Central Banks
Interest rate less volatile with more transparency: NY Fed paper
New York Federal Reserve study says greater central bank transparency reduces interest rate volatility
ECB’s González-Páramo paints picture of post-crisis policy framework
European Central Bank executive board member José Manuel González-Páramo outlines new elements of the post-crisis financial system norms
Fed took 'gamble' with QE: Reinhart
Federal Reserve former director of monetary affairs Vincent Reinhart pins volatile oil prices on Fed’s quantitative easing programme
Female IMF employees fire back at New York Times
IMF reject New York Times article; letter signed by 679 female employees says Fund is “not perfect” but is characterised by “dedication to professional excellence and ethical integrity”
OECD and South Africa to set up first African sovereign debt management centre
New centre will train African government officials in managing sovereign debt and set up a government debt database for the region
RBI wants new law to better regulate financial companies
Reserve Bank of India working group wants all large financial groups to be governed by new financial holding company structure; central bank would serve as regulator
RBA’s Battellino expects credit growth to remain subdued
Reserve Bank of Australia deputy governor Ric Battellino says credit growth expected to stay in single-digits
Libyan SWF investments exposed
Leaked Libyan Investment Authority document offers insight into sovereign wealth fund's strategy
IMF paper identifies Chinese credit market distortions
IMF study shows asymmetry in Chinese business cycles owes to non-uniform credit market imperfections and real exchange rate policy
Global imbalances top Riksbank Risk survey
Riksbank Spring 2011 Risk Survey shows market participants believe global imbalances pose greatest threat to Swedish financial system
Vote to inject further QE defeated: BoJ minutes
Bank of Japan minutes show measure to raise asset purchases by ¥5 trillion was voted down by majority
Lagarde confirms IMF candidacy, Brics unhappy
Finance minister of France throws her hat into the ring as candidate for next managing director of IMF; Brics condemn practice of choosing leader based on nationality
OECD calls for Fed and BoE to hike rates
OECD says close-to-zero policy rates in advanced countries are no longer needed; urges Federal Reserve and Bank of England to start raising rates
Ireland clears way for greater central bank power
New Bill allows central bank to step in when banks are “failing or likely to fail”; will be able to shift assets to other institutions or replace management at a troubled bank
RBA should cede control over senior pay, says Australian lawmaker
Australian senator Bob Brown calls for senior pay at Reserve Bank of Australia to be independently set by external panel; governor Glenn Stevens could see pay package cut
UK FSA’s handling of bank failure under review
Review of the British regulator’s report into the failure of Royal Bank of Scotland must assess whether report is “fair and balanced”; authority itself in line for close scrutiny
Fed veteran joins Barclays
Former Federal Reserve director of monetary affairs Brian Madigan appointed senior policy adviser at Barclays Capital
ECB’s Bini Smaghi warns of maturity mismatch from low interest rate environment
European Central Bank executive board member Lorenzo Bini Smaghi says low short-term interest rates risk are leading to over-leveraging in shadow banking