Articles by Central Banking Newsdesk
New York Fed report models herd behaviour
Fed staff report models financial market herding behaviour using NYSE transaction data; finds herding is “fairly pervasive” on some trading days
IMF paper examines capital flow management
Working paper considers methods of managing large-scale capital flows in Czech Republic, Poland and Romania; argues capital controls should not be used
Former Italian governor acquitted in market-rigging case
Antonio Fazio sees prison term for market-rigging regarding sale of Banca Nazionale del Lavoro in 2005 overturned; still facing jail in another case
Fed to release historical central banking material
Federal Reserve reveals plans to mark centenary; inventory of historical information about central banking in the US to be created
BoJ’s Shirakawa considers demographic change in Japan
Governor of Bank of Japan examines macroeconomic impact of aging population; emphasises that Japan need not accept a lower long-run growth rate
Sarb publishes Monetary Policy Review
South African Reserve Bank Monetary Policy Review notes continuing global uncertainty; central bank decides to maintain repurchase rate of 5.5%
ECB paper examines pre-Volcker monetary policy
Working paper sets out dynamic general equilibrium model to analyse Federal Reserve monetary policy; finds Fed policy pre-Volcker was more effective than widely thought
Bank of Italy paper analyses impact of organised crime
Working paper estimates counterfactual economic performance in the absence of organised crime; finds mafia presence lowers Italian growth path
Norges Bank assesses payments system
Annual Report on Payment Systems 2011 finds speed of payment transactions to be lacking; system in general is nonetheless efficient says deputy governor
New members admitted to BoE Court
Queen of England approves government recommendations; Bradley Fried, Tim Frost and Dave Prentis become non-executive directors of the Bank of England
Latvia governor assesses state of domestic economy
Bank of Latvia governor discusses developments in the Latvian economy as central bank leaves interest rates unchanged
BoE’s Broadbent examines rising cost of capital
External member of the Bank of England’s Monetary Policy Committee considers causes of rising capital costs; suggests fear among investors of ‘extreme outcomes’ in eurozone
Ireland central bank proposes changes to regulatory reporting
Central Bank of Ireland publishes consultation paper on regulatory reporting; proposes move to a new online reporting system
IMF paper relates fiscal consolidation and growth
Paper discusses relationship between fiscal consolidation and short- and long-run growth; warns that rapid consolidation can be harmful
BoE paper investigates banks’ implicit subsidies
Paper discusses models for attempting to quantify implicit subsidy available to banks via government bailout; estimates range from £30 billion to £120 billion
RBA governor criticises ‘dated’ payments systems
Glenn Stevens warns Australia has fallen behind other countries by not offering real-time electronic transfers; notes task the central bank faces in matching improved global regulatory environment
Americas’ regional FSB group discusses vulnerability and regional financial stability
Financial Stability Board Regional Consultative Group for the Americas discusses developments in global economy and methods of assessing vulnerability in fast-growing economies
Estonian governor awarded termination payment
Andres Lipstok will receive a full year’s salary when he leaves the Bank of Estonia next month; payment awarded in recognition of contribution to successful management of the central bank
IMF paper assesses welfare effects of monetary integration
Paper considers welfare effect of monetary union in Africa; finds significant benefits due to policy credibility and macroeconomic stability
BoJ minutes show unanimous support for further asset purchases
Minutes of Bank of Japan monetary policy meeting released; members vote unanimously to extend asset purchase programme
New York Fed article proposes capital regulation framework
Article suggests new framework for regulating capital; attempts to limit risk-taking while preserving creditors’ disciplining incentives
Bangladesh Bank governor praises strong export market
Governor of Bangladesh Bank highlights strong export market in Bangladesh; praises market’s resilience during financial crisis
Central Bank of Nigeria to build 'world-class' convention centre
Contractors invited to express their interest in submitting a tender to build a new 1,500-seat conference centre in Abuja; central bank wants “world-class” facility
Kansas Fed president supports bankers on boards of directors
Esther George says there is a place for bankers on Federal Reserve Bank boards of directors; but if they contravene the code of conduct, they should resign