Central Banks
Concentrated ownership in US means fewer jobs, lower pay – study
Chicago Fed research says resulting changes have not led to any commensurate rise in productivity
One in five central banks pays unrealised gains to government
Most central banks have a formal agreement in place for sharing profits with government
BoT says payment systems still in operation following earthquake
Powerful quake hits Myanmar and Thailand as Bangkok’s stock exchange suspends trading
Business models at heart of 2023 banking turmoil – research
Unrealised losses and uninsured deposits were not main drivers of crisis, Chicago Fed paper argues
ECB monetary policy spills over to US – Chicago Fed study
Resulting appreciation of dollar causes US leveraged loan investors to demand more compensation
Bank of Israel governor criticises budget
Yaron says tax rises will not be enough to offset increased military spending and lower debt ratio
Bank of Thailand to start choosing new governor ‘within days’
Sethaput Suthiwartnarueput’s term to end in September
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
EU debt wave raises dealer capacity concerns
Ongoing QT and upcoming defence spending piles pressure on bank balance sheet supply, say dealers
Agent-based models come of age
Central banks are increasingly modelling the economy as a complex system
US banks create ‘new payment rail’ with tokenised deposits
Custodia and Vantage launch what they say is first tokenisation of a dollar demand deposit
Ethiopia holds rates to tame inflation
Central bank says it aims to reduce figure from 15% to single digits in “medium term”
Bank Indonesia ready to stabilise currency, official says
Central bank could intervene in FX market again after rupiah almost hit record low
Hungary holds rates amid continuing upside risks to inflation
MNB points to geopolitical and trade uncertainty in explaining first policy decision under new governor
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
US life insurers more exposed to ‘risky’ debt than in 2007 – study
Fed research compares current situation to subprime exposure that preceded financial crisis
Borrower-lender ties key in policy transmission – BoE research
Stronger ties between banks and firms leads to weaker pass-through in low-rate environment, study finds
PBoC tweaks lending facility as framework reform continues
Chinese central bank phases out MLF’s role in monetary policy by allowing dynamic pricing
Default levels do not explain high US credit card rates – study
NY Fed paper shows levels of interest charged far exceed those for other loans