Central Banks
Central Bank of Sri Lanka launches national electronic payments system
The scheme, which will allow customers to withdraw cash from any ATMs of participating banks, is similar to one announced by the Palestinian Monetary Authority earlier this month
Central Bank of Nigeria ‘masterstroke’ aims at two-pronged tightening
Move to raise cash reserve ratio to 50% on public sector deposits represents ‘significant tightening' by the central bank, which left interest rates unchanged
BoE bows to persuasion as Austen proves banknotes not just a man’s field
English author will replace Charles Darwin on UK £10 note in 2017; campaign against central bank also yields review into the criteria used for character selection
BIS international banking stats show advanced and emerging market divergence
Claims on banks in advanced economies continued to fall in the first quarter of 2013, while in emerging markets they bounced back
Dutch paper quantifies impact of FOMC guidance on market rates
Working paper says Fed forward guidance lowered market interest rates up to seven years ahead; flattened yield curves in markets for US Treasuries and eurodollar futures
Hungarian central bank signals rate cut slowdown
Monetary council cuts benchmark rate by 25 basis points for 12th consecutive meeting; says global volatility may justify a change in pace in coming months
Nalm Asia 2013: Asia ‘not shaken' by QE exit talk, says the Philippines' Tuano-Amador
A combination of macroeconomic and macro-prudential tools should enable policy-makers in Asia to deal with large fund flows linked to an end of quantitative easing, says Philippines assistant governor
Collateralisation of borrowing may reduce bank resolution costs
This ‘net benefit' should result in lower overall funding costs and thus a lower probability of distress despite increasing encumbrance of the bank's balance sheet, according to a recent IMF paper
RBI deputy sets out Reserve Bank strategies to fund urban infrastructure development
Reserve Bank is tweaking regulation to ensure finance can get through to urban infrastructure projects; urbanisation is ‘an important determinant of national economic growth and poverty reduction'
Singapore brings inflation back in range, but household debt worries persist
Monetary Authority of Singapore warns a return to normal global monetary conditions will carry risks; says 'some' households will be at risk when interest rates rise as US tapers quantitative easing
Turkish rate rise brings easing to an end
Central bank increases overnight lending rate by 75 basis points; MPC signals willingness to tighten further as inflation jumps above 8%
ECB paper says monetary transmission ‘far stronger’ in some eurozone countries than others
Interest rate changes have greater impact on bank lending in Germany and Italy than in countries with fewer commercial banks such as Spain and France
Richmond Fed paper examines sovereign debt duration
Working paper models trade-off between issuing shorter or longer-term debt; governments could be choosing the wrong durations by missing the ‘debt dilution’ problem
G20 governors and governments put employment and growth centre stage
Meeting of G20 central bank governors and finance ministers make growth and jobs their top priority; monetary policy should ensure price stability and support economic recover within mandates
Gilt yields rose by 50bps across the yield curve in Q2, BoE report shows
The increase reflected in part a rise in sovereign bond yields across a number of developed countries
BoE publishes code of conduct for ‘local recycling' of cash
Code sets out banknote authentication standards for businesses that self-fill their ATMs or self-service check-outs using banknotes tended by members of the public
Irish central bank waives €5 million penalty but faces legal action of its own
Central Bank of Ireland hands failed insurance company a reprieve ‘in public interest’; now being taken to court by family of the company’s former owner
Czech paper examines interbank risk premium
Research finds counterparty and liquidity risk are ‘potentially significant determinants’ in the departure of interbank rates from key policy rates in Czech Republic
BoJ policy board member signals possibility of further measures
Takehiro Sato says the Bank of Japan could employ additional policy tools in its bid to double the monetary base; Abenomics gets public backing in parliamentary election
Eurozone core ‘regain net influence’ over bond markets, finds Irish paper
Technical paper examines spillovers in the eurozone’s sovereign debt markets; finds the impact of stressed countries on the wider region has diminished
PBoC removes lending rate floor
From tomorrow, Chinese banks will be able to price loans as low as they like - but in the short term the effect is unlikely to be felt as loans are generally priced above benchmark rate