Central Banks
BIS papers probe LatAm currency interventions
Working papers written by economists from each of five Latin American central banks and published by the BIS investigate the efficacy of various currency intervention strategies
Panellists hit out at Fed’s forward guidance in CBP debate
Federal Reserve gets mixed scorecard for its extraordinary monetary policy and communication performance, according to panellists in Central Banking On Air debate
ECB seeks women to fill four senior economics vacancies
Re-organisation in the ECB's directorate general for economics creates four vacancies for head of division; new targets means bank will want to hire women to the male-dominated department
IMF greenlights new wave of funds for ‘resolute' Cyprus
New IMF report says most conditions have been met with a ‘comfortable margin' but warns that the banking crisis' impact on households and corporates could be larger than anticipated
ECB to relax CCBM collateral deposit rules from May 2014
Benoît Cœuré says the rule change will pave the way for support of cross-border, tri-party collateral management services from September next year; warns Sepa deadline looks tight for many
BoE appraises forward guidance as economy picks up
Bank of England MPC believes that market participants demonstrated an ‘increased understanding’ of the link between monetary policy and unemployment in the run up to its September meeting
Hungarian economists wary of foreign bank branches
Researchers are concerned that a shift away from foreign bank subsidiaries to branches increases the risks of inadequate supervision and threatens financial stability both at home and abroad
BIS research dismisses fears over high-quality asset shortage
Article says increase in high-quality assets appears sufficient to meet rising demand, but risks could still come from elsewhere
Minutes reveal Riksbank reluctant to give up say on macro-prudential matters
Deputies say democratic accountability is more about who has the right to make decisions than achieving policy objectives; see ‘clear link' between macro-prudential policy and monetary policy
BoE's Tucker clarifies FPC's macro-prudential powers
Article gives details of the inner workings of the Financial Policy Committee, including powers of direction and recommendation, its accountability and powers to hide information from the public
Robert Pringle’s Viewpoint: Looking for a game-changer for the financial system
The world may need to look to central bank governors in countries such as China and India to champion reform of the global monetary architecture
Publishing minutes is vital for central bank comms, say markets
Market participant survey gives Fed highest score for policy and communication in the wake of the financial crisis; ECB scores worse in the absence of published minutes
Africa leads growth in financial inclusion, finds IMF study
Most comprehensive financial inclusion data set to date highlights rapid expansion of financial access in Africa; emphasises close links between growth and SMEs' access to finance
IMF backs counter-cyclical fiscal activism in times of crisis
Fiscal stimulus had powerful effects in the wake of the financial crisis, but monetary policy is better suited to keeping the economy on an even keel in normal times, says IMF
BIS research finds capital requirements had minor impact on bank lending
Quarterly review article presents evidence that banks have adjusted to higher capital requirements mainly via retained earnings, rather than by cutting lending, with less of a macroeconomic impact
Central banks behind curve on innovation, says World Payments Report
Central banks are struggling to keep up with rapid growth of innovative new payment systems, report warns; risk to European firms that regulation will cause mobile payments to fall behind
Croatia under threat from falling growth and rising debt
Public debt is capped at 60% but is now approaching that limit; there are further signs of weakness in the Croatian and European real economies
RBA looks to exchange rate
The Reserve Bank of Australia keeps the door open for further rates cuts but emphasises that a weaker currency ‘would be helpful’ in boosting demand
A sad ending to Summers versus Yellen
The politicisation of the debate over who should be the next chair of the Federal Reserve may be a sign of the times, but it is a sad day for central banking, argues Thomas Cargill
Inaugural Central Banking Awards deadline extended
Central banks and market practitioners have one more week to submit their work for consideration in the Central Banking Awards 2013