Central Banks
Gono steps down as Zimbabwe government takes on Reserve Bank debts
Reserve Bank governor survived political upheaval to fulfil two five-year terms at the head of the central bank; final act was to see the bank relieved of its crippling debts by the government
Design of Norwegian banknotes charts new waters
Norges Bank reveals upcoming banknote series will share a maritime theme, reflecting the country's 83,000km coastline; notes will not feature human portraiture
Central Bank of Ireland head supervisor quits
Fiona Muldoon resigns as director of credit institutions and insurance supervision, forcing the central bank to replace three senior staff members in quick succession
Sveriges Riksbank calls for higher risk weights on mortgages
Central bank's latest financial stability report supports regulatory proposal to raise minimum amount of capital banks must back up housing loans with from 15 to 25%
Maltese governor says ECB’s policy will ‘take a while’ to hit periphery
Josef Bonnici attributes the drop in loans to the private sector in the eurozone’s stressed countries to the ‘weak and uneven’ monetary policy transmission mechanism
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
Eurozone household debt varies based on institutions, paper finds
Repossession periods are the strongest single determinant of the distribution of secured debt in different member states of the eurozone, with fewer borrowers where repossession periods are longer
Taiwan allows Chinese issuers in offshore RMB bond market
So-called Bao Dao bonds are expected to find a ready market eager for yield; offshore RMB bond market in Taiwan has seen just six issuances so far this year
Central Bank of Ireland staff face longer working hours
The central bank is in negotiations with a workers’ union over government proposals that would impose 37-hour working weeks on the majority of staff; tribunal makes final recommendations
BoJ will need ‘aggressive' re-capitalisation at end of QQE, top economist warns
Nomura chief economist warns the practice of handing over the profits from QE to the Japanese government means the central bank could find itself under-capitalised when the programme ends
BoE's Carney: liquidity support for CCPs is a 'last-resort option'
Bank of England governor insists clearing houses must have enough liquidity to cope with the default of two big member firms
Shariah principles will engender financial stability, says Zeti
Bank Negara Malaysia governor Zeti says Shariah principles, if properly adhered to, will help Islamic finance make a positive contribution towards overall financial stability
ECB paper says global economy still haunted by ‘spectre of protectionism’
Researchers at the European Central Bank find evidence that countries still regress to trade protectionism in the face of recessions or loss of competitiveness; call for international peer pressure
Mersch defends ECB’s Chinese walls
European Central Bank executive board member Yves Mersch says plans to keep monetary and supervisory functions separate will ensure any ‘conflicts of interest’ are avoided
Swiss paper dissects asset price responses to economic news
Researchers find the relationship between asset prices and economic news is shaped by the prevailing economic conditions – including policy rates and perception of risk
Irish governor backs domestic and export banking separation
Patrick Honohan says that, by keeping the export and domestic banking sectors separate in small countries, authorities can avoid having to put a cap on the size of banks’ balance sheets
Somalia turns to former governor to take the reins again
Bashir Issa Ali will fill the governor vacancy at the Central Bank of Somalia, created when Yussur Abrar quit the bank and the country amid corruption controversies
New Zealand payment systems under review
Reserve Bank of New Zealand announces review of its two large-value settlement systems; expects to sanction ‘significant upgrades’ to both within the next four years