Central Banks
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
Irish firms must plan for ‘hard Brexit’, central bank official says
The UK’s exit from the single market is within the “planning horizon”, says Gerry Cross
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
IMF recommends Spain take a tougher approach on NPLs
Fund advises central bank to set up a group to oversee public asset management company Sareb
Bank of Canada paper studies capital control motivations
Researcher designs policy rule to study whether capital controls are imposed with “mercantilist” or “macro-prudential” motivations
ECCB strategic plan aims for ‘transformation’
Eastern Caribbean must address high unemployment and low growth, governor says
IMF: global recovery is broad but incomplete
Fund ups its growth forecasts but says many are missing out; Maurice Obstfeld urges policymakers to take action while “times are good”
StanChart probed by MAS over fund transfers
MAS says supervisory probe is still ongoing and it will not tolerate abuse of its financial system; Indonesia is also reported to be investigating
True potential of blockchain lies in cross-border transactions – Menon
Singapore is investigating two use cases of blockchain in the cross-border sphere; technology could be used to prevent duplication of invoices in trade agreements
Bank of Zambia outlines resolution plan for failed lender
Balances of 99.8% of IBC depositors will be restored in full under new arrangement, which will see creation of new commercial bank
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Eurozone rate rises would have mixed impact on banks, ECB says
Keeping rates at the same level would decrease net interest income absent credit growth
Government funds at T&T central bank nearly exhausted
Trinidad and Tobago governor warns government has used 99.7% of its overdraft; finance minister blames former administration for depleted funds
More communication may hamper monetary policy, paper says
Independence and bigger MPCs may convey confusing messages and provoke forecast errors
IMF tells Bahamas central bank to reduce government bond holdings
Central bank increased holdings after Hurricane Matthew negatively impacted growth last year; levels of reserves remain stable, fund says
Global factor playing bigger role in commodity prices, researchers say
“Single global factor” likely to be linked to demand, Banque de France paper finds
ECB welcomes European Commission’s CCP proposals
Suggested policy would give all EU central banks greater regulatory role
Riksbank’s new stability chief resigns after less than a week
Henrik Braconier says he regrets stepping down from his former role with Finansinspektionen
ECB starts publishing corporate bond purchase data
Move increases transparency, but data contains few surprises, analysts say
FSI offers guide to liquidity monitoring tools
Basel III makes liquidity more comparable and consistent, but more tools may be needed to capture “jurisdiction-specific issues”, Financial Stability Institute says
People: Quarles confirmed for Fed role; Nigerian deputy nominated
Randal Quarles approved for Fed supervisory role; banker and gender equality activist picked for Nigerian deputy position