Central Banks
BIS sceptical on reserves role for SDR
Trying to create global currency from accounting unit would not solve problems highlighted by the crisis
UK officials must consider cultural factors in regulatory overhaul
Navigating the transition to Britain’s new regulatory regime is fraught with cultural challenges, writes Michael Foot
Hawkish BIS warns on dangers of ultra-low rates
Bank for International Settlements says degree of slack likely to be smaller than suggested by output gap models
BIS fearful over fiscal crunch
Bank for International Settlements warns advanced economies that rising debt levels risk hindering long-term performance
SNB: Quarterly Bulletin – June 2010
Swiss National Bank estimates export driven growth of 2% in 2010, despite renewed tensions in Europe
Greece’s Provopoulos: fiscal policy has its limitations
Bank of Greece governor George Provopoulos says Greek crisis highlighted the limitations of fiscal policy
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Old Lady: banks must reduce reliance on rating agencies
Bank of England calls for capital incentives for firms that rely less on external ratings; urges Basel Committee to go slow on introducing Basel III
Bank’s pledge to support growth could face internal resistance
Government repeats promise of loose monetary and tight fiscal policy even as officials within the Bank of England make the case that inflation is getting out of hand
Central banks’ holdings of US agency debt rise on dollar demand
Fed data show official-sector holdings of US agency securities rose for a 12th straight week; auction for seven-year US Treasury bills displayed growing demand for dollar denominated assets
Tuvalu joins IMF
Remote island of Tuvalu gains access to IMF resources after becoming 187th member at the Fund
Denmark’s Bernstein proposes UK-style merger between central bank and regulator
National Bank of Denmark director Nils Bernstein says collaboration between the central bank and Financial Services Authority will sharpen supervisory powers
FSA heads push back on regulator's abolition
Chairman and chief executive of the UK regulator say decision to break it up is ill-timed
Financial inclusion no easy task: Malaysia’s Ibrahim
Bank Negara Malaysia deputy governor Muhammad bin Ibrahim says financial inclusion has gained efficiency, but requires combined effort from country
Bank of Mexico: prices heterogeneous between sectors
Bank of Mexico study on price movements shows that prices vary considerably across sectors, with contrast greatest between unregulated and regulated sectors
Philly Fed: freedom of databases may improve market oversight
Philadelphia Federal Reserve study on macro-micro databases shows that had information been made readily available, the crisis may have been less pronounced
Kenya’s Ndung’u: long term financing key to housing sector growth
Kenyan central bank governor Njuguna Ndung’u says Finance Bill 2010 provisions will create long term financing and address excess demand for housing in Kenya
Norges Bank takes reputation poll
Norwegian central bank publishes outcome of its first ever reputation survey; poll finds central bank is doing well in public eyes, but could be more open
PNG’s Popoitai: inflation could get out of hand
Papua New Guinea central bank deputy governor Benny Popoitai says inflationary pressures are rising from escalation in capital inflows
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket