Articles by Central Banking Newsdesk
BoE prepares to implement Banking Standards recommendations
Response to final report of the UK’s Parliamentary Commission on Banking Standards endorses the majority of the findings, although many points require further consultation
Fed's Stein seeks right regulatory mix on fire-sales for SFTs
Fed governor Jeremy Stein calls for new mix of rules to ensure ‘fire sale’ of securities financing transactions work at the system-wide level
IMF paper says ECB can do more to fix broken transmission mechanism
Working paper identifies credit channel as a major malfunctioning component of the eurozone monetary transmission mechanism and suggests possibilities for fixing it - including asset purchases
Canadian bonds more normal than US and UK equivalents at ZLB
Canadian sovereign debt yields are more responsive to shocks than UK and US equivalents at zero lower bound; differences diminish at shorter maturities
IMF tells Turkey to fix flawed monetary policy framework
Article IV mission calls on central bank to ‘re-consider’ its policy framework, accusing policy-makers of targeting too many objectives and consequently failing to control inflation
Kocherlakota urges Fed to do ‘whatever it takes’ to boost labour market
Persistently low inflation means the Federal Reserve can throw all its resources behind the fledgling labour market recovery, according to the Minneapolis Fed president
Dollar lending in East Asia can override local monetary policy, says BIS' McCauley
Paper by Robert McCauley and Dong He of the HKMA argues the growth of credit in foreign currencies, especially the dollar, transmits global monetary easing to East Asia
Maltese politicians clash over new deputy governor appointment
Move to appoint a deputy governor in charge of financial stability at the Central Bank of Malta led to opposition accusations of politicisation
Demand for Bank of Portugal online stats grew 51% in 2012
The central bank’s website received more than 55,000 visits last year, with the statistical service offered online and on mobile devices the most popular feature
Fed's Williams questions future of unconventional tools
San Francisco Fed president John Williams says forward guidance will help to improve transparency in more conventional times, while asset purchases should only be used as a last resort
Fijian governor foreshadows application of mobile payments in agriculture
Barry Whiteside says mobile banking is fast becoming an ‘accepted mode of payment’ and has the ability to transform Fiji’s agricultural sector
Close elections kryptonite for foreign investors, Fed research finds
The timing of national elections causes FDI flows from US firms to affiliates in more than 40 countries to drop by an average of 12% compared to non-election years, according to Fed research paper
Central Bank of Ireland urges continued austerity despite slowdown
Any scaling back of fiscal adjustment runs risk of unwinding positive effects of €28 billion consolidation effort ‘for the sake of small short-term fiscal easing', bank argues in quarterly bulletin
Lagarde says US has ‘special responsibilty' to unwind QE responsibly
IMF director says failure to raise US debt ceiling could seriously damage the global economy; warns emerging markets will have to adjust to new economic reality for remainder of the decade
Central Bank of Chile minutes reveal concern over slowing Brics
Slowdown in countries including Brazil, India, Indonesia and South Africa likely to have adverse effect on rest of the emerging world as well, board members say
Bank of Lebanon signs memorandum of understanding with Dubai FSA
Agreement aimed at improving information sharing on financial stability issues was signed by regulators in Dubai earlier this week
Falling asset prices 'significantly associated' with onset of G-7 recessions
IMF working paper examining the usefulness of asset prices in predicting recessions in the G-7 countries finds equity price drops are larger and more frequent than house price drops
Boston Fed president says unwinding QE could take ‘several years’
Rosengren said disappointing data and the possibility for ‘disruptions’ in US fiscal policy prompted him to vote for steady asset purchases; says monetary accommodation should be removed slowly
Wheeler shines a spotlight on housing supply
Reserve Bank of New Zealand governor Graeme Wheeler says restrictions on high loan-to-value mortgages will alleviate house price increases, but the bigger issue is housing supply
National Bank of Denmark governor highlights housing concerns
Lars Rohde says investor confidence in the creditworthiness and liquidity of mortgage bonds is ‘at the core' of the Danish mortgage credit system
Canadian yields shown to be less sensitive to data shocks than US or UK
Working paper from the Dutch central bank shows that at the zero lower bound, Canadian government bond yields are less sensitive to surprising domestic data than US or UK equivalents
McDermott reveals drop in New Zealand’s neutral rate of interest
Reserve Bank of New Zealand assistant governor says households and businesses should expect to face lower rates ‘on average’ in the future relative to before the crisis
Basel III requirements could clash with new bail-in rules, warns IMF
Increased pressure on banks to rely more heavily on collateralised debt could combine with ‘depositor preference' rules to raise funding costs at a time when credit conditions remain tight
Macklem says Canadian exporters must look to new markets
Slowing domestic demand must be replaced with demand from other countries, says Bank of Canada deputy; faster-growing emerging markets will hold the key, he says