Central Banks
China’s ‘big five’ banks highly inefficient – Bank of Finland paper
Biggest lenders suffer from persistent inefficiency, researchers say
Policymakers should focus on slack even amid uncertainty – Fed paper
“Standard advice” from the literature may be flawed under current conditions, authors warn
Central Bank of the Philippines gets mandate to regulate payment systems
Payment systems could be placed on blacklist if they pose a risk to the financial system
RBA suffers payments outage after fire test
“Routine maintenance” led to loss of power at main data centre
Published rate path has similar effect to other communication – BIS study
Communication is important, but the “exact form” less so, according to research
Clarida confirmed as Fed vice-chair
US Senate approves appointment with 69 votes in favour, 26 against and four abstentions
Global crisis uncertainty harmed investment – BoE paper
Authors say their results offer a benchmark for possible Brexit-related uncertainty
Turkish lira back under pressure amid Moody’s downgrade
Central bank raises overnight borrowing limits; dwindling reserves could prove a challenge in the months ahead
Venezuelan central bank launches app to aid currency reconversion
App allows members of the public to covert prices into the new “bolivar soberano”
Banking stress tests need more robust methods – Bundesbank paper
Current methodologies suffer from significant uncertainty, researchers say
IMF paper proposes cash-based solution to zero lower bound
“Decoupling” cash from electronic money could be an alternative to QE or a higher inflation target, the authors say
Passive investing boosts some risks and cuts others – Fed paper
Authors assess four ways the surge in passive investing might impact stability
IMF authors dismiss global Phillips curve as euro inflation driver
Domestic factors largely behind “remarkably stable” inflation in eurozone
ECB asks for changes to EU’s covered bond proposals
Suggested new regime could lead to significant national differences within EU, ECB says
Powell warns not all US problems can be solved by Fed
Fed chair implicitly defends monetary policy in face of Trump’s attacks
Bank of Mexico to phase out 20-peso banknote
Central bank scraps lowest denomination; considers new 20,000 banknote as series launches