Articles by Central Banking Newsdesk
Departing Bernanke takes stock of Fed's unprecedented actions
Federal Reserve chairman discusses the ups and downs of the bank's asset purchases and attempt to guide market expectations; admits shortcomings but maintains policies are warranted
OECD joins calls for eurozone QE
Organisation says ECB should consider ‘institutional changes' to allow it to buy corporate and sovereign bonds; suggests a timetable for US taper
Polish economists say rate cuts damaged trust in ECB
Working paper says central bank interest rate cuts can damage public trust if they come at a time when households have ‘pessimistic expectations'
Fed presidents push for macro-prudential rethink
Eric Rosengren joins chorus for simpler Basel III capital requirements, while Narayana Kocherlakota says regulators ought to be paying more attention to the measurement of too-big-to-fail effects
Caruana flags evidence of ‘manifold’ QE spillovers
BIS general manager presents evidence of varied spillovers from advanced economies' monetary policy; says policy-makers should do more to take them into account
Belgian paper posits method for robust optimal monetary policy
Working paper suggests way of supplementing optimal monetary policy with elements of a rules-based policy, punishing policy-makers for deviation but not preventing them from exercising discretion
Brazil’s Tombini says ‘we still do not fully understand’ macro-prudential tools
Governor of the Central Bank of Brazil warns that limited understanding of new policies presents ‘significant communication challenges’ for central banks
ECB cut prompts record FX intervention in Serbia
Central bank expresses ‘firm and prudent’ resolve to lean against capital flows resulting from ECB rate cut, but eschews a fixed exchange rate
Ingves says Basel reforms must move ahead
Resolving issues around regulatory implementation will take time, Basel Committee chairman says, but he emphasises the ‘status quo cannot be maintained'
Using assets as collateral increases volatility of returns, Buba paper finds
Bundesbank discussion paper uses model comprising agents differing in their level of risk aversion; negative economic shocks substantially alter wealth distribution between the two
People: Tim Geithner moves to Warburg Pincus; BNM deputy re-appointed
Former Treasury secretary and New York Fed head Timothy Geithner takes a job in private equity; Malaysia re-appoints deputy to three-year term; two new directors at Dallas Fed
Malaysia central bank opens office in Beijing
BNM's newly established presence reflects growing trade and financial ties with China; governor also reveals new renminbi liquidity facility and MoU to establish cross-border collateral arrangements
Emerging markets will 'suffer' as QE ends, say panellists
Guillermo Calvo, Vittorio Corbo and Maurice Obstfeld say emerging markets face a bumpy landing when Fed winds down QE, and some are better prepared than others
Bank of England points to growing concern over low rates
Market participants say the risks surrounding low interest rates are now the third biggest cause for concern in the UK financial system, behind sovereign risk and the prospect of an economic downturn
Belgian paper warns central bank policies could worsen financial shocks
Working paper studies optimal monetary policy configurations for price and financial stability in Eastern Europe; finds central banks may worsen credit shocks by taking action against them
Crisis showed need for ‘more and better' stats, says IMF
Forum on improving statistics held in Washington in the same week as Myanmar joined the GDDS initiative; Argentina remains in the doghouse over inadequate GDP and inflation data
Central Bank of Aruba 2012 annual report highlights drop in inflation
Average annual inflation in the Caribbean territory dropped from 4.4% in 2011 to 0.6% last year; says international reserves 'remained adequate'
ECB's Mersch touts securitisation of SME loans as way of boosting EU economy
Executive board member says second priority after assessing banks' balance sheets is to support lending to SMEs by strengthening capital markets
Banks respond differently to capital target deviations, ECB paper shows
Working paper finds banks tend to reshuffle risk-weighted assets or increase holdings when above Tier I ratio, but more inclined to increase equity levels when below target
Riksbank policy-makers differ 'fundamentally' on role of central bank, says deputy governor
Sveriges Riksbank deputy says policy approach is marginally beneficial at best and risks undermining 'public confidence' in central bank's targeting of inflation
Bank of Spain deputy on what banking union will mean for national lenders
Spanish banking system will not face more complex challenges than those posed in other jurisdictions, says Fernando Restroy; capital levels for sector as a whole will be above 10% by year's end
Yellen defends QE in congressional confirmation hearing
Prospective Fed chair says asset purchases have had ‘meaningful' impact on financial wellbeing of normal Americans; hints at further banking regulations ‘down the line'
Reserve managers diversifying due to rise in risk, not a search for return, say CBP panellists
Central bank reserve managers are moving into new assets due to concerns about rising risks in traditional currencies, rather than in a search for yield, say Central Banking On Air panellists
SEE region must face financial challenges together, says Macedonia deputy
Macedonia's financial system, like others in the region, has suffered thanks to international regulation leading local subsidiaries of European banks to deleverage in southeast Europe