Central Banks
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
BoE paper finds QE did boost bank lending - slightly
New data set shows effect of increased deposits did feed through to lending, though the effect was dampened by lower levels of capital during the crisis
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
Draghi encourages ‘greater role’ for fiscal policy
ECB president says a policy mix of monetary, fiscal and structural measures is necessary to keep the eurozone recovery on track, in his remarks at Jackson Hole
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
CentralBanking.com will return on Tuesday, August 26
Due to public holidays in the UK, CentralBanking.com will not publish a news alert on Monday. Normal service will resume on Tuesday, August 26
Conditions ‘in place’ for repo expansion in East Asia and Pacific
Report published by central bankers in the Asia-Pacific region finds that repo markets are ‘not as large as might be expected’, but conditions are in place for them to grow
Carney urged to help end masking of swap counterparties
'Ambitious but realistic' deadline could be set for banks to stop hiding counterparty details – the industry’s response to a conflict between privacy and reporting rules
Israeli officials look to remove obstacles to securitisation
Joint team of financial regulators renew efforts to promote securitisation; former deputy governor Zvi Eckstein backs proposed legislative changes
Sri Lankan central bank to spend $760,000 lobbying in US
Central bank hires US company to lobby politicians and businesses in effort to prevent ‘adverse publicity’ eroding investor confidence and undermining economic stability
Polish policy-makers sceptical over major central banks' monetary policy
Minutes from the latest meeting of the Polish monetary policy council reveal doubts that QE and ultra-low rates have had the desired effect
Bosnia's central bank opens new premises in Banja Luka
Main Serbian branch of Bosnia's central bank moves to new purpose-built premises, as its old building provided ‘inadequate' conditions for its 43 staff
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
ECB economists design early-warning guide to trigger macro-prudential intervention
Working paper isolates key indicators to tell policy-makers when to use macro-prudential measures, and which ones to use
Monetarist view cannot explain eurozone inflation woes, Nobel laureate warns
Christopher Sims says lack of co-ordinated fiscal action dooms eurozone to prolonged lowflation, at German conference for economics Nobel prize winners
Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee will hinder abuse of expensive ATMs and promote its cash-less policy; fee was abolished in 2012 to encourage use of ATMs
Rwandan central bank sees inflation and interest rates drop in H1
Semi-annual financial stability statement finds reasons to be cheerful as inflation comes in below target and market rates fall, in line with monetary policy
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Riksbank's first deputy calls for macro-prudential measures that directly limit household debt
Kerstin af Jochnick suggests amortisation requirements and ‘review of tax deductions for interest paid' in Stockholm speech
Irish economists estimate property debt overhang on SMEs
Central Bank of Ireland researchers find a minimum of 20% of SMEs have direct exposures to property debt, which makes them more likely to default
Norway SWF manager doubles leadership team
Norges Bank Investment Management sets up separate ‘leader group' for real estate investments; wealth fund returns 3.3% ($31 billion) in second quarter
IMF researchers say CCBs ‘show less promise’ than other macro-prudential tools
Working paper finds counter-cyclical capital buffers are less effective than measures aimed at banks’ assets and liabilities in reducing the rate of asset growth on their balance sheets