Central Banks
NY Fed releases new research on large and complex banks
Special edition of the Economic Policy Review aims to further study and debate, and help inform policy-makers on issues around too-big-to-fail
Czech paper examines strength of link between financial and real sectors
An expansion of credit from banks ‘supports industrial production' in small open economies such as the Czech Republic, working paper finds
New York Fed study finds TBTF banks take on more risk
Study uses a rating agency measure of government support and finds it correlated with the size of banks' impaired loan ratios
Nigerian parliament confirms Emefiele as Sanusi's successor
Upper house today confirmed Godwin Emefiele as next governor of the Central Bank of Nigeria; MPC held key rate yesterday despite 'unanimously' voting to tighten
Stress test revisions ‘an embarrassment’ for the Fed
Federal Reserve revises stress test results due to ‘inconsistent’ assumptions of banks’ capital plans; ‘undermines confidence’ in the institution, according to former official
Bank of Canada deputy says Libor and FX scandals have damaged trust
Bank of Canada deputy governor Tim Lane says problems of benchmark rigging must be addressed through mix of 'reform and replacement'
SNB expands equity holdings in ethical investment drive
Switzerland’s central bank increases its equity holdings by $18 billion to $77 billion in 2013; refuses to invest in companies that cause 'severe environmental damage'
Eurozone policy was ‘backward' in the financial crisis, says Draghi
The policy measures brought in by the ECB and other eurozone authorities in 2010–11 were right in isolation but introduced in the wrong sequence, Mario Draghi has said
BoJ mimics Fed with new 'organisational principles’
The Bank of Japan adopts a similar range of values to the Federal Reserve, while setting its strategic goals for the next five years
Forex interventions can lead to banking credit boom, paper finds
BIS paper shows that central bank intervention in forex markets can end up fuelling an expansion in credit to the private sector in emerging markets
Monetary and fiscal policy co-ordination needed in WAEMU, say Africa researchers
Three papers examining the West African Economic and Monetary Union find monetary policy transmission channels work well, but must be used in conjunction with helpful fiscal policy
Parliament eyes Riksbank's off-mark inflation forecasts
Report on Swedish central bank's performance in 2013 shows its inflation forecasts were off the mark; flawed forecasts have forced several central banks to upend policies in the past months
East Africa takes more steps on path to integration
East African Community agrees to expand its relationship with a regional counterpart; implements new project to harmonise payment and settlement systems
Japan FSA proposes two phases for mandatory clearing
The proposals would force financial institutions to clear their yen interest rate swaps, although insurance companies and pension funds are absent from JFSA plans
New governor for Reserve Bank of Zimbabwe
New governor takes over at a time of change for the RBZ, which is aiming to regain control over interest rates and the banking sector
BoJ’s Iwata dismisses hyperinflation fears
Bank of Japan deputy governor insists the central bank is not just committed to achieving 2% target when the economy is struggling with deflation
Financial inclusion is prompting shift in ‘the landscape of central banking’
Reserve Bank of Fiji governor believes central banks have taken a ‘lead role’ in driving financial inclusion; points to new departments dedicated to the cause
Poor co-ordination on capital controls could prove ‘highly detrimental’, paper warns
Paper presented at RBA annual conference finds significant spillover effects from US monetary policy and calls for greater co-ordination of attempts to control capital flows
ABS innovations aim to clear credit rating log-jam
Innovative way of calculating capital requirements for securitisation portfolios could take rating agencies out of the game - and put the European economy on the path to recovery
Volcker perplexed by Fed taper criticism
Former Fed chairman tells Central Banking Awards audience that central banks are ‘promising more than they can do’ and taking away ‘the punchbowl in time’ is Janet Yellen’s ‘big test’