Central Banks
Fixing the banks is not enough – Adair Turner
Robust banks can supply credit but the real damage from financial crisis is caused by lack of credit demand, former FSA chief says
HKMA rolls out initiatives to promote ‘smart banking’
Hong Kong authority plans upgrade of supervisory sandbox and modified virtual banking guidelines; real-time retail payment system will be one of first to offer immediate settlement
Constâncio discusses possible changes to new ECB model
Modelling of aggregate consumption and expectations must improve - ECB vice-president
Senior figures disagree over future of central bank mandates
Independence for central banks has been a success and is vital for carrying out mandate; Otmar Issing says ECB should not act as a substitute for politics
Debelle calls for more thought on financial stability independence
RBA deputy says financial stability needs its own intellectual framework; panellists warn independence likely to face tougher challenges ahead
BIS report sheds light on innovative big data use
Central banks across the globe are turning to big data to solve statistical issues, improve banking supervision, and analyse communications
‘Substantial’ accommodation still needed in euro area – Liikanen
Bank of Finland's governor says improved growth and investment prospects have failed to affect inflation; underused capacity expected to be taken up “gradually”
Fitch warns Philippines on prudential standards
Real estate sector appears stable but risks could “crystallise” if left unchecked; closer central bank scrutiny may prove inadequate
Poor monitoring led to rise in NPLs, says Rwanda’s central bank
NPLs rose to 8.2% in June, according to central bank stats; banks urged to strengthen monitoring and credit underwriting processes
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Malaysian opposition: bank must act against 1MDB officials
Bank Negara Malaysia says it will continue to work with international agencies over alleged fraud
Bank Indonesia under pressure from falling inflation
Bank Indonesia cuts rate for the second consecutive month; policymakers in Indonesia have been struggling to hit ambitious growth targets
Yellen stresses commitment to ‘gradual’ rate hikes
Fed chair examines possible factors behind disappointing inflation results, but concludes gradual rate hikes are still warranted
Atlanta’s Bostic ‘sceptical’ about low inflation factors
President of Atlanta Fed is not sure technology and competitive pressures are to blame for prolonged below-target inflation
Jamaica’s central bank implements next step in forex overhaul
Conducting auctions at new rate will improve transparency and efficiency of forex market, central bank says, hoping it will stem speculation and volatility
Fed paper calls for rethink of conditions for setting capital controls
Policymakers should also consider how external shocks affect the borrowing capacity of the country, researchers say
Eichengreen supports calls for FOMC to hold more press conferences
Governance expert says Fed is one of the most transparent central banks in the world but improved consistency of format around FOMC meetings “makes sense”
John Williams on the neutral rate of interest and mandate change
The president of the Federal Reserve Bank of San Francisco speaks about the plunge in the natural rate of interest, and why it means central banks should work together to review their price stability targets