Articles by Central Banking Newsdesk
IMF paper examines crisis indicators
Working paper assesses the effectiveness of various indicators in predicting financial crises; finds that leverage is ineffective and instead use of poor quality collateral is “critical link”
New Zealand central bank publishes statement of intent
Statement emphasises commitment to price stability as “primary goal”; highlights need to adapt to macroeconomic environment in setting monetary and macro-prudential policy
Australia’s Debelle defends rate cuts
RBA assistant governor says central bank’s rate cuts will have an effect; argues housing market is stronger than many critics believe
Bank of Canada paper models repo market collapse
Working paper develops model of repo markets to explain causes of collapse; finds that central bank intervention can help prevent problems
Malaysia’s Zeti considers economic challenges facing Asia
Zeti Akhtar Aziz examines impact of global spillovers on Asian countries; says greater regional cohesiveness and co-operation have boosted region’s potential to overcome difficulties
Central Bank of Cyprus supports bailout request
Central bank recognises need for European help to recapitalise Cypriot banks; commits to supporting efforts to finalise the bailout
Basel Committee reveals final rules on capital disclosure
Final rules published on disclosure of banks’ capital composition as well as consultative document on risk reporting; committee aims to reduce financial stability risks from international banks
IMF paper studies fiscal impact of ageing population
Working paper analyses the effect of ageing populations on 'fiscal space' in G-7 countries; finds a greater impact on countries with larger governments
RBI paper develops systemic liquidity index
Working paper designs a 'systemic liquidity index' of financial markets in India; says index would be useful in monitoring financial system trends
BIS’s Cecchetti discusses financial globalisation
Stephen Cecchetti considers whether financial systems can grow too big and assesses how far countries should go in outsourcing financial services
Singapore and Thailand sign cross-border collateral MoU
Monetary Authority of Singapore and Bank of Thailand sign agreement to establish cross-border collateral arrangement; aims to promote financial stability in both countries
EC staff to ‘step up’ work on Spanish banks assessment
Olli Rehn calls for staff to speed up assessment of Spanish banking sector; downgrade rumours swirl after official government request for financial assistance from the Eurogroup
New $50 note released in Trinidad and Tobago
Central bank issues new note as part of independence celebrations; limited number of new $50 banknotes carry commemorative message
IMF highlights problems with overreaction to financial crises
Working paper studies data on banking crises; finds that a strong macroeconomic response to a banking crisis may reduce incentive for banks to restructure
Iceland central bank governor discusses policy challenges
Már Guðmundsson reflects on difficulties that remain in removing capital controls and tackling high inflation; suggests that others could learn from the Icelandic model
BoE paper studies impact of Lehman’s collapse on payments
Bank of England working paper studies the effect of the Lehman Brothers collapse on wholesale payment patterns; finds slower payments and increase in risk following the default
RBI paper analyses exchange rate volatility transmission
Working paper assesses spillover of exchange rate volatility from international currencies to Indian rupee; finds volatility is dependent on foreign exchange rates and domestic policies
New York Fed appoints new head of markets group
Simon Potter named as chief of markets group and manager of the System Open Markets Account; begins new role on June 30
Brazil and China agree currency swap and deepen cooperation
Central Bank of Brazil announces agreement with China Banking Regulatory Commission to enhance exchange of information; governments agree to currency swap
Canada may withdraw monetary stimulus if growth remains on track, says Carney
Mark Carney lauds Canadian economy, says Europe must create a common banking union and believes global recovery relies on moving to an open, multi-polar international economy
Czech National Bank paper studies changing inflation dynamics
Working paper examines causes of changing inflation dynamics in central Europe; finds inflation expectations play a 'substantial role' in price stability
Bank of Finland paper assesses impact of eurozone crisis response
Discussion paper considers the effect of initiatives in response to the eurozone crisis on countries’ sovereign debt; finds some policy decisions had 'significant' short-term effect on bond markets
BoE’s Weale discusses monetary policy challenges
Martin Weale paints bleak picture of the global economy; says new Bank of England schemes should help to support the recovery
Fed paper examines balanced budget rules
Working paper considers whether balanced budget rules affect spending at different levels of government; finds rules impose discipline on the states but have little impact on federal spending