Articles by Central Banking Newsdesk
EBA prepares for impact of single supervisory mechanism
Annual report for 2012 shows the European Banking Authority grew rapidly to meet the demands of a widening stability mandate, which will include working with the eurozone’s SSM
MAS penalises 20 banks for involvement in rate-rigging
Monetary Authority of Singapore says 133 traders attempted to manipulate financial benchmarks; punishes 20 banks, with ING Bank, RBS and UBS hit the hardest
ECB’s Asmussen details 'comprehensive assessment' of European banks
The European Banking Authority will conduct stress tests in second quarter of 2014, after initial ECB asset quality review and balance sheet assessment
Fijian governor praises private investment but concerned by export slump
Barry Whiteside attributes Fiji’s return to growth to the increase in private sector investment; urges export sector to ‘improve quickly’ to prevent further slide in trade deficit
IMF expects Fed to hold QE steady until 2014
IMF releases Article IV consultation with United States; praises impact of Federal Reserve's asset purchases but criticises ‘excessively rapid and ill-designed' deficit reduction
BoE’s Tucker sketches ‘richer’ capital accord
Paul Tucker gives a vision of what an ideal capital accord might look like in future including greater use of CoCos and longer-term debt; stresses this would still not remove the need for supervision
BoJ minutes show concern over bond market pressure ahead of QE taper
Members at the May meeting of the Bank of Japan’s policy board agreed on the need for a ‘flexible’ approach to bond purchases as fears over the end of QE in the US push up long-term rates
National Bank of Belgium urges care in use of credit conditions surveys
Analysis shows eurozone’s Bank Lending Survey and Belgium’s Survey on Credit Conditions contain useful information – but ‘crucially’ depend on model specification
ECB is capable of negative rates - but consequences are uncertain
ECB executive board member Yves Mersch says dangers include financial innovations to ‘emulate currency and allow tax avoidance' if deposit rates are moved below zero
BoE deputy Paul Tucker quits after 33 years
Deputy governor for financial stability will stay for Mark Carney's first few months as governor of the Bank of England, before leaving to spend a ‘period of time in academia in the US'
Bank of Canada reins in risk concerns
Review of Canadian financial system finds risks from European sovereign debt crisis and Canadian housing market are retreating; special report says collateral demand is ‘manageable’
Shirai says Bank of Japan’s communication has ‘room for improvement’
Board member explains reasons for dissent in recent monetary policy meeting; says Outlook Report is unclear in some places and misleading in others
Israel's Fischer says he used casting vote to avoid ‘signs of a crisis'
Outgoing Bank of Israel governor regrets his MPC never outvoted him, but feels recent moves to stem the shekel's rise have met with success
FDIC chief economist highlights factors behind community bank failure
Richard Brown says community banks play a ‘crucial role’ in the US financial system; presents research identifying common factors behind those that failed during various financial crises
Riksbank paper looks at scrapping inflation target in favour of nominal GDP
Working paper concludes the inflation target should not be dropped, but only outperforms nominal GDP targeting when forward guidance is given
Bank of England paper says above-target inflation threatens expectations anchor
Article in latest quarterly bulletin says UK inflation expectations remain anchored for time being but could be dislodged if high inflation persists
Asia-Pacific: Financial stability concerns reflected in rate decisions and forex intervention
Indonesia leans against higher inflation expectations with rate rise, RBNZ's Wheeler concerned over ‘rapid' house price inflation, and Bank of Thailand attempts to slow baht's downward slide
ECB’s LTROs had ‘favourable effect’ on sovereign yields
Dutch working paper evaluates the impact of the ECB’s unconventional monetary policy; says LTRO had beneficial short-term effect on government borrowing in most distressed eurozone countries
Canadian paper proposes new DSGE model for analysing credit shocks
Working paper proposes new model that accounts for the effects of defaults on both households and banks; finds the probability of a company defaulting rises with its leverage ratio
Ingves wants Riksbank monopoly over macro-prudential policy
Stefan Ingves dismisses proposals for central bank and financial services authority to share responsibility for macro-prudential responsibility
Turkish central bank steps in to calm forex markets
Capital outflows have prompted Turkey's central bank to purchase local currency in a bid to smooth ‘market volatility'; move seen as signalling a failure of the bank's 'Reserve Option Mechanism'
National Bank of Denmark tells smaller banks to strengthen their positions
Financial Stability Report for 2013 reveals that while the five nationally systemic banks have plenty of capital, some smaller banks are found wanting
Austria’s Nowotny cautious on single supervisor
National Bank of Austria governor says there are valid reasons for central banks to play a greater role in banking supervision, but voices concerns regarding the single supervisory mechanism
Ibos warns of payments disruption as Sepa deadline set to be missed
Banking association says 2014 Sepa migration target will be missed at current pace, which could see systems shut down and payments fail; harmonisation may be limited even when target met