Financial Stability
Sarb’s Mminele on policymaking in volatile markets
South African Reserve Bank deputy governor Daniel Mminele discusses challenges for policymakers in uncertain financial markets
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
Draghi calls for EU law to govern bail-in powers
Financial Stability Board chairman Mario Draghi says measures to enable bondholders to receive haircuts before the collapse of a financial institution should be placed in European Union legislation
Wellink clarifies position on Greece restructuring
Media reports suggest Netherlands Bank president Nout Wellink is open to a debt restructuring for Greece; central bank spokesperson denies suggestions, says president’s views remain in line with European Central Bank
SNB turns profit in first quarter following steep loss in 2010
First quarter profits likely to come as relief after criticism that greeted $20.7 billion loss in 2010
Turkey’s Yilmaz explains motivation behind policy strategy
Central Bank of Turkey governor Durmuş Yilmaz says combination of liquidity management facilities, reserve requirements and policy rates will help achieve price and financial stability in Turkey
HKMA’s Pang warns of hot pockets in emerging Asia
Hong Kong Monetary Authority deputy chief executive Peter Pang highlights policymakers’ concerns of growing capital inflows in emerging markets
Bulgaria ordered capital hikes, report released
Bulgarian National Bank publishes 2010 Annual Report; asked three banks to increase capital
IMF urges emerging markets to tighten monetary policy
IMF Regional Economic Outlook for Asia report says emerging market central banks must tighten monetary policy to stave off inflation; acknowledges limitations of monetary tools
Central banks continue to purchase gold
World Gold Council releases first Gold Investment Digest of 2011; shows central banks are still net buyers of gold in Q1
Finland’s central bank unveils first volume of official history
Bank of Finland publishes first of two-part history; describes how governor fought to stabilise national economy during the Great Depression
IMF paper builds US, euro area financial conditions indexes
Fund paper creates financial conditions indexes to forecast economic activity in the US and euro area
West African central bank reopens offices in Ivory Coast: reports
West Africa’s regional central bank resumes operations in Ivory Coast
ECB – Euro Area Bank Lending Survey (April 2011)
European Central Bank April 2011 euro area bank lending survey reports moderate tightening of credit conditions in region
Hong Kong plans to regulate credit-rating agencies
Hong Kong announces it will begin regulating credit-rating agencies from June; agencies and analysts must apply for licences
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
National Bank of Belgium – Consumer Survey (April 2011)
National Bank of Belgium April 2011 Consumer Survey shows pick-up in consumer confidence in April
Financial cycles have strong economic implications: IMF paper
Fund study examines whether the close correlation between business and financial cycles is synchronised or coincidental
Bank of England – Trends in Lending (April 2011)
Bank of England’s Trends in Lending April 2011 report finds evidence of a contraction in UK bank lending
Role of Fannie, Freddie failure in crisis has been underplayed: ex-Fed’s Warsh
Recently departed governor Kevin Warsh tells Central Banking that decision to take government-sponsored enterprises into state ownership had significant ramifications
Greece’s Provopoulos urges step up in public reforms
Bank of Greece governor George Provopoulos calls for government to boost Greek reform policies
Overdraft surveys reduce balances in the red: Philly Fed paper
Philadelphia Federal Reserve study examines impact of overdraft surveys on bank balances
BoE stability committee sets June date for first meet
Bank of England’s Financial Policy Committee to meet in mid-June; governor to hold press conference
Lithuania’s new governor outlines challenges ahead
Well-balanced, sustainable growth the priority, Vitas Vasiliauskas, new governor of the Bank of Lithuania, tells CentralBanking.com; plays down meeting Maastricht criteria