Articles by Central Banking Newsdesk
Wilkins warns ‘a lot of work remains’ in implementing reforms
Canada’s senior deputy governor stresses need for coordination among regulators; suggests bilateral agreements could be useful given trend toward regional banking
ECB paper examines financial exposure in eurozone
Working paper finds eurozone investors are ‘overexposed’ to securities issued within the region, more so in the case of ‘low-rating economies’
Turkish central bank acts as election prompts lira slump
Markets taken aback as president Recep Tayyip Erdoğan’s party falls short of majority; central bank measures fail to stop lira sliding to record low
Dudley expects ‘some turbulence’ when Fed hikes rates
New York Fed president highlights importance of short-term rate path for financial asset prices – something he says will reflect changes in economic outlook and financial conditions
Irish deputy sees value in ‘well-developed’ rental market
Stefan Gerlach says it is important renting is an attractive long-term proposition, as deeper rental markets help make the economy more resilient to shocks
Basel Committee lays out two tracks for banking book capital requirements
Consultation offers standardised option for greater transparency and comparability or tailored option to better account for regional characteristics – or a hybrid of the two
IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Mitsuhiro Furusawa says macro-prudential tools could force financial activities into a less regulated sector or country, but adds little is known about benefits of ‘leaning against the wind’
BoE appoints Andrew Hauser to new executive director role
Head of Fair and Effective Markets Review appointed to new executive director role with responsibility over balance sheet risks, payments and banking operations
Kohn targets more ‘systematic’ macro-prudential policy
Member of the Bank of England’s FPC says the committee should keep developing a more systematic approach to identifying risks and choosing tools to address them
Klaas Knot blames disharmony in regulation for higher risks
A lack of common standards in eurozone capital markets was an ‘aggravating factor’ in the run-up to the financial crisis, Dutch governor says; urges commission to add this to CMU proposals
Liikanen sees potential for payments revolution
Bank of Finland governor says we are yet to witness the emergence of a ‘true future payment system’ but it nonetheless feels like ‘something fundamental has changed’
WEF panel in Africa values sound public policy over money
Outgoing African Development Bank president Donald Kaberuka says good policy crucial to development; World Bank vice-president Makhtar Diop says financing costs unfairly high
Qualified support for central clearing of repos in Australia
RBA consultation attracts general support from market participants, but respondents say benefits rely crucially on strong take-up – the same issue that ended Australia’s last repo CCP experiment
RBNZ strikes new funding deal with government
Funding agreement features small increase in core operating expenditure over the next five years and additional $51.4 million to help meet cost of issuing new banknotes
ECB’s Mersch wants pan-European instant payment system
Executive board member hopes to bypass national schemes and use Sepa infrastructure to deliver pan-European instant payments
IMF paper urges central banks to adopt sharia-compliant facilities
Authors warn lack of sharia-compliant monetary policy tools is hampering efficient liquidity management among Islamic banks, but is an area that requires further research
BoJ paper outlines idea of ‘natural yield curve’
Curve defines level of natural rate of interest at all maturities; authors suggest it provides a ‘useful benchmark’ for the conduct of monetary policy
IMF tells Fed to wait until 2016 to hike rates
Fund says keeping rates lower for longer would provide ‘valuable insurance’ against disinflation; encourages Fed to hold more press conferences and publish quarterly monetary policy report
WEF panel sets out plan to develop African capital markets
Rwanda governor says more domestic savings and deeper markets necessary for development; private sector participants praise integration in East Africa
Fed’s Brainard sees scope for ‘watchful waiting’
Governor says there may be room to ‘support further healing’ in the labour market before raising interest rates, but notes first hike could still come this year
New euro banknotes go down well in the Netherlands
Study conducted for the Netherlands Bank finds new €5 and €10 banknotes are more popular than their predecessors, though familiarity with design features remains low
Riksbank calls for ‘urgent' clarification of FSA’s powers
Financial stability report says FSA needs clearer powers to cope with rising risks in the financial system; wants major banks to strengthen capital and liquidity positions
IMF's Patrick Njoroge nominated as Kenyan governor
President picks IMF adviser Njoroge from a shortlist of five candidates, which included current and former deputy governors; name passed to parliament for vetting
Draghi warns high volatility here to stay
Government bond yields continue to climb as Draghi says ‘we should get used to periods of higher volatility’ with interest rates on the floor; ECB keeps policy unchanged