Articles by Central Banking Newsdesk
Cyber attacks could represent systemic threat, warns Ireland’s Roux
A string of cyber attacks on financial institutions could start a ‘domino effect’ that triggers a financial crisis, so firms need to improve their defences, deputy governor says
Disharmony threatens EU regulation, says EBA’s Enria
EBA chair says countries have too many opportunities to bend regulations to suit them, undermining supervision and harming banking union; argues EBA should be granted greater responsibilities
Central banks should prepare to deal with sharp drops in liquidity, IMF says
Policy-makers need to take action to halt rising risks relating to liquidity, IMF says; central banks may be able to use collateral policies to deal with crises
Global factors harming domestic policy transmission in Asia, IMF research finds
Authors find global factors help to explain why bank funding in Asian economies has such a limited role in transmitting monetary policy
Chicago Fed president wants more evidence of inflation
Evans backs an ‘extra-patient approach’ to monetary policy as he airs concerns over inflation outlook and ‘asymmetric’ risks; assesses economy more cautiously than FOMC colleagues
Kuroda unfazed by ‘somewhat stagnant developments’
Japan’s economy has been through a summer lull but the BoJ chief insists it will bounce back, with inflation set to rise as expectations shift and low oil prices pass through
Noyer wants tailored approach to shadow bank regulation
Banque de France governor highlights the risks of a ‘one size fits all’ approach to regulation across the banking and shadow banking sectors
Colombia doubles value of largest banknote
Colombian central bank will issue new 100,000 note for the first time alongside five redesigned denominations in 2016
RBNZ reveals adjustments to ‘tight budgetary framework’
Central bank cuts 15 positions in preparation for new funding agreement; talk of an ‘offshore office’ put on ice last year as operating expenses ran over budget
IMF staff calls for ‘comprehensive strategy’ on non-performing loans
IMF staff call for creation of asset management companies to free up European banks from distressed debt; cites Spain as good example
Taiwan cut seen as start of easing cycle
Prompted by negative inflation and stalling growth amid China slowdown, the central bank cuts rates for first time since 2011
IMF paper offers recipe for ‘de-dollarisation’
High levels of dollarisation in central Asia are contributing to macroeconomic instability, paper says; authors offer various options that could help reduce reliance on dollars
Micro-data matters for unemployment, says BoE’s Broadbent
Deputy governor becomes latest economist to stress importance of micro data for macro policy, warning overreliance on ‘simple aggregates’ may lead central bankers astray
Bundesbank board member wary of flexibility in fiscal rules
Carl-Ludwig Thiele calls for more "balance" between liability and control in the eurozone, stressing the importance of enforcing fiscal rules
Competition can boost macro-financial stability, research finds
A survey of 54 European banks shows increased competition increases the fragility of individual banks but decreases systemic risk, working paper says
Fed board approves changes to same-day ACH service
Institutions that receive payments through the ACH network will have to participate in same-day service, but will be compensated by a new interbank fee levied on originators
Draghi: too early to judge impact of global events on eurozone inflation
Mario Draghi says slowing growth in EMs, strong euro and weak commodity prices have ‘renewed downside risks’ to outlook; Peter Praet says eurozone still ‘going through correction phase’
Organisations outline next step in plans to strengthen CCPs
Basel-based groups and Iosco publish workplan for coordinated international policies on CCPs, and offer update on story so far; 2016 will see the bulk of analysis published
Belgian paper explores link between monetary policy and risk-taking
Model suggests central banks should stabilise the path of the real interest rate more when there is a ‘risk-taking channel’ of monetary policy, to help reduce ‘welfare detrimental fluctuations’
BoE’s Shafik sees scope for reducing sovereign spillovers
Policies are available that could help reduce the risk of ‘disorderly spillovers’ between sovereigns, with lessons to be learned from the lender-of-last-resort function, deputy governor says
ECB paper traces roots of falling financial integration
Policy interventions beyond traditional capital controls may have ‘unintended’ impact on financial integration, including some macro-prudential measures based around currency
China opens onshore bond market to foreign banks
Hong Kong units of HSBC and Bank of China are first overseas lenders to receive approval, following move PBoC says will increase cross-border use of the yuan
Riksbank paper takes stock of macro-prudential landscape
A survey of the empirical literature on macro-prudential policy says various tools work best in different contexts; more research is needed on combining macro-prudential and monetary policy
Poloz expects Canada to manage adjustment well
Bank of Canada governor says the floating exchange rate will help the country to adjust to the resource price shock, while reducing the disinflationary risks that come with it