Central Banks
Fed’s Yellen: macroprudential policy must balance rules and discretion
Federal Reserve vice chair Janet Yellen says macroprudential supervisors should be guided by fixed rules, but have discretionary capacity to surprise firms
Monetary policy cannot correct over-leveraging: Bank’s Miles
Higher interest rates will not prevent build-up of debt, which amplified effects of recent crisis, says Bank of England rate-setter David Miles
RBNZ reports NZ$111m loss
Reserve Bank of New Zealand makes loss after appreciation in New Zealand dollar, slashes dividend payment to government
IIF defends doom-and-gloom Basel III forecasts
Institute for International Finance backs up its predictions of Basel III output loss, which are deeper than regulators’
IASB appoints Hoogervorst as new chairman
Hans Hoogervorst, Dutch former cabinet minister, has been appointed chair of the International Accounting Standards Board
BoC: Business Outlook Survey
Bank of Canada Business Outlook Survey shows domestic firms’ growth outlook remains muted
Firms have cut reliance on debt financing: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says businesses have raised equity and looked to their profits for funding
BIS’s Caruana says central banks have pivotal role in regulation
Bank for International Settlements general manager Jaime Caruana says central banks are best placed and have the necessary expertise to regulate markets
ECB's Constâncio: grant CCPs access to central bank liquidity
European Central Bank's Vítor Constâncio says central counterparties should get access to central bank liquidity so long as they're regulated
IMF/ World Bank meetings: lack of resolution regimes a key concern
Cross-border resolution regime deemed crucial by officials and bankers, but many sceptical progress can be made
ECB sets stage to tackle ‘addicted banks’
European Central Bank publishes toughened rules that will allow it to limit individual banks’ access to short-term funds and exclude asset classes
ECB: monetary policy could have prevented the crisis
European Central Bank study finds low benchmark rate had significant role in lax lending standards before crisis
BIS’s Cecchetti on benefits of phasing in Basel III
Bank for International Settlements economic adviser Stephen Cecchetti says stronger capital requirements will be easier to swallow if phased in with new ratios
RBNZ, NZX ink MoU on connected clearing system
Reserve Bank of New Zealand agrees with Wellington-based stock exchange on separate but connected clearing and settlements systems
Shirakawa flags limits of monetary policy
Bank of Japan governor says loose monetary policy is a necessary condition for recovery, but its efficacy is limited and may have unintended consequences
DSK expects quota reform in 'days, weeks'
IMF managing director Dominique Strauss-Kahn says members close to reaching agreement on quota reform
Take responsibility: ECB’s Bini-Smaghi to EMEs
European Central Bank executive board member Lorenzo Bini-Smaghi says emerging markets seeking bigger global role must take responsibility for imbalances
T&T solves remittances anomaly
Central Bank of Trinidad and Tobago study explains drop in remittances to developing world
BoJ minutes show divergence on risks
Minutes of Bank of Japan's September meeting show disagreement on risks to economy
BoK’s Kim: Asia needs stronger domestic demand
Bank of Korea governor Kim Choongsoo says domestic demand can aid structural imbalances in Asia
Buba’s Nagel set to replace Sarrazin
Western states pick Bundesbank head of market operations Joachim Nagel to take Thilo Sarrazin’s place on executive board
Czech National Bank withdraws smallest banknote
Czech National Bank says Kc50 note will be replaced with coin in April; cites cost of replacing notes and change in value