Articles by Central Banking Newsdesk
Armenian annual report highlights growing European ties
Central Bank of Armenia strikes loan agreement worth €50 million with European Investment Bank and will use the money to fund SME projects
European leaders strike Greek deal but hurdles remain
All-night session ends in Greece agreeing to a tough reform package, but finance ministers continue to debate possible bridge financing and national parliaments must still give green light
ECB rolls out new website
Central bank revamps website with new design that puts greater emphasis on images, graphs and statistics; builds on bank supervision site launched in November
Yellen expects 'lift-off' later this year
Janet Yellen expects the Fed to raise the federal funds rate "at some point" in 2015 with full employment "coming closer into view" and inflation on track to return to 2% in the next few years
Colombian paper paints nuanced picture of bank risk and efficiency link
Researchers find some efficiency gains from better capitalisation, but results differ depending on whether a bank is large or small, domestic or foreign
San Fran Fed’s Williams says Chinese government ‘realistic’ about growth
John Williams says most economists and officials understand growth will probably drop below current target of 7%, which may lead them to adjust reform timetable
CPMI and Iosco launch first consistency assessment of FMI principles
'Level three' assessment will examine the consistency with which the Principles for Financial Market Infrastructures have been applied to central counterparties
Greek crisis enters critical weekend
Negotiations enter final days, with European authorities scrambling to assess whether new proposals go far enough; Greece has backers, but Germany must still be persuaded
Fed’s Brainard ponders whether systemic banks could choose to downsize
Governor Lael Brainard says systemically important institutions may choose to ‘reduce their systemic footprint’ as regulation kicks in and impacts cost-benefit analysis
Ex-BoE deputy to review UK statistics in effort to improve productivity measure
Charles Bean will lead an independent review on the ‘quality, delivery and governance’ of economic statistics produced in the UK, as government grapples with productivity puzzle
De Grauwe says Greek crisis has shaken OMT credibility
Belgian economist says ECB’s decision not to use OMTs because of fears over Greek solvency may have fatally damaged the policy’s credibility and consequently the stability of the eurozone
Weidmann does not see case for higher inflation targets
The Deutsche Bundesbank president points to welfare costs of higher inflation target, and argues in favour of structural reforms that boost productivity and deliver higher trend growth
FSB highlights ‘major steps’ toward reforming ‘Ibors’
Report finds administrators of Libor, Euribor and Tibor are making progress towards stronger interest rate benchmarks, with those in other jurisdictions advancing too
Irish SME report shows growth in new lending
Report published by Central Bank of Ireland shows annualised gross new lending at highest level since 2011, with the largest share channelled to the agricultural sector
BoJ paper finds short and long-term expectations are anchored differently
Inflation expectations respond differently to changes in policies and inflation depending on whether they are short- or long-term, researchers find
Central banks cannot avoid fiscal impact, Bundesbank panellists warn
Academics and central bankers point to fiscal impact of monetary policy and lender of last resort function, raising the question of how much fiscal power central banks ought to wield
HKMA introduces ‘major' piece of financial infrastructure to facilitate China flows
New routing and settlement service will underpin mutual recognition of funds initiative launched July 1; will enhance Hong Kong's role as ‘leading asset management centre', says Pang
BoE launches year-long artist collaboration
Martin John Callanan to work with BoE for a year to produce works reflecting central banking, in what Mark Carney hopes will be a creative way of communicating
EBA calls for more risk-sensitive securitisation regulation
Opinion submitted to European Commission recommends end to ‘one-size-fits-all’ capital treatment of securitisations, with two-stage process to determine which should be subject to lighter touch
Greece asks for three-year ESM bailout as Tsipras tries to unite Europe
Government submits request for longer support programme than previous proposals while Alexis Tsipras seeks backing during rowdy European Parliament session
BoE FPC wary of buy-to-let risks
Financial policy committee asks bank staff to identify channels through which the market threatens stability; UK government caps tax relief on buy-to-let property
Kenyan central bank hikes by 150bp in Njoroge’s first move
Central Bank of Kenya increases key rate for second consecutive month in first meeting with former IMF adviser Patrick Njoroge as governor
Minneapolis Fed research separates Greece and Puerto Rico debt crises
Staff report notes the debt crisis has spilled over to the private sector in Greece but not in Puerto Rico, given the latter’s inability to interfere with private external debt contracts
IMF paper identifies countries that ‘pass through’ spillovers
Individual countries can amplify, absorb or block spillovers, depending on their economic and structural characteristics, researchers at the IMF find