Central Banks
ECB paper presents new measure for monitoring real estate vulnerability
Aggregated measure out-performs most models as predictor of past crises, authors say
Fed announces Libor alternative
Secured Overnight Financing Rate will measure overnight treasury financing transactions
Bundesbank moves 20% of gold reserves back to Germany
Bundesbank no longer stores gold in Paris
Draghi’s ‘whatever it takes’ is not credible – Nobel laureate
Chris Sims says ECB cannot be sure it will be able to stop a run on the euro until it is backed by a central eurozone fiscal authority
Recent low US inflation figures likely to be revised – Dallas Fed vice-president
Data allows “nowcasting” of inflation, paper argues
Central Banking Awards: deadline for entries fast approaching
Entries for the next round of Central Banking’s awards close in two weeks; we take a look back at some notable past winners
EU countries must stop state-funded bail-outs, Bundesbank board member argues
Use of state funds to bail out banks “not in the interest” of legislators, Dombret says
Riksbank’s deputy argues for changes to monetary policy regime
Mulled changes would remove distortions, analysts say
ECB criticises government of Cyprus over new central banking legislation
Collection of information on individual debtors is a “government task”, ECB says
Opaque money markets work well, Nobel laureate says
Bengt Holmström says policymakers should not try to make money markets more transparent
Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp; deputy governor says current ‘implicit’ deposit protection not sufficient
QE has positive spillovers into south-eastern Europe, ECB paper says
Some countries experience stronger inflationary effects than eurozone - researchers
QE has not increased eurozone inequality - ECB’s Constâncio
Low-income households benefit most from stimulus, ECB vice-president says
Finnish paper investigates key factors in financial development
Data points to rule of law and economic development are key factors, paper argues
Indonesian central bank cuts interest rates despite slight inflation rise
Inflation is expected to remain within target, Bank Indonesia says
People: Trio of deputies appointed at Sri Lankan, Korean and Bahaman central banks
Veteran central bankers appointed at Sri Lankan and Korean institutions; Bank of Bahamas also gets new second in command
Malawi central bank bolsters anti-counterfeiting with MoU
Governor says new framework will strengthen policy co-ordination between institutions
Sarb gains greater regulatory oversight
President Zuma signs ‘twin peaks model’ into law, granting central bank powers to mitigate risk and shore up financial stability
Book notes: The Myth of Independence, by Sarah Binder and Mark Spindel
Politicians would do well to heed the authors’ lessons, but their economic analysis could be stronger, writes Niels Bünemann