Central Banks
Great Depression spread by Germany, not US
A new paper argues that the 1931 crisis was propagated by the collapse of Germany's banking system
Mauritius’s Googoolye on macro supervision
Bank of Mauritius’s Yandraduth Googoolye says that the country’s revenue authority will share tax data with the central bank to aid policymaking
The behavior of money
A technical paper from the Central Bank of Ireland looks at how the demand for money has changed as the store of value function has gained in importance over the past 40 years.
SARB – an official history
The South African Reserve Bank publishes an account of its history, functions and institutional structure
Bank’s Tucker on shadow banking
Paul Tucker, a deputy governor at the Bank of England, set out his thoughts on the regulatory agenda for financial markets that replicate the features of core commercial banks
Nigeria imposes limit on bank chiefs’ terms
Nigerian central bank says bank heads will have a maximum of ten years at the top, law to be backdated to 2000
Back in the USSR?
Bank of Finland research finds that after 20 years of experimenting with private financial intermediation, Russia appears to be backtracking towards a state-run credit system.
Fed’s Dudley shoots down “audit” bill
William Dudley, president of the New York Fed, dismisses calls for greater scrutiny as threat to independence in policymaking
Uganda’s Tumusiime-Mutebile on media relationships
Bank of Uganda’s Emmanuel Tumusiime-Mutebile says effective communication with the public is crucial for central bank’s work
Rates on hold – Colombian minutes
Minutes of the Colombian central bank’s December policy meeting show inflation is not yet a concern
Swiss profits soar to $10 billion
Gold gains will see the Swiss National Bank book CHF10 billion in profits for 2009
Fed retort: nothing to hide on AIG
Ben Bernanke, chairman of the Federal Reserve, invites the government to audit the central bank’s dealings with AIG; NY Fed submits 250,000 pages of evidence to Congress
Merger has begun confirms Irish CB
Ireland’s central bank says preparations for full integration with regulator have started as proposed legislation gathers steam
Norway’s SWF looks to emerging markets
Government Pension Fund-Global, the Norges Bank-run oil fund, thrived in the crisis as a result of its equity-laden and highly diversified portfolio, says government investment chief
ECB plans regulatory training for EU candidates
ECB says it will partner the European Commission and international organisations to strengthen supervision in countries seeking entry to the EU
Two challenges for policy in the near future
Donald Kohn, vice chairman of the Federal Reserve Board, set out his views on the Fed’s exit and the potential to include asset prices and financial stability questions in monetary policy.
Recapitalise, don’t remunerate – ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi says banks should prepare to meet stronger demand for credit when economy improves
Wait and see on rates – MPC minutes
Bank of England’s monetary policy committee is unanimous is decisions to hold rates and the size of the quantitative easing programme