Central Banks
RBI sees repo market development as necessary to meet Basel liquidity rules
India central bank views repo as an increasingly important market in the wake of Basel III implementation
Norwegian governor wary of over-reliance on short-term debt
Øystein Olsen says Norway has weathered recent crises well, but points to possible vulnerabilities in the banking sector and wider economy
RBI’s Khan seeks balance between cost and safety in retail payments
Deputy governor hints that CPSS-Iosco Principles for Financial Market Infrastructures may need to be toned down in India to avoid clashing with financial inclusion programmes
Bullard slams Fed’s 2012 policy
St Louis Fed president criticises ‘relatively weak’ Federal Reserve policy in 2012, but says new measures have now stepped easing up a gear
Serbian director hints at possible easing in coming months
Head of National Bank of Serbia’s research department sees inflationary pressure easing and the Serbian economy returning to growth; says this may prompt cuts in the near future
Concern in the City over Vickers implementation
Participants at event in the City of London raise varied and numerous concerns about implementing the Vickers proposals in practice
World gold demand drops despite increased central bank purchases
Central bank purchases in 2012 reach highest level in 48 years, but Indian contraction leads global demand fall
European Commission sets out detailed Tobin tax proposal
Proposal would tax most transactions at 0.1% and derivatives at 0.01%; belt-and-braces approach to clamp down on tax avoidance draws fire from US financial lobby
Japan holds rates as GDP drop leaves analysts unfazed
Bank of Japan to continue 'aggressive easing' as long as it judges it appropriate; analysts remain bullish despite fall in GDP last quarter
Bullard revels in greater global certainty
St Louis Fed president says uncertainty is falling around the globe; should benefit growth in euro area, emerging markets and US
ECB’s Praet targets stronger ABS demand
Executive board member Peter Praet says the recovery of the market for asset-backed securities is essential for the provision of credit
Fed paper examines costs of trend inflation variance
Study finds an increase in the volatility of trend inflation imposes a modest welfare cost on the economy
Unorthodox monetary policy would not suit Hungary, says paper
Research finds that unconventional central bank instruments have successfully eased market conditions in developed countries, but would have little impact in Hungary
Fed’s Tarullo lays out regulatory priorities for 2013
Federal Reserve governor highlights a number of regulatory efforts planned for the coming year; says US is ahead of its peers in introducing a bank resolution framework
Hungarian governor publishes open letter in spat with audit office
András Simor publishes letter after state audit office 'transgresses its authority' in a study into monetary policy
Fed presidents back money market fund reform
Regional federal reserve bank presidents say money market fund reform needed to increase resilience and reduce susceptibility to runs, despite SEC objections
King insists economy must rebalance
Governor says Bank of England can still contribute to recovery but is running up an ‘ever steeper hill’; inflation report downbeat on growth and inflation prospects
SNB activates capital buffer in face of overheating mortgage market
Swiss National Bank applies 1% counter-cyclical capital buffer to mortgage lenders as imbalances in the real-estate market worsened in the second half of 2012
IMF issues reality check on European banking union
Researchers say it could take five years to fully implement banking union in Europe, and warn a piecemeal approach could actually make the situation worse
Bank of Lithuania swoops on troubled Ukio Bankas
Central bank suspends commercial bank’s operations after continual governance shortcomings
Draghi tells Spanish parliament to keep struggling on
ECB chief meets with members of the Spanish parliament and says painful reform efforts are beginning to bear fruit
Richmond Fed's Lacker urges policy-makers to take away the safety net
Richmond Fed president says Federal Reserve may have been too generous with support during the financial crisis; ‘living wills’ could put fear of failure back into banks
Philadelphia Fed president wants forward guidance in ‘normal times’
Charles Plosser says helping the public understand how the Fed sets policy in normal times will make forward guidance at the zero lower bound more effective
Finnish deputy stresses support for SSM within ECB
Pentti Hakkarainen says lack of co-ordination between central banks and supervisors is the biggest lesson of the financial crisis