Central Banks
Netherlands Bank paper discusses pricing policies in payments markets
Netherlands Bank study says policy on payments systems should be orientated towards improving competition rather than influencing price dynamics
Nigeria rolls out ‘cash-less’ Lagos project
Central Bank of Nigeria issues clarifications as cash-less society is introduced in Lagos; reassures public that cash transactions have not been eliminated altogether
Obama nominates two new members to Fed board
Former undersecretary of the Treasury Jerome Powell and Harvard economist Jeremy Stein put forward to fill vacant seats on Federal Reserve Board of Governors; need Senate backing
CentralBanking.com review of 2011
Round-up of 10 of the leading news stories in 2011
ESRB urges swift implementation of emergency measures
European Systemic Risk Board sends strong message to European heads of state to fulfil terms of eurozone agreements; new appointments to board’s Advisory Scientific Committee
RBNZ vows to aid transition to new retail payments system
Reserve Bank of New Zealand to reduce cost of overnight borrowing for three months as banks shift to new settlement before interchange system
Malaysia launches new banknote series
Bank Negara Malaysia reveals designs and security features of five denominations in new currency series
Riksbank appoints new head of general secretariat
Former head of Riksbank’s monetary policy department Anders Vredin replaces Kai Barvèll as head of general secretariat
Zeti reveals new strategy for financial system
Bank Negara Malaysia governor Zeti Akhtar Aziz says growth of financial sector in Malaysia will accelerate under new blueprint
Rise in terms of trade not always inflationary: RBA paper
Reserve Bank of Australia study says floating exchange rates act as an important buffer to external shocks that influence terms of trade
Capital controls are second-best policies: IMF paper
Fund study examines the new economics literature on prudential capital controls and finds the tools can help reduce financial instability
ECB receives strong demand for three-year liquidity
European Central Bank extends €489 billion in loans to banks in its first three-year liquidity operation. But analysts believe the measures will do little to ease funding pressures in the eurozone
Barroso urges Hungary to drop controversial bill
European Commission president Jose Manuel Barroso challenges Budapest over proposed amendments to National Bank of Hungary law; central bank raises rates by 50 basis points
Sepa migration deadline pencilled in for 2014
European Union says migration end-dates for credit transfers and direct debit to Single Euro Payments Area will be February 2014
Bank of Italy selects Rossi to join governing board
Bank of Italy names secretary-general Salvatore Rossi as deputy director-general, filling seat left open by governor Ignazio Visco on central bank board
BoE minutes leaves option open for additional stimulus
Bank of England minutes shows MPC members believe further quantitative easing may become warranted as economic outlook deteriorates
IMF paper identifies weaknesses in Central America's supervisory practices
Fund study says there is considerable scope for Central American countries to enhance financial supervision and regulation
BIS paper warns of risks from long-term interest rate volatility
Bank for International Settlements study cautions against the use of long-term interest rates as a policy variable
Demand shocks strongly influence eurozone profit levels: ECB paper
European Central Bank study shows reaction to demand shocks explains variation in profit growth across countries in region
Interview: Harry Newman
Swift’s head of market initiatives for Europe, Middle East and Africa explains how its new RTGS back-up, the new Market Infrastructure Resiliency Service, will work
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Sweden lowers benchmark rate for first time in two years
Riksbank announces a drop of 25 percentage points to the repo rate; first time the rate has been reduced since 2009