-average profit for the central bank
ECB launches programme to prepare Balkan central banks for EU
Macedonian, Albanian, and Kosovar central banks will benefit from a €500,000 programme and EU expertise to help them prepare to one day join the Eurosystem
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors
Kyrgyz governor steps down after three years
Governor announces intention to leave central bank before term is up due to ‘family circumstances’; emphasises success of ‘radical reforms’ in past three years at the helm
Fed paper challenges New Keynesian orthodoxy
Working paper argues sticky prices, which underpin most central banks’ New Keynesian models, can produce implausible results at the zero lower bound, with major implications for policy
South African banks fined $12m over lax money laundering controls
Standard Bank is fined $5.7 million and three other banks given smaller penalties over failure to implement required processes that would prevent customers from laundering money or financing terror
Frontier bonds find buyers as investors reach for yield
Pakistan sells $2 billion worth of Eurobonds as investors look for alternatives to US Treasuries; Greece and Swaziland among countries to find success with bonds in own currency
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report
Hungary central bank buys interbank clearing company Giro
Central Bank of Hungary aims to buy out remaining minority shareholders in the country's provider of interbank settlement services over the next two months
Czech National Bank calls for research on 'priority topics'
Topics include potential improvements to inflation targeting framework and the issues related to euro adoption; Bank of Estonia also launches research award
Deutsche-MAS allegations may go back five years
Monetary Authority of Singapore says it is in touch with Deutsche Bank over its investigation of 'inappropriate' communications, which could be as old as five years
Rosengren calls on FOMC to update forward guidance
Boston Fed president Eric Rosengren – who is not on the FOMC this year – calls for guidance to be increasingly linked to achieving the dual mandate
Irish deputy calls for legislative review as SSM nears
Central Bank of Ireland deputy governor Cyril Roux wants to review the country’s legislation to ensure there are no conflicts with the new SSM regulation
Robert Pringle's Viewpoint: Time for central banks to play politics
Central bankers need to use the breathing space created by their extraordinary policies to lobby for deeper reform
Hong Kong banks' mainland exposure ‘not all hot money' says HKMA deputy
The right way to mitigate Hong Kong banks' exposure to mainland China is through supervising their credit risk and liquidity risk management, says Arthur Yuen
Dutch say US stress tests produced ‘valuable information’
Researchers find the disclosure of stress test results in the wake of the financial crisis had a ‘strong’ effect on credit default swap spreads, but less of an impact on stock returns
RBA’s Debelle sees mixed future for bond markets
Guy Debelle says corporate bond issuance will remain ‘subdued’ in the near term as large Australian companies have ‘accumulated significant cash balances’
Riksbank calls for FMI recovery plans
Sweden’s central bank concerned by the lack of recovery and resolution plans for the country’s financial market infrastructures; calls for changes at individual platforms and in legislation
People: Maldives governor approved; Nigeria deputy starts
Maldives parliament approves president's second choice nomination for governor; new Nigerian deputy takes up his post; Pope appoints adviser to Vatican ‘central bank'
Ukraine hikes rates as fears grow of spiralling inflation
Ukraine is implementing economic reforms in order to win the favour of international donors, but the weakening currency risks sending inflation out of control