Central Banks
China prepares for MPC overhaul
State news agency reveals new members of monetary policy committee; all three are senior academics in the country
Fed releases stress test results early
Federal Reserve reveals results of latest bank stress testing two days early; finds majority of largest US banks would continue to meet expectations for capital adequacy despite large projected losses
Fed working paper studies inflation risk premium
New Federal Reserve Board working paper uses evidence from Treasury inflation protected securities market to investigate inflation risk premiums
ECB working paper proposes indicator of systemic stress
European Central Bank researchers outline a new indicator of contemporaneous stress in the financial system, called the composite indicator of systemic stress
Weidman explains plummeting Bundesbank profit
President of the Deutsche Bundesbank explains why profit dropped drastically in 2011; increased risks led central bank to boost buffers
Netherlands Bank working paper studies media impact on debit card use
Research finds “significant” impact of newspaper articles about skimming fraud on same day debit card usage
BoE’s Fisher warns of potential policy conflict
Paul Fisher describes potential for conflict between the policy decisions of the MPC reflecting desire to meet inflation target, versus the FPC's aim to maintain financial stability
BoJ to continue easing until it hits 1% inflation goal
The Bank of Japan says it plans to continue "powerful easing" until a 1% inflation target is in sight but rejects motion to increase its asset purchase programme by another 5 trillion yen
Hong Kong and Malaysia launch investment and settlement pilot platform
Hong Kong Monetary Authority, Bank Negara Malaysia and Euroclear Bank launch new pilot platform for cross-border investment and settlement of debt securities; culmination of work started in 2008
Draghi urges government action to spur recovery
President of the European Central Bank discusses internal and external eurozone competition and calls on countries to act during period of relative financial stability to advance economic reforms
Kenyan parliament clears central bank governor
Chaotic debates in Kenyan parliament result in Njuguna Ndung'u being cleared of personal responsibility over collapse of Kenyan shilling
SNB issues own-account rules; Danthine trades attacked
Swiss National Bank issues new rules on private financial transactions conducted by top management; Jean-Pierre Danthine attacked for forex trades done in May 2010
ECB compromise on Basel III adjustments gets mixed response
An ECB proposal for the European Systemic Risk Board to have oversight on whether European regulators can adjust Basel III for macro-prudential purposes gets a mixed response from central bankers
Esma under pressure on Emir implementation
A public hearing on Emir draft technical standards has left market participants concerned regarding both the implementation time frame and the asset classes covered by trade repositories and CCPs
US must get tough on China to fix imbalances, says Aliber
The US can reduce its government deficit and unemployment rate if it addresses the ‘predatory’ trading and currency policies of China and other Asian countries, says leading economist Robert Aliber
IMF readies €28bn in support of Greece
International Monetary Fund managing director Christine Lagarde plans to get funds approved this week; Isda rules debt restructuring a ‘credit event’
IMF paper looks at exchange rate volatility and currency pegs
Recent IMF research paper investigates the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes
Bank of Canada paper studies central counterparties in repo markets
New Bank of Canada discussion paper looks into impact central counterparties have on a model of a repo market; finds stabilising elements
Estonia data shows increases in travel service provision
Bank of Estonia reveals data gathered by tacking travellers' mobile phones
Bank lending 'steady' according to Central Bank of the Philippines
Latest data shows bank lending grew at a 'broadly steady pace' in January, central bank says