Central Banks
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties
Maldives governor says international experts ‘unaware’ of island realities
Azeema Adam argues policy advice from international institutions is misguided, and rejects the use of one-size-fits-all policy prescriptions
Central Bank of Ecuador trials mobile payments
A group of 800 people are testing the platform as part of pilot program; Central Bank of Ecuador hopes to tackle financial inclusion with the new technology
Netherlands Bank moves 122.5 tonnes of gold from New York to Amsterdam
Central bank will now keep 31% of its gold reserves in own country; move was designed to create a more even distribution of its reserves across the globe
Riksbank deputy pleased with macro-prudential progress 'for now'
Martin Flodén says further measures could be taken if central bank's 0% interest rate fails to push up inflation toward 2% target
Policy discussion makes up between 5% and 70% of central bank minutes, study finds
Report by Central Bank of Ireland shows great variation in scope and characteristics of minutes, with word count ranging from 600 to 13,000
BoE’s Taylor defends complexity of leverage ratio plans
External FPC member says countercyclical leverage ratio may be more complex than a flat rate, but allows the Bank of England to be less heavy-handed with the rule and avoid perverse incentives
Top EU court should dismiss UK bonus cap plea, says advocate general
Opinion rejects UK’s main legal challenge to EU bonus cap law and argues use of word ‘cap’ is misleading; UK Treasury says opinion ‘demolishes’ case for fixed ratio
Draghi sets sights on capital markets at SSM inauguration
Mario Draghi says policy-makers can draw on new model for banking supervision when working to integrate capital markets; Danièle Nouy calls for consistent regulation across countries
Lagarde lauds new Mexican bonds with ‘strengthened' collective action clauses
Mexico issued $2 billion in 10-year bonds with new collective action clauses, which Lagarde says ‘will play a critical role in enhancing the architecture for sovereign debt markets’
Argentine governor says peso becoming more predictable
Central Bank of Argentina governor Alejandro Vanoli believes the peso is becoming more predictable due to his efforts to control the exchange illegal market
New Zealand’s banknotes get first upgrade since 1999
Reserve Bank unveils a ‘brighter, more modern look’ for its banknotes, and a host of new security features; net cost will be NZ$40 million over five years
Norges Bank's Øystein Olsen on governance and managing the world's largest SWF
Øystein Olsen, governor of Norges Bank, speaks to Christopher Jeffery about greater transparency and governance, including managing the world’s largest sovereign wealth fund
Klaas Knot: It’s up to governments now
Netherlands Bank president tells parliament that European governments will have to boost growth and ‘stir up’ inflation themselves; latest central bank bulletin reinforces point
The shift to a multi-polar world
Extraterritorial reach of US policies could hasten the use of alternative currencies; decision on renminbi inclusion in SDR may be a tipping point for relevance of Bretton Woods institutions
Dealing with an age of turbulence in emerging markets
Nigerian deputy governor details the options available to emerging markets when reacting to changes in developed-world monetary policies and associated fund movements
BIS' William Coen on Basel III and preventing the next crisis
William Coen, the secretary-general of the Basel Committee, speaks about the banking industry’s response to Basel III, supervision versus regulation and preventing the next crisis.
The ECB's approach to central banking without data borders
Data sharing and access to confidential information – on a need-to-know basis – remain a legal, cultural, technical and organisational challenge at the ECB and elsewhere, writes Aurel Schubert
Assessing credit risk post-crisis at a central bank
Eric Wolfe explains how the Bank of Canada has developed its own credit assessment processes to avoid mechanistic reliance on credit rating agencies.
Czech currency intervention and forex reserves
Michal Skorepa and Mojmír Hampl explain how the Czech National Bank’s activities have directly and indirectly affected the value of the koruna, including the impact of direct interventions in 2013