Articles by Central Banking Newsdesk
Credit booms make for more severe recessions – BoE paper
Authors find credit growth is a more reliable predictor of the severity of recessions than debt
Spanish central bank reorganises directorates
New associate director-general for banking supervision appointed
Bank of Korea paper says digital currency will not displace hard cash
Digital currency could be used as a medium of exchange, but will not oust cash as a store of value, given the issues surrounding insurance and trust, authors of working paper find
Norway’s Nicolaisen: central banks must guard against e-money takeover
Private electronic money can bring drawbacks, especially in a crisis, Norges Bank deputy governor warns; central banks need to come up with better options
Paper looks at eurozone banks’ contributions to systemic risk
Researchers use the SRISK measure on a sample of eurozone banks
Italian banks will not block recovery – deputy governor
Further reforms of loan law are necessary, says Rossi
Forex volatility can boost liquidity – BIS paper
Price volatility might not always be a bad thing for market liquidity, authors find
Fed greenlights Wells Fargo revamp, lifts growth limits
Bank’s 2015 plan contained “deficiencies” that have now been corrected, US agencies say, although a further hurdle is coming this year
BoJ’s Nakaso says digital currencies would allow ‘wider access’ to payments
Replacing banknotes with digital currencies would be “extreme”, deputy governor says, but would allow “wider access” to central bank payment infrastructure
Long-run rates have been lower – Chicago Fed economists
Economists note the long run downward trend among G7 countries has reversed in the past, suggesting it could do so again
Denmark is ‘not yet’ in a housing bubble – Rohde
Governor says current housing taxes are “destabilising”, and have had to be countered with macro-prudential policy
PBoC’s Zhou: 6.5% growth target is ‘within reach’
Governor says he believes China’s growth target is attainable, as he urges countries to remain open to trade and investment
Deterioration in labour market not yet hitting unemployment – Chile’s Marcel
Chilean governor says self-employment has acted as a “significant buffer” as employment declined; unemployment not yet being affected thanks to “flexibility” of market, governor says
Fed fines Deutsche Bank on Volcker rule breach
Bank hit with fines for “unsound” practices in forex markets and violation of Volcker rule; Fed’s Powell admits the rule may need simplifying
BoE’s Saunders hints at willingness to raise rates
MPC member signals he sees the UK economy running somewhat hotter than the consensus view suggests
Fintech not a danger to banking, say IMF panellists
Bank of Canada deputy says banks should be ready to embrace fintech, as the benefits for grow; IMF fintech working group hosts first panel at Spring Meeting
European supervisory authorities call for changes to stress test methods
Next European stress tests should simulate yield changes and “interconnectedness”
Singapore governor says financial regulation would benefit from ‘fine tuning’
Regulation has helped strengthen the financial system, but policymakers should be wary of “pendulum swings”, Menon says; central banks should “not be afraid” to make adjustments
Paper takes novel approach to identifying monetary policy shocks
Researcher combines dynamic factor model with changes to financial instruments
Securities regulation ‘does not need brand new framework’ – Esma head
Regulators must avoid inconsistency, Maijoor says
Fresh exchange rate cap remains an option – CNB minutes
Minutes of extraordinary meeting say exchange rate commitment or other unconventional tools cannot be ruled out if deflation risks re-emerge
IMF warns bad political choices could trigger instability
Fund says financial stability has improved, but high risks remain in China, Europe and the US
Lesotho launches new core banking system without a hitch
Intellect Design Arena’s QCBS will improve the “operational efficiency” of the African central bank; system will also form the “backbone” of the Central Bank of Armenia’s upgrade
Chile’s Marcel praises Argentine reforms
IMFC chairman says reforms have “paid off”, helping the country re-enter the global economic stage; lifting of capital controls and export restrictions will contribute to Argentina’s growth in 2017