Central Banks
CPSS, Iosco and FSB publish reports on FMIs
CPSS and Iosco says member states are making ‘substantial progress’ towards establishing their principles for financial market infrastructures; FSB offers new guidance for resolution
RBI launches ‘open-ended' measure to bolster weakening rupee
Weekly sales of short-term debt to absorb liquidity is the latest in a string of attempts to rein in Indian foreign exchange volatility
Fed's Fisher reshuffles senior team; RBNZ gets new directors
Harvey Rosenblum, who has attended more FOMC meetings than any other active participant, retires from Dallas Fed, causing a senior re-shuffle; New Zealand appoints two directors to Reserve Bank board
Blejer heads up new Bank of Israel shortlist
Former Central Bank of Argentina governor is new front-runner for the Bank of Israel top job; former Israeli deputy Zvi Eckstein also submits application
Opinion: The ECB should not hold back from eurozone bond purchases
There is no danger in the ECB buying large amounts of eurozone government bonds to bolster market confidence – so long as the right conditions are met – says Natixis chief economist Patrick Artus
Competition makes mutuals safer, commercial banks riskier
Bank of Korea research paper shows higher concentration in a less competitive loan market has increased default risks of mutual savings banks since the recent crisis
Spanish paper preaches caution over DSGE models
Researcher finds that DSGE models would not have proved any more use to policy-makers in the 1970s than their ‘old-style’ Phillips curves; warns against putting too much faith in their prescriptions
Bundesbank paper says media exposure shapes inflation expectations
Discussion paper examines how and why inflation expectations differ between the German population; where people go for news is an important factor
Getting to grips with monetary policy?
Global co-operation on monetary policy remains out of reach
Europe could learn from Germany’s macro-prudential approach
Germany’s approach to macro-prudential oversight could offer insights into how to democratise ‘hard’ policy tools and enshrine independence at a time when more power is being transferred to the ECB
Central bankers should be wary of their political bargain with government
Central bankers appear ‘spellbound’ by governments keen to give them new regulatory powers despite concerns about their ability to deliver either stable monetary or financial policy in the future
ECB conflicted by Cyprus bail-in
The ECB’s failure to secure a bail-out for the Cypriot banking system changes the template for sovereign rescue in the eurozone. It also has implications for a central bank that appears conflicted
BIS calls for monetary tightening not heeded by major central banks
The BIS's latest annual report voices the private concerns of the world’s leading central bankers. But it falls short on action that will hold national governments to task
Central Bank of Peru’s Julio Velarde on the impact of Fed tapering
Peru is more insulated against shocks to its financial system than in the past but managing uncertainty has never been tougher, Central Bank of Peru governor Julio Velarde, tells Christopher Jeffery
The PBoC, the liquidity squeeze and market liberalisation
The PBoC was accused of poor communication and inaction when interbank rates spiked in June. But Hui Feng believes the central bank wanted to give regulated financial institutions a warning
A status report on Dodd-Frank and the Volcker rule
As the US and Europe move closer to co-operating on derivatives legislation, Vembar Ranganathan looks at the status of Dodd-Frank implementation aimed at curbing excesses in the derivatives market
HKMA primed for mobile payments surge
The Hong Kong Monetary Authority is enhancing the legal and supervisory framework needed for the safe development of retail payments for its echnology-savvy population
Bank of Lithuania’s Vitas Vasiliauskas on Europe’s push to banking union
As Lithuania takes on the presidency of the European Union, Bank of Lithuania governor Vitas Vasiliauskas speaks with Daniel Hinge about the efforts to end the euro crisis