Central Banks
Danish central bank calls for better liquidity management in payments markets
National Bank of Denmark urges market participants to reserve ‘adequate liquidity’ for payments settlement; breaks down ongoing modernisation of financial market infrastructure
Carney urges G-20 leaders to cooperate
FSB releases report on global progress toward ending too-big-to-fail as its chairman, Mark Carney, stresses importance of cross-border cooperation over global financial reforms for global trade
Regulators exempt forex swaps and forwards from initial margin rules
Working Group on Margining Requirements exempt forex swaps and forwards from initial margin rule for non-centrally cleared derivatives; offer a more restricted exemption for cross-currency swaps
Sovereign default spreads drove European bank risk exposures during crisis
Systemic risk of European banks reached its height in late 2011 at around €500 billion, based on a measure introduced in a recent Fed working paper
IMF paper finds less tail risk in immediate aftermath of QE
IMF working paper finds ‘strong evidence' that unconventional monetary policy led to a reduction in market uncertainty, in turn contributing to an easing in financial conditions
Fed struggles with same issues as 100 years ago, says Lacker
There has been a debate over which assets the Fed should hold since its founding in 1913, Richmond Fed president Jeffrey Lacker says
US takes lead in ending credit rating agency ‘hard-wiring’, says FSB
China, Indonesia and South Korea have made little progress in dealing with concerns about over-reliance on credit rating agencies; US takes the lead, followed by Europe, in reducing hardwiring of ratings in the financial system, FSB report finds
ECB's Mersch calls for clearer separation of powers in bank resolution framework
European Central Bank executive board member believes current agreement in Europe on a resolution framework - 'decentralisation plus discretion' - is 'the wrong combination'
Bank Negara Malaysia strikes deals with AFI and HKMA
Malaysian central bank joins forces with the Alliance for Financial Inclusion to develop global capacity-building programmes; will work with HKMA on offshore renminbi business development
Summers trails Yellen and Fischer in Central Banking Fed poll
Readers of CentralBanking.com make Janet Yellen first choice to succeed Ben Bernanke as Fed chair - with Stanley Fischer a strong second; Larry Summers joint third with Christina Romer
Corporate performance data central to understanding inflation dynamics
RBI's Deepak Mohanty says balance-sheet data enhances financial stability by shining light on corporate leverage ratios and unhedged foreign currency loans
Bank portfolios flush with long-term assets exposed to interest rate risk as rates rise
FDIC's Gruenberg says banks' asset quality and loan balances have improved and fewer lenders are failing, but reach for yield may pose problems as interest rates return to more normal levels
Tough tests ahead as Rajan prepares for RBI top job
Raghuram Rajan holds many of the skills required to govern the RBI, but he will face substantial monetary policy, governance and financial stability challenges, a new Central Banking article finds
Subbarao reviews success and failure in RBI valedictory speech
Outgoing governor Duvvuri Subbarao makes no apology for acting decisively in 2008, but says the RBI should have tightened policy faster in 2009; says bank is not targeting a level for the rupee
Prasarn hails prudent policies allowing Thailand to weather storm
Thailand's international reserves have meant the central bank has not had to raise interest rates to prop up the currency, says governor; hails ‘credible' monetary policy for ‘fostering growth and stability'
Decline in expected real interest rates 'key' to Japanese growth
Kikuo Iwata says inflation expectations will raise aggregate demand through the transmission mechanism of lower real interest rates; calls change in public mindset key to policy success
ECB looks to double the number of women in senior positions through quota
The bank is launching a ‘gender diversity action plan' to ensure 35% of mid-level management positions and 28% of senior positions are held by women by the end of the decade
People: Bank of Finland appoints head of monetary policy; Cleveland branch gets new vice-president
Tuomas Välimäki is Bank of Finland's new head of monetary policy and research; Guhan Venkatu takes over from Robert Schaub as president of Cleveland Fed's Pittsburgh branch; and more
Reserve accumulation enhances welfare if coupled with capital controls
Foreign reserve accumulation is part and parcel of a growth strategy based on strong capital investment in a financially constrained economy, according to a Banque de France research paper
Indonesia raises rates in unscheduled meeting to rescue the rupiah
Bank Indonesia raises interest rates in attempt to slow the fall in the value of the rupiah; observers fear the move will hit economic growth
Bank of Brazil hikes rates for the fourth time in as many months
Brazilian central bank deploys primary monetary policy weapon in a bid to hold back inflation and open another front to support the real, following intervention in the currency markets
Canada deputy says QE exit may be ‘more benign’ than critics fear
Despite Canada’s close ties to the US, Bank of Canada deputy governor John Murray believes tapering of Fed asset purchases will have less of a negative impact than many pundits fear