Central Banks
Flug turns Bank of Israel focus to financial stability
Central bank's 'workplan' for 2014 centres on financial stability reforms; governor tells Knesset that stress tests show banking system is strong, but operating efficiency remains low
Bank of Italy share capital revalued
Italian government revalues central bank’s share capital at €7.5 billion; ECB rebukes finance ministry for jumping the gun
SNB loses $16 billion on gold
The Swiss National Bank expects to report a loss of 10 billion dollars for 2013 as heavy valuation losses on its gold holdings outweigh forex gains and StabFund profits
US Fed heads debate slow growth ‘riddle'
Presidents of four regional reserve banks at odds over whether weak trajectory in wake of the financial crisis is inherently structural or cyclical
Lagarde warns of single currency ‘challenge’ in East Africa
IMF managing director Christine Lagarde tells the East African Community to learn from the genesis of other monetary unions across the globe
Kuroda draws on lessons from Paul Volcker’s Fed tenure
Bank of Japan governor Haruhiko Kuroda points to Paul Volcker’s success in lowering inflation expectations in the United States as proof of central banks' ability to influence markets
IMF urges full recapitalisation of Ugandan central bank
The Bank of Uganda was recapitalised by the government in June 2013, but further capital injections will depend on the central bank's ability to ‘streamline’ operational costs
RBI's Mohanty reviews policy through crisis years
India's central bank joined its counterparts around the world in using unconventional monetary policy to tackle the financial crisis, and the effects of Fed taper
Bank of Estonia staff pay rises will survive budget cuts
Staff members will receive average salary increases of 5% in 2014, even as the central bank strives to cut its budget by €830,000
People: Canada deputy retires; Tucker becomes Sir Paul
John Murray's retirement creates a deputy governor vacancy at the Bank of Canada; former Bank of England deputy Paul Tucker is knighted; and more
Reserve managers continue push into diverse currencies
Latest data from the IMF shows non-traditional reserve currencies continue to see their share of global reserve holdings grow; sterling, yen and the Swiss franc fall in favour
Chilean central bank puts rate cuts on pause
Minutes from the board’s December meeting reveal members were concerned about spooking markets and wanted to buy time to assess earlier easing
Dutch paper finds that bonuses are main cause of distrust in banks
Researchers at Dutch central bank find that banker bonuses have a greater impact on public trust than government intervention, stock prices and media reports
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Bank Indonesia hands supervisory powers and 1,150 staff members to FSA
Shake-up of bank supervision sees micro-prudential responsibilities transferred from the central bank to the financial services authority
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
National Bank of Georgia launches contest to design currency symbol
Former Soviet nation follows Russian example in seeking suggestions for a currency symbol; winning entry to be selected next month by a commission set up for that purpose
Central Banking to resume service on January 2
Central Banking news and alert services are now closed for the festive season
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
RBA bulletin considers CCP resolution
Reserve Bank of Australia quarterly bulletin features an article on the recovery tools and resolution regimes that could be employed when central counterparties suffer losses
Farmer says ‘qualitative easing' should be a permanent tool
The ability of a central bank to alter the composition of the assets it holds is a powerful tool in the fight against unemployment and economic stagnation, and should be kept on hand at all times
John Taylor calls for international policy co-ordination
Paper published today by the BIS says recent unusual monetary policies have been appropriate and benign - and international co-ordination could lead to an international co-operative equilibrium