Central Banks
ESM’s Pacciani says public bodies must balance risk and mission
Public institutions must meet their mandates without losing sight of sound risk management, the chief risk officer says
Risks posed by some ‘shadow banking’ firms not fully known, ESRB says
“Significant data gaps” prevent full assessment of “other financial institutions”, report says
Odds increasing for rate hike at September FOMC meeting
US economy is strong enough to merit a further rate increase, Richmond Fed president says
Long-termism is necessary for a stable future – RBNZ’s Orr
Contemporary societies face challenges demanding focus on sustainable development, says governor
Fed’s Rosengren sees less room to tackle next recession
Fiscal, monetary and regulatory buffers are not as high as they should be, says Boston Fed president
‘Hyman Minsky was right’ – Don Kohn
Macro-prudential policy should mitigate crisis risks, but needs to be well communicated, says Bank of England policy-maker
FCA’s Bailey hits back at EU location demands
It is not necessary for all EU financial activity to take place in the EU if co-operation is close and rules are aligned, the FCA chief argues
US may be over natural unemployment rate – Atlanta Fed president
Raphael Bostic estimates natural employment “is in the 4.2–4.3% range right now”
ECB should not be lead agency for EU financial stability – Mersch
Democratically elected institutions should play main role, ECB board member says
Automation of financial services poses problem for labour market
Central bankers fear the labour market may not recover as quickly as during previous technological revolutions
Risk-adjusted model anticipates rate changes better – paper
Monetary policy forecasts perform better when adjusted to risk, authors say
Swiss banks are more resilient now than before crisis – Zurbrügg
‘Too-big-to-fail’ especially relevant for Swiss economy due to strong role of few major banks
Protectionism won’t divert Bank of Canada’s inflation focus – Wilkins
Rate-setters think gradual normalisation is still appropriate, higher rates necessary to achieve target
Eurozone’s largest banks are penalised for intra-EU transactions – Praet
International regulations should recognised progress made under banking union, says senior ECB official
Financial literacy differs greatly between countries – OeNB paper
Some differences are due to survey methods but others may reflect institutional factors, find researchers
Central banks could do more to tackle climate change – paper
Central banks may be mispricing assets due to climate change risk, paper argues
US and UK central banks take similar policy stances, researchers find
Richmond Fed examines responses to major monetary policy shocks
Riksbank says it will increase rates in December or February
Two board members call for earlier rate hike