Central Banks
Wheeler shines a spotlight on housing supply
Reserve Bank of New Zealand governor Graeme Wheeler says restrictions on high loan-to-value mortgages will alleviate house price increases, but the bigger issue is housing supply
National Bank of Denmark governor highlights housing concerns
Lars Rohde says investor confidence in the creditworthiness and liquidity of mortgage bonds is ‘at the core' of the Danish mortgage credit system
Canadian yields shown to be less sensitive to data shocks than US or UK
Working paper from the Dutch central bank shows that at the zero lower bound, Canadian government bond yields are less sensitive to surprising domestic data than US or UK equivalents
McDermott reveals drop in New Zealand’s neutral rate of interest
Reserve Bank of New Zealand assistant governor says households and businesses should expect to face lower rates ‘on average’ in the future relative to before the crisis
Basel III requirements could clash with new bail-in rules, warns IMF
Increased pressure on banks to rely more heavily on collateralised debt could combine with ‘depositor preference' rules to raise funding costs at a time when credit conditions remain tight
UK prepares for mobile payment apps
The Payments Council is launching a new mobile payments platform in the UK in 2014, and seminar participants discussed the challenges it will face
ECB's counsellor to the president crosses lines to Axa
Christian Thimann moves from central bank to financial services giant; takes on responsibilities as group head of strategy and public affairs
BoE’s Fisher happy to hold QE ‘in reserve’
Executive director says the ‘dramatic turnaround’ in economic data has alleviated the need for further asset purchases; insists the UK is not in the midst of a housing bubble
ECB holds rates but leaves new LTRO on the table
European Central Bank governing council decides against further rate cuts in Paris, but Mario Draghi says all options remain on the table to ensure money markets remain liquid
Global banks reduce frictions in international capital flows, say NY Fed staff
NY Fed staff report findings are consistent with research on reduced incidence of crises in local markets where banks have branches or subsidiaries; effects appear to be heterogeneous
Kazakh governor replaced for 'family reasons'
Long-serving central bank governor Grigory Marchenko steps down in favour of deputy prime minister Kairat Kelimbetov
Banknotes worth $2m stolen from Swiss printer
Investigation under way into theft of incomplete Sfr1,000 notes that subsequently entered circulation as counterfeits
Bank of Italy copycat website closed
A replica of the Bank of Italy’s website has been shut down by the Italian authorities over fears it was seeking to illegally obtain internet users' personal data
Bank of England proposes new stress test regime
Deputy governor Paul Tucker says new framework will boost confidence in the UK financial system and help ensure the Bank is publicly accountable for its financial stability operations
Reserve managers continue advance into Canadian and Australian dollars
IMF's latest Cofer data displays increasing popularity of Canadian and Australian currencies as reserve assets, while the euro reverses a previous decline
BoE's financial policy committee publishes latest minutes
UK macro-prudential regulator says it will prioritise medium-term capital framework for banks, ending ‘too big to fail', and transform shadow banking
RBA's Stevens complains of strong currency as rates stay on hold
Statement indicates frustration with Australian dollar strength as rates remain at 2.5%; analysts eye fundamentals approaching possible cut in November
ECB research examines ‘inverted V’ yields around bond auctions
Working paper finds yields spiked around auctions during crisis-hit Italian bond issues, creating additional costs for the government that Germany did not face
Italian deputy warns of political pressure on central banks
Salvatore Rossi says central banks’ increasing responsibility for financial stability makes them a ‘perfect target’ for both lobbyists and politicians
IMF warns Italian financial sector is ‘not out of danger'
Assessment finds Italian financial sector to have shown ‘remarkable' resilience, but slender profit margins and worsening loan quality have led to ‘pockets of vulnerability'
HKMA reviews progress on global financial regulation
Bulletin article outlines the stabilisation options that member jurisdictions should have access to in the event that a too-big-to-fail bank does just that
Bank of Spain director general resigns
José María Roldán Alegre resigns after 12 years at the head of the Regulation and Financial Stability department; replaced by Julio Durán Hernández, currently director of the governor's office