Central Banks
Debate over Kenya’s growth potential continues – Njoroge
Private sector sees macroeconomic stability and infrastructure funding aiding growth in the long term, while banks are concerned about elections and a decrease in credit growth
Fed fines BNP Paribas over forex manipulation
French bank is to pay $246 million to settle an investigation of misconduct
IMF praises Madagascar’s approach to monetary framework change
Madagascan central bank to introduce overnight deposit facility to form basis of an interest rate corridor; fund notes effects of vanilla bean shock still being felt by banks
BoE opens RTGS to non-bank payment service providers
Non-banks gain direct access to settlement accounts at the Bank of England for the first time, though they will not be able to participate in monetary operations
IMF official says Mexico’s outlook seems bright
First deputy director Lipton says sound macroeconomic management has put the country in a strong position, despite a sharp rise in inflation and uncertainty surrounding trade relations
Bank of England unveils Jane Austen £10
New banknote will be the first to include tactile features for the visually impaired; Carney says timeline for the new £20 remains on track despite polymer controversy
Austrian banks should invest for the future – OeNB
Commercial banks are boosting profits by cutting risk provisioning, says central bank
China's president hands PBoC stronger role in tackling financial risks
China will set up a financial stability and development committee to co-ordinate financial supervision, and the central bank will play a stronger role in financial regulation, Xi Jinping said at a national financial work conference.
People: Malta finds replacement for Mifsud; DNB appoints new board member
People: Malta appoints new deputy governor; Netherlands picks Else Bos as new board member for prudential supervision; and more
The BoJ’s exit policy and balance sheet risks
The Bank of Japan will need to follow a meticulous sequencing of events as its ‘normalises’ monetary policy, making current concerns about negative equity appear premature
Regulations have net benefit despite cost to dealers – BoE paper
Working paper finds leverage requirements have raised costs for dealers in normal times, with the impact larger than earlier studies imply
Australia’s neutral rate of interest is around 3.5% – RBA minutes
RBA minutes show hawkish slant compared with policy statement released earlier this month; central bank estimates neutral rate has fallen 150 basis points
IFRS 9 will improve stability – ESRB
New measures could reduce the procyclicality of asset impairments in downturns
Eurozone tax systems subsidise housing debt, ECB paper argues
Under-taxation of returns to home equity drives distortions, researchers say
Malaysian central bank strengthens onshore hedging
Bank Negara complements NDF restrictions with more open onshore market
Fed paper: portfolio holdings have ‘statistically significant’ effect on rates
Research studies composition of Fed’s Treasury portfolio and impact on yields from 1985-2016
IMF continues building up Somali central bank
Planned currency reform should give the central bank the ability to implement monetary policy