The Federal Reserve announced on October 4 that it had asked its inspector-general to review certain controversial equities transactions by senior Fed officials. The statement comes a week after two regional Fed presidents stepped down…
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Profits aren’t the main objectives of a central bank, but a dependence on government to recapitalise the bank can pose a risk to a central bank’s independence. In turn, central bank independence exists in part…
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The Bank of England will close its cash distribution centre in Leeds, but says it plans to increase its footprint in the north of England. In a statement today (April 22), the BoE said it will…
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Central Bank of Colombia, Bogota A Colombian lawyer is asking a court to annul the appointment of former finance minister Alberto Carrasquilla to the central bank’s board. The lawsuit before Colombia’s “council of state”, the…
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A cross-border central bank digital currency (CBDC) platform has the potential to shorten the time of cross-border wholesale payment transfers by 80% and halve costs, a report said. The “multi-CBDC bridge” project, or simply “mBridge”,…
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Hong Kong: central bank warns of “new and emerging risks” in the city’s AML/CFT regime The Hong Kong Monetary Authority (HKMA) is encouraging banks and financial services firms to use innovative technology for anti-money laundering…
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A group of Nordic central banks reached an agreement on November 12, setting basic principles for mutual currency swap facilities. Sveriges Riksbank, Norges Bank and the National Bank of Denmark announced that their agreement came into…
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The Mexican peso came under pressure this week as Fitch and Moody’s revised downwards their ratings of Mexico’s sovereign debt and national oil company Pemex. Since June 5, the currency has shed 1.5% of its…
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Federal Reserve vice-chair Richard Clarida said on August 4 that he expected the Fed will be ready to raise interest rates in early 2023. Clarida’s comments add to an intensifying discussion about when the Fed…
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The lower house of Brazil’s parliament passed a law granting the Central Bank of Brazil formal autonomy on February 11. After decades in which Brazilian governments debated this option, the law gives the central bank…
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