Central Banks
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies, with analysis of how advances in technology and the structure of trade have reshaped the landscape
Philippines governor announces recovery from cancer
Espenilla reveals cancer treatment, and says recent policy reforms will not fuel rising inflation
PRA’s Sam Woods rebuts 'myths' about Solvency II
Directive has neither “crushed growth” nor driven up prices, Woods argues; regulator will form subcommittee to discuss challenges with participants
Global uncertainty increases financial interconnections – paper
Researchers use a network approach to evaluate financial interconnectedness
Remembering Charles Freeland
Charles Freeland, former deputy secretary-general of the Basel Committee and friend of Central Banking, died in 2017
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
People: Slovakia appoints new deputy governor
Iceland reappoints MPC member; FDIC names new director of minority and women inclusion, and more
IMF official backtracks on Kenya funding comments
Mikkelsen says Kenya has continued to have access to IMF resources “subject to policy understandings”
Fintech lenders increase efficiency of US mortgage lending, research says
Digital credit providers offer faster services, reliable risk assessments and flexible business models, New York Fed research finds
Bank of Korea unveils changes to its DSGE model
The existing model’s accuracy was reduced following structural changes in the economy
Greek governor accuses government of ‘outright lies’ over bribery allegations
Prime minister says he wants the truth, but Stournaras accuses government of deception
IMF stresses communication’s role in fostering stability
Neglecting its importance can lead to adverse reactions, such as misinterpretation of policies
Some ECB governing council members wanted softer QE language – minutes
Governing council members also cautious over future exchange rate movements
Philippines advances with policy implementation revamp
The Central Bank of the Philippines is looking to cut its reliance on reserve requirements and move towards an interest rate corridor
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects
US Treasury hones its bank resolution regulations
Treasury proposals look to overhaul Chapter 14 from the bankruptcy code to limit use of Orderly Liquidation Authority, while restricting FDIC powers
UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines; firm’s software already used by Norges Bank
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation