Articles by Dan Hardie
Irish central bank may spread higher levy on finance industry over time
The Central Bank of Ireland may spread the proposed increase in its annual levy on the financial industry over several years, but it still backs the call for non-banks to meet 100% of costs
Irish deputy Stefan Gerlach steps down early
Academic economists praise Gerlach, who was seen as ‘outside appointment’ who improved bank’s research and data provision; deputy had decided not to apply for governorship
Belgian and French central banks get larger role buying asset-backed securities
The ECB makes the National Bank of Belgium the second central bank authorised to buy bonds under its asset-backed securities purchase programme; Banque de France role expanded
Moldovan officials attack use of central bank as 'scapegoat'
Governor and first deputy of Moldova's central bank attack 'attempts at a government level' to delay banking investigation; will remain in place for three months 'unless replaced'
Moldovan governor and first deputy resign as banking scandal intensifies
Governor and first deputy resign but will stay on to assist incoming IMF team; Dragutanu attacks local politicians for handling of ‘loss’ of an estimated $1 billion from commercial banks
Riksbank research suggests inflation correlated with policy rate in some cases
Research by two Swedish economists uses the work of Irving Fisher to illustrate how low policy rates might be leading to low inflation in some countries; cites Irving Fisher for causal explanation
ECB allows national central banks to disclose ELA provision
Bank of Greece becomes first central bank to make use of power to disclose ELA figures
Bank of Portugal suspends Banco Novo sale
Portugal's central bank has halted the planned sale of Novo Banco, the good bank created after the collapse of Banco Espirito Santo, citing unsatisfactory bids
Bank of England chief economist hosts Twitter session
Andrew Haldane calls for debate on future of banking regulation ahead of central bank’s ‘Open Forum’
Ukraine central bank awaits wider regulatory powers
Ukraine’s central bank has achieved significant reforms of the banking sector, but needs a draft law to pass to gain the power necessary to regulate the non-bank sector, World Bank analyst says
Irish central bank restructures monetary policy department
Central Bank of Ireland will appoint two new senior members of staff in the process; one analyst suggests the changes will help sustain contributions on European stage
Hungary aims to implement LCR ahead of schedule
Announced timetable is quicker than the minimum outlined in Basel III and the accelerated timetable agreed under the capital requirements directive
South African central bank open to currency intervention
Chinese devaluation stokes fears of further currency falls in economy vulnerable to exchange rate shifts
Iranian central bank should not recover assets, US government argues
The department of justice has argued in a submission to the Supreme Court that Iran’s central bank should not recover $1.75 billion in assets awarded to the families of terrorism victims
Russian governor seen dissuading private sector from large dollar holdings
Russian central bank governor Elvira Nabiullina reportedly joined prime minister Dmitry Medevev in telephoning banks and major export companies about their holdings of dollars
Venezuelan inflation still running at over 700%, expert says
Venezuela’s central bank appears to be unable to make any impact on soaring inflation levels and has not reported an inflation number this year, says Steve Hanke
Leverage is key factor in threat posed by bubbles, study finds
A San Francisco Fed study of 17 bubbles over the past 140 years provides empirical support for the idea that leveraged bubbles have most potential for damage
Falling real rates put US ‘at risk of financial instability’, says Kocherlakota
Minneapolis Fed president warns that long-run real interest rates are falling and risk causing financial instability and ineffectual monetary policy
Central bank restricts lending at half of Ireland’s credit unions
Ireland’s central bank has restricted lending at the country’s credit unions and appointed external auditors to discover the true state of lending in the industry
RBI licenses prospective mobile phone bankers
India’s central bank grants provisional licences to 11 companies to run mobile phone-based banking for poorer Indians
Nigeria’s efforts to support currency could unravel
Nigeria’s central bank governor is imposing strict capital controls to cope with the country’s slumping oil revenues but analysts predict naira devaluation is only a matter of time
Turkey keeps rates level as lira hits dollar low
The Turkish central bank voted to keep its key policy rate unchanged despite a rapidly depreciating currency; under strong public pressure from Turkey’s president and his party
Argentine central bank denies falsification as presidential challenger attacks governor
The conservative challenger in Argentina’s presidential election has attacked the central bank’s governor while the bank has denied newspaper charges of falsifying US dollar trading figure
People: Wilson follows Harker to Philadelphia Fed; ESM promotes two
Patricia Wilson follows Joseph Harker to the Philadelphia Fed to take over as chief of staff; ESM promotes risk and economic analysis deputies to top jobs; and more