Central Banking
People: UK’s FCA makes three new appointments
FCA reshuffles board; senior Bank of Spain official joins Single Resolution Board
RBNZ governor: lawmakers must help preserve cash access
New Zealand governor says industry and politicians must respond to the rise of “less cash” society
Brazil to launch instant payments platform
System is set to become operational in November 2020 and will allow tax payments
Podcast: Bank of Finland’s Aleksi Grym on a 1990s’ digital currency
Avant was launched to establish a new payments network but failed due to competition from ATMs
International investors shaping housing markets – DNB paper
External investment playing larger role but national differences still significant, paper says
ECB paper presents new model for ‘fire sale’ contagion
Agent-based model shows asset managers spreading contagion during larger liquidity shocks
BIS appoints heads of Switzerland and Singapore tech hubs
Cœuré says BIS’s Hong Kong hub will have head “in due course”
Weak eurozone banks hindered monetary policy – Bundesbank paper
“High-risk” banks failed to increase loan spreads despite ECB liquidity injection, researchers say
IMF staff say Argentina’s debt is unsustainable
Report calls for haircut for private creditors as Argentine government demands IMF debt forgiveness
FOMC discusses communication ‘escape clauses’
Fed might need “leeway” to deal with financial instability, some FOMC members say
Bank of England launches new £20 banknote
BoE says the new polymer note is the “most secure” it has issued
Many new UK financial products lack consumer protections – FCA
E-money services are not covered by financial services compensation scheme, UK regulator says
Economist joins Bank of Japan’s rate-setters
BoJ board member in favour of continued QE but has expressed doubts on negative rates
Bank of Russia to sell controlling stake in country’s biggest lender
Central bank will sell stake in Sberbank to finance ministry and is likely to pass most profits to state
Bank of Canada to take over calculation of reference rate
New methodology will make Corra more “robust, reliable and representative”, central bank says
Turkish central bank keeps cutting rates despite higher inflation
Cut brings Turkish real rates into negative territory as currency renews slide against dollar
Authorities in Bahamas and Colombia sign supervision agreement
Bahamas central bank and Colombian regulator will share information on financial firms
Global property investors may undermine macro-pru – CGFS
House prices are rising and increasingly synchronised, BIS committee says
Bank of Korea stops handling overseas cash as coronavirus spreads
Central bank says it will not accept cash from abroad until further notice
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
Zimbabwean central bank optimistic but currency falls
Central bank fails to say whether debt repayments will be in US dollars or how long they will take
NY Fed speeds up repo withdrawal
US banks’ demand for cash remains high as NY Fed’s first term repo is oversubscribed
People: Bank of Israel appoints monetary committee member
Michel Strawczynski joins Bank of Israel six-member body; World Bank has a new managing director of development policy and partnerships; South African Mint appoints new managing director
BoE’s Taylor argues for solution to IFRS 9 ‘headache’
Loss provisioning rules could worsen downturns and present issues for stress-testing, official says