Central Banks
Core inflation not best predictor of price movements: Philly Fed paper
Philadelphia Federal Reserve study shows core inflation is not as good a predictor of future inflation as policymakers claim
FSB probes deposit insurance response to crisis
Financial Stability Board launches peer review of deposit insurance systems; highlights cross-border relations and crisis response
Fed extends temporary dollar swap lines again
Canada, UK, Switzerland and ECB prolong arrangements; Japan to decide soon
Eurozone authorities are losing credibility – CNB’s Singer
Credibility is key in crisis resolution and European authorities are failing to achieve, warns Miroslav Singer, the governor of the Czech National bank
BIS sees profits plummet
Annual report shows net profit falls to “more normal” level after record amount last year
Basel Committee will not impose CoCo requirement for Sifis
Basel Committee proposes a staggered common equity capital surcharge for systemically important banks, but steers clear of contingent capital
Kenya overnight lending rate leaps in unscheduled move
Overnight lending rate raised to 8%, 175 basis points above the benchmark central bank rate
Sri Lanka allows renminbi in international transactions
Central Bank designates renminbi for banking transactions in Sri Lanka; next step in internationalisation of the Chinese currency
RBI’s Chakrabarty on IT initiatives
Reserve Bank of India deputy governor KC Chakrabarty describes vision for new IT reforms in banking sector
Strong financial conditions ease sale declines: Fed paper
Federal Reserve study shows firms in good financial condition experience a smaller decline in sales during the crisis
Bank of Italy paper on impact of conservative central banking
Bank of Italy study identifies three strategic channels through which central bank conservatism influences wages
Norges Bank - Payment Systems Annual Report (2010)
Norges Bank 2010 Payment Systems Annual Report says payments should be made more swiftly, securely and at a lower cost
Greece austerity measures pass vote
Greece averts default as parliament passes €28 billion austerity bill; government set to receive €12 billion lifeline from EU and IMF
European stress tests not complete; EBA’s Enria
European Banking Authority chief says speculation on results of European stress test are “completely unfounded”
Lagarde takes on top IMF role at challenging time
IMF selects Christine Lagarde as managing director; she takes the helm as Fund criticises US
Regulation reform dominates British Bankers’ Association conference
Regulatory reform causing concern for all involved; any changes made must be the right ones, say speakers at the BBA Annual International Banking Conference
BoJ’s Shirakawa on how to address tail risks
Bank of Japan governor Masaaki Shirakawa says public involvement is crucial in addressing tail risks
NY Fed’s Dudley on development of bank stress tests
New York Federal Reserve president William Dudley says development of stress tests is an ongoing process
Inflation targeting reduced severity of crisis in Turkey: Fund paper
Fund study shows adoption of inflation targeting and flexible exchange rate regime reduced impact of financial crisis in Turkey
OECD says crises will continue to occur
Organisation for Economic Cooperation and Development report warns crises are likely to repeat themselves as the global economy becomes more interconnected
Afghan deputy attorney general pursues central bank governor
Afghan deputy attorney general issues international arrest warrant after Abdul Qadeer Fitrat resigns and flees to the United States; action comes amid Kabul Bank scandal investigation