Central Banking
El Salvador central bank chief quits after five months
President asked Carlos Federico Paredes to step down due to ongoing accusations of real estate scam
Indonesia’s central bank pledges major infrastructure changes
Five-year plan aims to upgrade payments infrastructure and boost inclusion rates
Chile launches biggest forex intervention in 20 years
Chilean peso has fallen by 14% against dollar since mid-October amid massive street protests
IMF approves new credit line for Mexico as fiscal outlook darkens
Central bank’s success in reducing inflation may be compromised by fiscal weakness
Will the ECB make climate change a policy goal?
Weidmann declared strong opposition to “green QE” as climate groups call on Lagarde to shift policy
Kansas Fed paper looks at weak US fraud controls
US has much higher ‘in-person fraud’ rates than three other developed economies, researcher says
Enria proposes more change for eurozone stress tests
New framework would include macro view, but will not be ready until 2022, says chief ECB supervisor
Turkish president calls for further rate cuts
President Erdogan dismissed previous central bank governor in March over failure to cut policy rates
Canada’s fiscal stimulus worth 100bp of rate cuts – Poloz
Infrastructure investment has also helped to reduce financial vulnerabilities
China should bolster macro-pru framework – IMF paper
Lack of accurate credit information weakens macro-prudential measures, researchers say
Fed points to non-financial risks at large US banks
US-based G-Sibs show weaknesses in AML, internal audit and IT risk, Fed says
People: Governors reappointed; Fed gets new CIO
Reappointments in Egypt and Palestine; Fed picks chief information officer; new financial stability head in Iceland
Climate prudential policies could ‘backfire’, IMF economists warn
Lack of international standards could result in ‘greenwashing’ and increased financial stability risks, economists warn
Ukrainian central bank accuses oligarch of intimidation campaign
Ihor Kolomoisky is behind “slanders” and violence “by hired thugs” over bank nationalisation, says NBU
US banks show signs of year-end funding concerns
Banks demanded nearly twice the amount of cash on offer in NY Fed’s new term repo
Brazil sells dollars as real falls to record low
Currency has fallen by 11.3% against dollar since July, as central bank cut interest rates by 150bp to new low of 5%
HKMA calls for innovation in fight against money laundering
The authority flags new and emerging risks in the city’s AML/CFT regime, urging stakeholders to collaborate and innovate
Fed’s Brainard calls for major framework overhaul
Yield curve caps, flexible inflation targeting and more active macro-prudential policy could help, governor says; Fed may have mistimed 2015 hiking cycle
‘Sectoral’ counter-cyclical buffer could boost resilience, says Basel Committee
Targeted tool would have a narrower impact on segments of the market
‘More effort’ needed to protect financial stability – RBNZ’s Orr
Central bank determined to raise capital requirements and improve behaviour in finance
Cœuré flags risks to ‘autonomy and resilience’ of European payments
Central banks need to resist payment market fragmentation, says ECB official; Banque de France’s Beau calls for experimentation with wholesale CBDC
Greek cash limits should be scrapped, ECB argues
ECB says some caps are illegal and calls on competent authorities to decide on cash payment rules
De La Rue faces uncertain future as profits collapse
Profits plummet 87% as firm scrambles to cut costs
Home-ownership affected by culture, Bundesbank paper finds
Researchers find strong variation in home-owning by different US immigrant groups