Central Banks
ECB releases rotation schedule for voting governors
New voting rotation system sees Spanish, Irish, Greek and Estonian governors sit out first decision in January; ECB allots €82.6 billion to 255 banks in first targeted LTRO
Financial liberalisation much more encompassing ‘than just technical lifting of controls'
Market participants face numerous unexpected challenges as they adapt to more liberal operational environments, says Bank of Finland board member at China financial liberalisation event
FSB warns of ‘increasing signs of complacency' in financial markets
Concerns about the mispricing of liquidity risks are also raised at plenary meeting in Cairns this week, but ‘core of financial system continues to strengthen'
Peru governor says Fed ‘normalisation’ will help reverse domestic slowdown
Central Bank of Peru governor Jose Velarde says Fed has ‘probably not’ done enough to limit international spill-over, but growth in the US will partially offset a slowdown in China
Barnier hints at longer pensions clearing exemption for OTC derivatives
The EC's outgoing head of internal markets, Michel Barnier, has hinted the Commission will extend a pension funds derivatives clearing exemption beyond 2015
Mortgage credit subsidies 'disastrous for the poor'
Credit subsidies a ‘short-sighted palliative for addressing economic inequality', argue leading academics in Central Banking Journal article
Brazil’s central bank staff complete second day of strike
‘Technical’ workers are seeking greater recognition as more roles are taken by ‘analysts’ that earn higher salaries; central bank says protests have not affected its core activities
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
IMF paper: Colombia needs to lower collateral constraints to boost growth
Measures to increase financial inclusion in Colombia should be ‘monitored closely’, since some of them ‘may imply trade-offs’; collateral constraints viewed as impediment to growth
FSB estimates of Chinese shadow banking fall short of target, IMF representatives suggest
FSB's ‘filtering out' of parts of the non-bank financial system in China paints incomplete picture, IMF Asia division chief and HK representative say
‘Flower power’ drives new Dominican Republic banknote series
The Dominican Republic is issuing upgraded banknotes to include the country’s new national flower; Israel and eurozone also introducing new notes in the market
Mersch: T2S may prompt ‘more global network for mobilisation of collateral assets'
ECB board member says Target2 offers 'possibilities for linkages' between T2S central securities depositories with those 'from other geographical areas'
Canada governor says ‘manipulating markets not in our game plan'
Stephen Poloz says attempts to influence exchange rate, including via ‘verbal guidance', would ‘do more harm than good'
Bank of Russia to complete shift to inflation targeting regime by 2015
Geopolitical tensions, increased food costs and financial market turmoil will not deter central bank from pursuing 4% inflation target that is to be phased in next year
Prosecutors drop investigation into controversial comments by National Bank of Poland governor
Marek Belka did not break the law when calling for finance minister's removal in leaked recording
Banks must ‘rediscover' relationships with companies, Italian deputy says
Salvatore Rossi says better understanding of companies by banks would complement capital market intermediation as ‘only banks can acquire direct knowledge of firms'
Liikanen: 'Unanimous' ECB will expand arsenal if necessary
Bank of Finland governor says a wider range of monetary policy instruments makes open decision-making increasingly important
PBoC designates renminbi clearing banks for France and Luxembourg
Bank of China and Industrial and Commercial Bank of China to serve countries' offshore RMB markets
Perceptions of monetary policy determine long-term bond yields, IMF paper finds
Rise in yields following Federal Reserve ‘taper talk' in 2013 is due to monetary policy shock; communications should place less focus on explaining adjustment triggers
Palestine Monetary Authority launches new clearing system
Automated clearing system developed in Palestime with technical assistance from the World Bank and Bank of Italy; part of PMA’s wider plans to upgrade retail payment infrastructure
Robert Pringle’s Viewpoint: A qualified case for Scottish independence
If the Scots vote for independence they will run many risks including a perilous path to create a Scottish currency; but they have the human resources to make a go of it
Shift towards 'commercial' and 'political' central bank communication set to continue
Central banks to continue mimicking commercial and political entities in their communications despite reputational costs; more resources will be dedicated to social media use, says Niels Bünemann
The viability of a commercial approach to central bank communication
Will the prevailing trend for central bank communications to mimic those of commercial entities and political parties stand the test of time?