Central Banks
RBI’s Gokarn on financial inclusion strategies
Reserve Bank of India deputy governor Subir Gokarn says banks should consider inclusion-oriented products and services as part of strategy
Chile’s De Gregorio denies currency war claims
Central Bank of Chile governor José De Gregorio dismisses speculation of a currency war between advanced and emerging countries
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
When the price is wrong
Determining how best to step in when markets struggle to price assets fairly remains a key unanswered question from the crisis
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Geopolitical factors won’t stop ECB rate hike, say analysts
Analysts expect the European Central Bank to raise interest rates at the upcoming monetary policy meeting, despite fears events in Japan and the Middle East may offset the global recovery
Zambia’s Fundanga on effects of illegal cross-border trade on monetary policy
Bank of Zambia governor Caleb Fundanga says small-scale cross-border trade could interrupt monetary policymaking
Atlanta Fed paper on evolution of US mobile payments
Atlanta Federal Reserve study says unique set of rules necessary for mobile payments industry to evolve in United States
Central Bank of Colombia paper on too-connected-to-fail
Central Bank of Colombia study calls for too-connected-to-fail rather than traditional too-big-to-fail approach
Former Obama adviser Romer urges Fed to consider price-level targeting
Former chair of President Obama’s Council of Economic Advisers Christina Romer says adoption of price-level targets at Federal Reserve would aid communication with public over policy
Change at the top for Lithuania
Vitas Vasiliauskas to succeed Šarkinas at the helm of the Bank of Lithuania
Periphery and inflation offer headaches for the Eurozone, says Credit Institute panel
Participants on a Credit Institute panel debate held in London argued that peripheral funding and inflation are the major challenges for the Eurozone
Canada’s Carney wants code of conduct for capital flows
Mark Carney, governor of the Bank of Canada, calls for global code of conduct for capital flows and sets out four-part framework
Irish minister makes fresh bondholder threat
ECB executive board member critical of Ireland’s plans to impose losses on senior bondholders in Irish lenders; new stress test results on Thursday to develop the governments’ plans
BoE’s Posen won’t pursue second term on MPC if wrong on economy
Bank of England Monetary Policy Committee external member Adam Posen says he will not seek re-election to rate-setting committee if record on votes turns out to be wrong
RBA’s Edey calls for more debate on regulating cross-border banking
Reserve Bank of Australia assistant governor Malcolm Edey urges further debate on internationalisation of banking industry
HKMA’s Pang says Chiang Mai crucial to maintaining financial stability
Hong Kong Monetary Authority deputy chief executive Peter Pang says Chiang Mai agreement central to safeguarding financial stability
Fed’s arch hawk Hoenig to retire in the autumn
Hoenig reaches mandatory retirement age and will leave in October; selection committee established to ensure replacement is found in time to allow a smooth transition
BoE paper on systemic threat of credit rating agencies
Bank of England study says regulatory reforms should reduce reliance on credit rating agencies
St. Louis Fed’s Bullard: QE2 may have averted a liquidity trap
St. Louis Federal Reserve president James Bullard says second round of quantitative easing was better policy than promising an extended period of low interest rates