Central Banks
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
Austrian paper takes detailed look at regulatory integration within EU
Researcher uses “bilateral nature” of EU reforms to help gauge effects
ECB article warns of possible effects of a Chinese slowdown
Looser Chinese monetary policy in response to problems could have significant effect
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Fed’s Harker ‘pencils in’ rate hike for December
Philadelphia Fed governor expects rates to rise 25bps before 2018, adding balance sheet normalisation is likely to “take some time”
Book notes: Hole in the Wall, by James Shepherd-Barron
Cash machines have changed the way cash is managed, but is there a future for such machines in a world looking to go cashless?
SNB’s Jordan defends central bank independence
In contrast to monetary policy, macro-prudential should also be shaped by government
Big data in central banks focus report 2017
The second Central Banking Journal focus report on big data expands on the original study from 2016, assessing how challenges have evolved in the past year.
The rapid evolution of data
As big data enters the mainstream, it is critical to understand how it can transform our thinking, but also to be realistic about its shortcomings and biases
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices
Confidence key for South Africa’s economic recovery – Kganyago
Consumer confidence has been “sapped”, but governor remains optimistic nation can “turn things around” by implementing investor-friendly policies
People: Deputies appointed in Hong Kong and Oman
HKMA picks deputy chief executive and new director; Oman appoints vice-president; Central Bank of Kenya has new comms chief
Disorderly Brexit is possible, warns senior Bundesbank official
Dombret hopes for supervisory co-operation, but tells banks to prepare for “no deal”
BIS paper studies how weak banks beget zombie firms
Weak banks have a tendency to misallocate capital, authors find, though the effect is only important in the long run, in contrast to earlier studies
RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
Bernanke, Geithner and Paulson to conduct forensic analysis of 2008 crisis
Protagonists of US crisis response to lead research into detailed design choices behind the main measures taken
Softened liquidity rule would still be misguided – US asset managers
The Treasury proposals are welcome, firms say, but a watered-down SEC rule would leave risks unaddressed
Riksbank’s executive board divided over QE programme
Some members advocate ending stimulus in December, others fear that could reduce inflation
Stifling cross-border banking hurts developing countries – World Bank
World Bank offers advice on successful cross-border banking but warns developing countries against over-reliance