Articles by Central Banking Newsdesk
IMF research explores effects of lighter rule on US banks
Republicans in Congress claim Dodd-Frank increases complexity and hampers small banks’ lending
BoE working paper examines ‘exorbitant privilege’ benefits
Economist analyses whether the UK enjoyed the same benefits as the US when it was the pre-eminent issuer of a global reserve currency; findings show fundamental differences between the two in terms of investment patterns
Opposition politicians call for Malaysian central bank to reopen probe
Move follows US government lawsuit claiming over $1.6 billion in assets and damages
Fed paper: corporate bond buying can misallocate capital
Capital misallocation effects can mean corporate bond purchase schemes underperform QE based on sovereign bonds, say economists
IMF deems negative rates to have had ‘no major side effects’
IMF paper explores the impact of negative interest rates on bank behaviour, concluding the transmission to money markets and bond yields has worked well
Michael Wong Pakshong, 1931–2017
MAS’s first managing director led the institution from a turbulent foundation amid the collapse of Bretton Woods through a challenging period of monetary reform
San Francisco Fed economist explores methods to forecast interest rates
Michael Bauer aims to forecast interest rates based on the current level and long-run trend, and a narrative linking both
Digital currencies could transform the role of central banks – Chilean governor
Marcel is wary of developments with CBDCs, but believes they are still a long way off; he urges central banks to keep pace with fintech innovation
RBNZ to stick with ‘simple-yet-conservative’ regulation, says Spencer
Financial stability head acknowledges there could be risks to deviating too far from global norms, but says New Zealand prefers to keep regulations strict and simple
Banks have never been very ‘boring’ – NY Fed economist
Banks have consistently innovated throughout history, and regulations have struggled to keep up, Nicola Cetorelli writes
Turkish inflation begins to fall amid economic strength
Inflation fell back to single digits in July for the first time since January; economy buoyant amid stimulus measures in wake of failed coup
Fed can no longer ‘wait and see’, says Williams
Waiting to unwind the balance sheet could “overheat the economy”, says San Fran president, who believes the US has “fully recovered” from the recession
ECB and ESRB present database on European financial crises
New database will be key tool for macro-prudential authorities
Australia risks shortage of economists, warns RBA’s Dwyer
Students are tending to choose business studies over economics, says the RBA’s head of information; central bank is trying to reverse the trend
FDIC’s Hoenig warns on relaxing bank capital requirements
The Trump administration claims regulations hamper lending and economic growth, but Thomas Hoenig argues capital is an essential source of funding for banks
RBI makes first rate cut of 2017
Inflation is at a record low, and growth is forecast to rebound, although the RBI is still concerned about weak transmission of the policy rate
Serbia’s Tabaković deems NPL action plan a success
Proportion of NPLs has fallen by 6% since 2015, says governor
Stanley Fischer analyses the factors behind low real interest rates
The economist emphasises government policy uncertainty in the US regarding health care, regulation, taxes and trade, as well as higher savings and weak investment
Banks’ funding plans need ‘careful monitoring’, EBA says
Planned increase in MREL issuances in 2018–09 may cause problems, report warns
UK banking sector faces higher costs after Brexit, report warns
Banks intend to minimise initial impact of Brexit in operations, but may be forced to move more personnel over time to maintain proximity to clients
Fed’s Brainard says US is ‘falling short’ in diversifying economics
Federal Reserve Board governor highlights the benefits of diversifying the economics profession, urging students to consider a career before “shutting the door”
Banks not ‘boring’ before Glass-Steagall repeal, New York Fed economist says
There is little evidence of an explosion in non-traditional activity after Glass-Steagall was dropped, despite the conventional narrative, economist says
Tax cuts should focus on income from capital, French paper argues
Cutting taxation on labour is less effective in boosting growth, researchers say
HKMA’s investment team “on guard” for turbulence later in the year
HKMA deputy chief executive warns of an undercurrent of market uncertainties in the second half of the year, after fund made record returns in the first half