Articles by Central Banking Newsdesk
Danièle Nouy targets greater regulatory harmonisation
Supervisory board chair highlights efforts taken to harmonise regulatory framework in Europe but stresses more must be done; says SSM is ‘working very well’ as it approaches first anniversary
European supervisors flag rising liquidity risks
Supervisors raise concerns over growing market liquidity risks, warning of the combined impact of technology, regulation and competition; asset managers a potential source of contagion
Cœuré warns ‘serious data gaps’ still exist
ECB executive board member says serious gaps, inconsistencies and inefficiencies still exist in many areas important for monetary policy and financial supervision
CPMI and World Bank say transaction accounts are key to financial inclusion
Joint CPMI-World Bank report stresses importance of transaction accounts in promoting financial inclusion, and offers policy advice for countries looking to improve access to financial services
Gaza blockade adds to leap in Palestinian inflation
Low oil prices are not fully offsetting a fuel crisis in the Gaza Strip as a continued blockade causes rapid price rises in certain goods, a Palestine Monetary Authority inflation report finds
Kocherlakota considers impact of public debt on long-run interest rate
Minneapolis Fed president says an increase in public debt could help increase long-run neutral rate, allowing the FOMC to raise rates quicker, but it would come with costs
RBNZ cuts OCR again in face of ‘softening’
Graeme Wheeler reiterates ‘some further easing in the OCR seems likely’ as he reveals the third consecutive rate cut; RBNZ notes importance of Chinese demand to commodity prices
People: Top EBA officials backed for new terms; Philadelphia Fed first VP to retire
Andrea Enria and Adam Farkas handed new five-year terms by EBA’s board of supervisors; Philadelphia Fed announces Blake Prichard will retire early 2016; and more
China to open up interbank foreign exchange market
Central banks will be granted access to China’s interbank foreign exchange market as part of ongoing reforms, Li Keqiang reveals
PBoC reveals $93.9 billion drop in reserves
People’s Bank of China reveals size of drop last month, driven by intervention in foreign exchange markets after devaluing yuan; reserves sat at $3.56 trillion at end of August
IMF paper challenges idea of debt threshold effect
Countries with high levels of public debt can grow just as fast as their peers, provided the debt is on a downward trajectory, research finds
BoE Court chair ‘uneasy’ about government audit plans
Anthony Habgood concerned by ‘potential threat’ to the Bank of England’s independence in setting policy from handing the National Audit Office the power to conduct ‘value for money studies’
RBA deputy welcomes ‘considerable’ exchange rate adjustment
Philip Lowe says flexibility of the exchange rate, labour market and monetary policy have helped Australian economy adjust to ‘downswing’ in commodity prices and mining investment
BoJ’s Shirai explains why negative rates fit Europe better than Japan
Policy board member Sayuri Shirai says impact of rates varies according to market structure, noting differences in the type of investors and credit conditions in the jurisdictions
ECB concerned by impact of draft German law on supervision
European Central Bank suggests proposals could impact consistency across the banking union and its own supervisory discretion in response to Federal Ministry of Finance
Former COO of BNP nominated as Banque de France governor
François Villeroy de Galhau picked by French president to succeed Christian Noyer as central bank head; past experience includes BNP Paribas and French treasury
EBA raises ‘significant concerns’ over bonus culture at European banks
Bonuses at many banks found to have little correlation with performance in last bonus round before cap; one banker paid over €18 million and largest bonus proportionally was 25 times base salary
Zhou says markets have stabilised as G20 meetings end
The central bank governor says the renminbi and Chinese stock markets have largely finished correcting; G20 policy-makers pledge to avoid competitive devaluation
RBI official defends going beyond Basel III
Vishwanathan singles out aspects of Indian financial system that make higher capital requirements appropriate, including short ratings history and population of unrated borrowers
Bundesbank's Weidmann to replace Noyer as chair of BIS board in November
The Bundesbank president will take over as chairman of the BIS board of directors when Christian Noyer retires from Banque de France next month
ECB paper makes case for Bayesian model averaging in stress-test models
Working paper highlights the differences between using Bayesian model averaging and a series of handpicked equations
Israel committee see risks to inflation outlook rising
Policy-makers at Bank of Israel discussed decline in short-term inflation expectations, a potential drop in growth and the strength of the shekel in August meeting
CPMI-Iosco launch next phase of data aggregation work
Standard-setters begin consultation on first batch of key data on over-the-counter derivatives, as part of work on data aggregation by trade repositories
ECB spruces up premises with tree sculpture
Italian artist creates 17.5 metre sculpture of a tree using bronze and granite to be displayed at the main entrance of the European Central Bank’s headquarters