Central Banks
Malaysian central bank looks to set up financial ombudsman service
Scheme would ensure ‘effective and fair handling of complaints' against financial service providers, says bank, which adds service could be up and running in 2015
IMF and EAC partner up to improve regional statistics
The East African Community will receive technical assistance from IMF in effort to improve its collection of government finance statistics; Rwandan governor says partnership is ‘important’
Bank of Israel urges government to keep its fiscal discipline
Central bank, which cut interest rates to lowest level ever on Monday, warns exceeding deficit target could hurt country's fiscal credibility
Prasarn sees central bank role at heart of Thailand economy's defence
Thai economy can return to growth now the government is back on the pitch as play-maker, but governor warns US rate hikes and domestic household debt pose risks
Dutch central bank sells claims on failed Icelandic lender Landsbanki
The Netherlands Bank recovers $2.2bn it paid out to Dutch depositors of Landsbanki in 2008 as it sells last claims on failed bank's estate to Deutsche Bank
ECB hires BlackRock to design ABS programme
BlackRock will advise on design and implementation of an ABS purchase programme, which the ECB could announce next week; Benoît Coeuré outlines Europe’s ‘fundamental choice’
China joins Indian calls for better taper co-ordination
People's Bank of China says advanced economy coordination is ‘reasonable and inevitable course of action', joining calls from the Reserve Bank of India for international monetary policy solidarity
Central Banking Autumn Training Series 2014
More than 4,500 central bankers have attended the seminar-based training courses run by Central Banking Publications since 1999, and it’s not too late to book your place for the series that starts in Cambridge on September 9th.
Colombian economist extends Bernanke-Gertler model for open economies
Model holds for open as well as closed economies, Central Bank of Colombia paper finds, concluding that they are even more vulnerable to asset price bubbles
Governors and deputies address labour market conundrums at Jackson Hole
Brazil's Tombini, Japan's Kuroda and BoE deputy Ben Broadbent offer their takes on ‘new natural' unemployment rates, weak productivity growth and central bank remedies
Bundesbank paper explores liquidity shock transmission
Claudia Buch and Linda Goldberg summarise the findings of empirical studies conducted across 11 countries to explore liquidity risk transmission
Reserve Bank of India to trial ‘plastic banknotes’
Annual report details plans to run a ‘field trial’ of plastic banknotes by 2015, in addition to several other initiatives aimed at improving the central bank’s cash management
Reserve Bank of Zimbabwe sets up ‘bad bank'
'Bad bank' will assume a growing number of NPLs from troubled lenders; NPLs in Zimbabwe amounted to 18.5% of banks' assets in June, according to central bank
Jamaican governor hails resilience to inflation shocks
Bryan Winter says the country’s reform program has enabled inflation to remain low despite sharp depreciation in currency; reveals new design of monetary policy report
Central Bank of Hungary brings in macro-prudential borrowing caps
New caps will limit payment-to-income levels especially on FX loans; central bank hopes one side-effect will be to discourage the informal economy
Emerging currencies face uphill battle for true internationalisation
BIS report published alongside major EME survey also warns the costs of an international currency might outweigh the benefits
EMs discuss monetary responses to policy spillovers in major BIS publication
BIS publishes result of wide-ranging emerging markets survey, finding that transmission channels have changed since the crisis and opinions differ on how to respond
Nurbek Jenish named Kyrgyz deputy
National Bank of the Kyrgyz Republic appoints Nurbek Jenish, an academic with experience at the World Bank and Asian Development Bank, as third deputy chairman
ECB prize winners size up shadow banking
Working paper published by the ECB considers how regulatory arbitrage and the shadow banking sector can undermine commercial bank safety nets
Finnish paper says Sepa 'not enough’ on its own
Researchers argue that Sepa is an ‘important’ initiative but further measures will be needed to create an efficient payments system; call for ‘vigorous’ competition policies