Central Banks
Bank of Slovenia forecasts economic contraction in 2012
Bank of Slovenia forecasts 1.2% contraction in 2012: revised budget in April expected to contain further fiscal tightening
IMF funding aids Sri Lanka in building reserves
Central Bank of Sri Lanka notes role IMF loans have played in helping build reserves in the country; latest tranche received on April 2
Nigerian central bank adds new departments
Central Bank of Nigeria creates new departments to 'enhance operations'; three new female directors appointed
RBA governor posits positive outlook as rates remain unchanged
Domestic demand in 2011 was highest rate for four years, says Glenn Stevens; inflation and borrowing also at trend as Reserve Bank of Australia holds rates
BOJ discusses dollar funding costs through forex swaps
Bank of Japan examines US-implied swap rates amid growing concern over European banks' funding
Carney looks east for export growth
Bank of Canada governor says Canada’s over-reliance on the US as an export market must change and more attention must be focused on emerging markets in the east
IMF paper studies decline in vertical fiscal imbalances
IMF working paper highlights reasons behind the decline in vertical fiscal imbalances in four European countries; says VFIs always come under scrutiny at times of fiscal austerity
ESRB supports flexibility in EU legislation
European Systemic Risk Board backs flexible approach in EU legislation governing macro-prudential policy
Bernanke stresses financial stability role of central banks
Fed chairman says central banks must treat financial stability and monetary policy as equally important; discusses new regulatory regime as he delivers final student lecture in series
Stark says contagion threat has been ‘overstated’
Former European Central Bank executive board member says risk of contagion in the eurozone has been “overstated” since the start of the financial crisis
Islamic Financial Services Board issues new guiding principles
New guidelines focus on liquidity risk management and stress testing for institutions offering Islamic financial services; new members added at latest meeting
HKMA settles on staff pay increase
Hong Kong Monetary Authority decides to raise staff wages by more than 5%; constitutes a larger increase than was awarded in 2011
Danish governor wants increased long-term financing for housing market
Nils Bernstein says longer-term refinancing options and greater use of two-tier mortgages would help stabilise the housing market in Denmark
IMF paper focuses on future of risk-weighted assets
International Monetary Fund working paper discusses the differing perceptions of risk-weighted assets and the measures that may remedy the imbalances in how these assets are perceived
Trinidad and Tobago governor calls for improved regional financial regulation
Ewart Williams believes the financial crisis should serve as a wake up call to the region; says increased legislation and supervision are needed
Israeli governor airs fears over impact of European slowdown
Stanley Fischer discusses European economic strife impact on Israeli growth prospects; expresses worries over possible methods for increasing defence budget
Central Bank of Iceland conducts dawn raid on fishing company
Icelandic officials carry out searches of fishing company Samherji’s offices; company calls for explanation
Eurogroup boosts emergency funding facility
European finance ministers agree to combine two emergency financing vehicles currently running simultaneously in the eurozone; also add €500 billion to lending capacity
Diverging views on US debt stimulate debate at NALM 2012
A difference of views emerged about the relative risks of US sovereign debt compared with alternatives during a panel discussion at NALM 2012 symposium on risk approaches in a post-crisis world
Reserve managers warned on risks of extending maturities
Central banks that are finding it harder to secure real returns from their liquid asset holdings should beware of market risks if they extend the duration of their holdings says NALM panellist
IMF facility not as good as own-funds, says Bank of Mexico’s Duclaud
Reserve managers in some developing markets believe own-country foreign exchange reserves are safer than IMF credit lines