Central Banks
China focus remains on inflation fight
Prudent monetary policy to continue, says central bank; fighting inflation is still top priority
Norway SWF adds more London properties to portfolio
Norwegian Government Pension Fund Global takes 25% share in two London properties; move follows $700 million investment in London’s Regent Street
Lithuania’s Vasiliauskas calls for prudent lending standards
Bank of Lithuania chairman Vitas Vasiliauskas urges caution over lending standards in Lithuania as banks return to profitability
Asymmetric information amplifies borrowing costs: BIS paper
Bank for International Settlements study shows that higher spreads are charged to syndicates due to asymmetry of information in loan markets
Bric FDI important source of growth to LICs: IMF paper
Fund study highlights importance of Bric foreign direct investment in low-income countries’ development strategy
Asymmetry of monetary policy in new EU member states tested: Czech National Bank
A working paper from the Czech National Bank investigates asymmetry of monetary policy in new EU member states
Online banking poses challenges: RBI’s Padmanabhan
New executive director responsible for the IT, payment and settlement systems and foreign exchange department discusses challenges of online and telephone banking
Obama acknowledges AAA credit rating at risk
Obama says result of downgrade would be “like a tax on everyone” with higher interest rates; remains hopeful that there are “plenty of ways out of this mess”
Swiss National Bank posts large loss due to surge in currency
SNB records Sfr10.8 billion ($13.7 billion) loss for the first half of 2011; blames strong appreciation of Swiss franc
Asian Development Bank encourages regional policy cooperation
The Asian Development Bank wants to see increased regional policy cooperation to ensure more balanced and sustained growth in emerging East Asia
Questions raised over UK’s FX volume surge
Market participants attribute a range of factors to the 23% rise in FX turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
Turkmen central bankers jailed
Three central bank officials jailed; latest in long history of dramatics at the country’s central bank
Evolving UK and US macroeconomic dynamics investigated: Bank paper
Bank of England working paper uses model of deterministic structural change to chart the changing UK and US macroeconomic dynamics
Elderfield sets out the future of Irish banking
Deputy governor lays out plans to strengthen and restructure banks, improve governance and supervision and manage credit risk
Fed warns of Dodd-Frank clash with Basel III
Proposal to remove references to credit rating agencies conflicts with Basel III wording; Fed faces tough process to find alternative standards of creditworthiness
Bank’s Miles allays fears over economic costs of Basel III
Bank of England external Monetary Policy Committee member David Miles says Basel III requirements will not have negative bearing on economy, as long as the transition is gradual
Ireland copies UK in new central bank law
Central bank can now order financial services providers to have an independent expert prepare a report on any regulatory matter; similar to UK provision
Belarus new chief hails from biggest state bank
Nadezhda Yermakova leaves Belarusbank to take over as head of the central bank
Cross-border flows stalling in euro area: ECB paper
European Central Bank study highlights concerns over resumption in euro area cross-border financial flows
IMF paper observes heterogeneous interest rate pass-through
Fund study identifies factors that both facilitate and impede monetary policy pass-through to economy and financial markets
Draghi backs ‘consistent’ implementation of Basel III
In his foreword to a new book, Mario Draghi says consistent implementation of Basel III rules must be achieved
Lagarde sets out ‘four-C’ plan to keep IMF relevant
Christine Lagarde says IMF must focus on clients and connections, be comprehensive and credible; reform of voting system is a top priority