Central Banks
PBoC highlights ‘rapid’ growth of electronic payments
Quarterly report on payments in China says electronic payments, particularly mobile payments, grew significantly in Q3
BoE extends Funding for Lending Scheme
Scheme will continue for an additional year in a bid to boost credit provision to small businesses; Mark Carney admits lending to smaller firms is still problematic
EBA moving to iconic Canary Wharf tower
European Banking Authority will soon vacate its current offices in the City of London and take up residence in Canary Wharf
Gobind Ganga appointed governor of Bank of Guyana
Ganga handed the role on a permanent basis after serving as acting governor following the death of his predecessor in May; president also appoints new deputy
Riksbank deputy dismisses criticism of interest rate ‘experiment'
Per Jansson says ‘leaning against the wind' played minor part in recent years' policy discussions; suggests outside predictions of low inflation have been overplayed
EU insurance stress tests reveal industry vulnerability to ‘Japanification’
Firms are vulnerable to a prolonged low interest rate environment and asset shocks, stress tests run between April and July show
Cleveland Fed researchers examine Taylor rules followed by professional forecasters
Research examines the relationship between private forecasters’ projections for inflation, unemployment and the federal funds rate; finds ‘tremendous’ differences
Swift wins Australian real-time payments contract
Contract represents new direction for the financial messaging service, with the final platform expected to go live in 2017
Liquidity surplus has minor effect on short-term interbank rates, Riksbank article finds
Larger liquidity surplus in Swedish banking system since 2007 linked to downward pressure on short-term interbank rates, but effect is minor as most is invested in Riksbank Certificates
Zeti: Greater financial integration will boost growth potential in South East Asia
Greater financial integration in the Asean economies will help channel funds towards ‘productive’ investment, says Bank Negara Malaysia governor Zeti Akhtar Aziz
Rajan sees policy stripped back to signalling function
RBI governor says weak rate transmission has left signalling as the primary channel for monetary policy; rate cut may come ‘outside the policy review cycle’ in early 2015
Charitable governor vows to deliver next interest rate decision in Christmas sweater
Mar Guðmundsson's promise part of national anti-bullying campaign; calls on central bankers to be ‘more open' to charitable causes and have ‘some fun with it'
National Bank of Angola works on deposit guarantee fund
National Bank of Angola has built a framework for a deposit guarantee fund in the country, which the governor says will cover ‘around 90% of depositors’
Ruble's plunge sparks speculation of central bank's return to markets
Biggest daily drop since 1998 presages next week's rate hike, say analysts; ruble surpasses Argentine peso as worst performing emerging market currency of 2014
Nepalese governor sets sights on regional capital market
Yuba Raj Khatiwada identifies market infrastructure and corporate bonds as two key areas for development as Asia works towards greater capital market integration
South African Reserve Bank reflects on forecasts
Latest monetary policy review analyses the central bank's inflation forecasts between 2003 and 2014, finding they 'marginally' outperform outside efforts
Central Bank of Paraguay calls for new regulatory powers
Central Bank of Paraguay made a draft proposal to change the law, giving the institution powers to ‘change the prudential regulations according to market needs’
BoJ launches ‘plain language’ economics journal
‘Research Lab’ journal aims to convey Bank of Japan’s research in a ‘concise and plain’ fashion, with the publication tailored for mobile phone and tablet users
Spain looks to create $7.5 billion resolution fund
Spanish government publishes draft bill that will transpose the BRRD into national law and establish a national resolution fund, in preparation for the SRM
Icelandic research proposes new measure of core inflation
‘Dynamic factor measure' outperforms current core measures in terms of matching the mean of CPI inflation while having lower volatility, argues author
PBoC closes in on liberalisation with deposit insurance plan
Central bank moves closer to deposit rate liberalisation with proposals for deposit insurance fund, aiming to improve ‘discipline’ in banking sector and encourage smaller banks to compete
Swiss public reject gold initiative
Referendum sees 77.3% of vote against forcing the SNB to hold 20% of its assets in gold, and prevent it from ever selling them; central bank welcomes the result
BoE researchers posit dual model of interbank markets
Working paper separates exposures from funding to show the two parts of the interbank market have different structures; large ‘core’ banks present contagion risk