Central Banks
MAS working to keep crypto-currencies and ICOs under control
Authority is mulling how to respond to the growth of crypto-currencies and initial coin offerings
Data shows growing medium-term risk for global economy – IMF
Researchers assess three types of financial data as predictors of GDP growth risk
Developing states can improve inflation targeting – IMF paper
The research finds a bias in favour of results in line with the academic consensus
Yellen defends contentious FSOC decision on AIG
Top regulators narrowly vote to remove AIG’s designation as systemic, exposing sharply contradicting views on the Financial Stability Oversight Committee
Neural network can beat conventional forecasts – Kansas City Fed research
Deep learning model outperforms Survey of Professional Forecasters at all horizons
Perng Fai-nan on how Taiwan has eluded crisis for 20 years
Taiwan’s governor explains how pragmatic interventions have engendered two decades of financial stability, despite the island’s status as a small, open economy
US economy would have performed better without rate hikes – Kashkari
Minneapolis Fed president says Fed should not raise rates until 2% inflation target has been reached; removal of accommodation has negatively affected inflation expectations
People: Israel picks MPC members after lengthy process; Brazil promotes deputies
Bank of Israel MPC members appointed after process spanning several years; Brazil promotes internal candidates; RBA has new international director; and more
ECB calls on Commission to rethink CCP resolution and recovery plans
Proposals need to shift focus from stand-alone recovery, ECB says
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
Fed paper constructs ‘loan frontier’ for mortgages
Method mimics literature on estimating production frontiers, allowing authors to study credit provision around the 2008 crisis
Fed fines HSBC $175m for unsafe forex practices
The London-headquartered bank has been ordered to improve its practices by a Fed cease-and-desist order
Race against time for fiat currencies – Lagarde
IMF managing director envisages digital currencies taking over in countries with “unstable currencies”, but infrastructure has to be improved first
Low wage rises may hamper inflation in Sweden – IMF
Higher housing prices and private debt call for stricter amortisation requirements
Central banks should take transparency further, economist argues
Dissenting MPC members can hide behind vagueness and “verbiage”, says Tony Yates
BoE asks banks to allocate $154 billion to new MREL requirements
UK central bank introduces new internal capital requirement for large banks with subsidiaries; banks have net shortfall of £4 billion to meet by 2022
Five-year extension for Riksbank governor Ingves
Swedish governor receives additional term as opposition allegedly blocks appointment of Karolina Ekholm; first deputy also receives renewed term