World Bank
Davos experts weigh risks of future crisis
High debt levels, a rise in real interest rates and China are on the agenda for the panellists, who believe another financial crisis is inevitable
Bank Negara buys land to create ‘financial education hub’
The land is intended for institutions promoting research into Islamic finance
Stifling cross-border banking hurts developing countries – World Bank
World Bank offers advice on successful cross-border banking but warns developing countries against over-reliance
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
Renminbi ‘crucial’ for reserve managers – Isabelle Strauss-Kahn
Central banks must consider how Chinese currency fits into reserves - World Bank expert
Archive – Interview: Allan Meltzer
Robert Pringle talks to Allan Meltzer, Carnegie Mellon professor and chair of the US Congress’s International Financial Institution Advisory Commission (the “Meltzer Commission”); first published in February 2003
Global institutions strike Mongolia bailout deal
Institutions including the IMF, World Bank and People’s Bank of China strike a deal to provide funding and other support to the slumping economy
Technology driving inequality in advanced economies – IMF
Technology plays “dominant role” in explaining falling labour share of income in advanced economies, study finds; globalisation more important for emerging markets
SBP to work with World Bank on supervisory framework
Deal will see World Bank provide technical assistance on a range of projects as it extends its paid-for advisory services into south Asia
More than AML fears driving correspondent banks away from Arab economies – report
AMF-IMF-World Bank survey of banks in Arab nations finds a broader de-risking to be behind pull-back of correspondent banking, though trend is uneven
PBoC gives World Bank green light as China’s first SDR bond issuer
World Bank to issue China’s first bond denominated in special drawing rights, in “landmark” step towards opening up Chinese bond market
People: Mongolia gets new first deputy; BIS names Financial Stability Institute chair
Erdembileg Ochirkhuu joins Bank of Mongolia as first deputy shortly after new governor takes office; Fernando Restoy to chair Basel-based body; World Bank names new chief economist; and more
Somalian central bank gains support from IMF and World Bank
Central Bank of Somalia is backed by international financial institutions in its efforts to upgrade its technical capacities, and improve supervision of its banks and money-transfer businesses
Room for monetary policy stimulus has ‘narrowed’ in many EMs, World Bank report warns
Little room left to use monetary or fiscal stimulus in event of growth shock in some countries, report says, pointing to role for structural reform
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
CPMI and World Bank say transaction accounts are key to financial inclusion
Joint CPMI-World Bank report stresses importance of transaction accounts in promoting financial inclusion, and offers policy advice for countries looking to improve access to financial services
Jin Liqun aims for ‘strong culture’ at AIIB as he is named president-elect
Asian Infrastructure Investment Bank set to be launched before the end of 2015; head of interim secretariat Jin Liqun selected as ‘president-designate’ at meeting in Tbilisi, Georgia
Zeti stresses need for good data in promoting financial inclusion
Bank Negara Malaysia governor says better data helps put pressure on countries to improve financial inclusion; offers guidance on how to improve performance
Lithuanians pick World Bank to manage portion of assets
Lithuania’s central bank awards its first external asset management contract to the World Bank in policy shift that paves way for ‘bigger reliance’ on corporate bonds and global equities
World Bank plans to put 'de-risking' on the global agenda
Banks are reportedly shutting down the accounts of customers in 'high-risk' category; the World Bank has begun work on the problem
Central banks have 'track record' to manage new African SWFs, says World Bank expert
Ekaterina Gratcheva argued at a forum in Basel this weekend that central banks' institutional history makes them suitable managers for sovereign wealth funds
Kyrgyz central bank partners with World Bank to deliver payments upgrade
The Kyrgyz Republic has seen rapid growth in card payments in recent years, which the central bank fears could create instability if the oversight and operation of payment systems is not improved
Fed taper could hit African sovereign credits hard, World Bank warns
Cross-continent trade agreement could help provide bigger markets and greater efficiencies, but African economies face tough times ahead with borrowing costs set to rise
Chinese policy-makers offer olive branch on regional development
Jin Liqun and Zhu Guangyao say they will work with Bretton Woods institutions as the new infrastructure and development banks look to generate infrastructure investment in region