Articles by Central Banking Newsdesk
ESRB encourages cooperation to fight market deterioration
European Systemic Risk Board sets out areas authorities must focus on; Ewald Nowotny announced as newest steering committee member
Sri Lankan central bank blasts rating agency assessment
Central bank expresses 'grave concern' over statement from Standard & Poor's regarding state of banking sector in the country; rating agency noted 'very high risk' in institutional framework
Bernanke says Fed ready for QE3 if necessary
Fed chairman explains FOMC decision to maintain rates and extend Operation Twist; says Fed is ready to make more asset purchases if necessary
Reserve Bank of India's governor defends policy stance
Duvvuri Subbarao responds to critics of the RBI’s tight monetary policy; says central bank’s actions are justified despite supply shocks and slowing growth
IMF paper assesses impact of financial sector size
Working paper examines the effect on growth of varying sizes of financial sectors; finds that above a certain threshold, financial sectors have a negative impact on growth
BoE’s Jenkins discusses threats to financial system
Financial Policy Committee member considers dangers facing the global financial system; says future interventions to stabilise cross-border capital flows are likely
Fed extends Operation Twist to end of 2012
Federal Open Market Committee to continue programme to lengthen average maturity of its holdings of securities; target range for federal funds rate maintained at 0-0.25%
Lagarde welcomes additional IMF funding
Christine Lagarde praises countries pledging additional $456 billion to the IMF; says funds will only be used as a “second line of defence”
ECB paper models endogenous credit risk
Working paper discusses models of credit risk; authors argue that “feedback effects” have major implications for regulatory reform
Czech National Bank reports resilient financial system
Financial Stability Report finds Czech financial sector well prepared for unfavourable external developments; says growth likely to stagnate in 2012
Bank of Israel review shows mixed economic outlook
Review of economic developments gives mixed assessment of economic outlook; says growth below potential but inflation on target
Norwegian governor discusses fund risk rebalancing
Øystein Olsen considers need for pension fund to rebalance its portfolio in response to changing risk; argues that rebalancing is justified
Role of FSB ramped up as Carney updates G-20 on progress
Financial Stability Board to gain legal footing under Swiss law; Carney reports “good” progress on implementation of financial reforms but says more to be done
UK ‘catching up’ on collateral eligibility, say CBP panellists
Central Banking ON AIR event sees discussion of central bank decisions to extend collateral eligibility; panellists stress diversification should be executed with care in non-crisis times
JP Morgan losses will be considered in Volcker rule finalisation, says Fed official
General counsel of the Federal Reserve says new comments have been received regarding the Volcker rule since JP Morgan losses were revealed; views will be considered as rule is finalised
UK inflation unexpectedly drops again
Office for National Statistics reveals CPI annual inflation fell this month; leads to renewed QE expectations and predictions of on-target inflation figure by the end of the year
Papua New Guinea welcomes mobile banking advances
Governor of the Bank of Papua New Guinea has 'no objection' to use of mobile banking product in the country; hopes system will improve financial services for unbanked population
Romanian governor examines monetary policy transitions
Mugur Isărescu considers changes to Romanian monetary policy in response to changing economic environment; says policy requires an understanding of theory but must be grounded in economic reality
IMF paper builds dynamic model of systemic risk
Working paper develops dynamic model of risk based on combination of underlying risk factors; finds this provides better warning signals than models with non-dynamic thresholds
New Zealand’s McDermott emphasises inflation targeting success
Reserve Bank of New Zealand assistant governor highlights success of central bank’s inflation targeting policy; says there is still room for improvement
Finnish business survey reports improvement in financing
Bank of Finland business survey reports slightly higher number of enterprises gaining new private external finance; but many small businesses still experiencing funding problems
Syrian governor addresses banknote printing rumours
Adib Mayyaleh says new notes are produced only to replace worn-out ones; slams reports that extra currency has been added into circulation
ECB’s Cœuré urges ‘revival’ of money markets
ECB policy-maker says money markets are “vital” to the financial system; discusses steps that should be taken to reduce risk concerns to restore activity
RBI holds rates fearing impact of further QE abroad
Reserve Bank of India says another round of quantitative easing in advanced countries would have an adverse impact on growth and inflation; keeps rates on hold in anticipation