Accounts
Erdoğan tightens grip on central bank with sweeping decree
President amends central bank law to hand himself key powers over institution’s governance
BoE capital injection lays ground for stronger crisis response
Higher risk-bearing capacity allows additional emergency measures, Mark Carney says; move could bring forward BoE’s exit from QE
BoE’s profits dip on higher banknote and research expenditure
But total expenditure comes in below budget due to lower headcount than expected
Central banks need a consistent approach to accounting for monetary gold
Kenneth Sullivan presents a case study highlighting the challenges for central banks in consistently accounting for monetary gold
No reason for public to have central bank accounts – Cœuré
ECB executive board member sees no current need for central bank digital currency, but says it could act as an alternative to cash in future
BoE profits exceed target, but pay squeeze continues
Senior staff to receive below-inflation pay rises, though income and costs both “favourable”
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power
The Bank of Italy’s approach to risk-based budgeting
The financial crisis blurred the lines between Anglo-Saxon and continental European central bank models, presenting challenges when treating both the sources of risk and risk-bearing capacity using financial and accounting budgeting techniques
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
UK regulators count cost of Brexit work
PRA and FCA devote additional resources to handling UK’s withdrawal from EU
Fed profits shrink as interest expenses bite
The Fed’s profits in 2017 were more than $10 billion smaller than a year earlier, as the effects of interest rate hikes begin to show
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
Norwegian sovereign wealth fund says 2017 saw third-highest annual returns
NBIM says returns from holdings in oil and gas companies lag those of other sectors
Thailand set to approve banking agents amid inclusion push
Financial inclusion effort means people can take deposits, transfer money and pay bills at banking agents, such as small merchants and post offices
World Gold Council launches gold accounting framework
Guidance aims to help central banks harmonise the treatment of gold in their accounts in a way that meshes with broader reserves accounting
Australia’s real-time payment system goes live to the public
System built by Swift will process payments in less than a minute and will utilise new PayID technology; Osko is first application launched on new platform
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
ECB dumps Steinhoff stock
Losses on holding in scandal-hit retailer may have been approximately €50 million
Doubts cast on Europe’s IFRS 9 transition period
Dynamic transition viewed as too complicated for banks to use or investors to understand
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
Nigerian central bank governor named in ‘Paradise Papers’
Emefiele’s lawyers say commercial bank failed to carry out governor’s instructions to end stake