Central Banks
IMF prepares to overhaul its financial surveillance
Fund agrees with IEO report that there is much room for improvement, but budget remains an issue
PBoC issues 20 billion yuan of central bank bills in Hong Kong
Bills could help improve the yuan-denominated bond yield curve amid a lack of liquidity in the Dim Sum bonds market
MAS establishes long-term corporate governance committee
New body will replace short-term councils formed every few years
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
ECB paper presents new financial crisis early warning system
Model aggregates five types of systemic risk indicator, researchers say
BoE’s Vlieghe says bleaker outlook calls for more cautious policy
Weaker growth and Brexit uncertainty imply one or two hikes a year may be too fast, he says
Globalisation is helping to flatten Phillips curve – Fed paper
Price sensitivity to output changes is significantly weaker in high trade-intensive industries
Renminbi reserves are still relatively small
Renminbi investments still account for a much smaller fraction of global forex reserves than China’s significance in the world economy would merit
Estonian board nominates deputy governor to lead central bank
Candidate must now undergo three months of background checks by security service
US sanctions on Venezuela could be death knell for petro
Crypto asset is backed by oil reserves the country can barely commercialise
UK cash system needs revamp, says Payment Systems Regulator chair
Charles Randell tells lawmakers the regulator will look at entire cash provision infrastructure in 2019
Fed to finalise balance sheet plans in upcoming meetings – Mester
Discussions over final size and future use of the balance sheet underway at the central bank
Riksbank maintains normalisation plans despite global slowdown
Next rate hike still expected in the second half of 2019
Brexit solution that ‘works for all’ must be found – Carney
BoE governor calls Brexit an “acid test” of a “new global order”
For-profit CCPs may not hold socially optimal capital – BIS paper
“For-profit CCPs have incentives that are misaligned with financial stability,” author says
RBNZ keeps options open as rates stay on hold
Next rate move “could be up or down” says governor Adrian Orr