Central Banks
Tombini rejects ‘generalised vulnerability’ of EMs
Brazilian governor dismisses notion that exchange rate depreciation in wake of Fed taper is associated with an ‘inevitable, looming’ external payments crisis in emerging market economies
ECB’s Mersch defiant on OMTs
Yves Mersch tells an audience in Berlin the ECB would be willing to buy government bonds in the secondary market before the European Court of Justice’s ruling on OMTs
Risk of dealers exiting from market-making 'much reduced', says BoE's Cunliffe
Bank of England deputy governor for financial stability says prospective UK leverage ratio framework 'could include power to vary ratio to counter macro-prudential risks'
De Larosière decries world monetary ‘anti-system’
Central bankers need to work together to identify and address macro-economic imbalances; system of co-ordinated currency boards could help absent functioning monetary system, says former IMF chief
Newspaper spat puts ‘serious dent in credibility' of Central Bank of Barbados
A spokesperson for the bank declined to comment on claims The Nation has been banned from attending press conferences; newspaper is considering legal action
ECB paper finds press conferences have ‘gained in importance’
European researchers find the president’s press conferences have become a more important communication tool since the financial crisis
Tetangco looks to promote financial inclusion on Asian research agenda
Philippines governor Amando Tetangco to encourage studies on the interaction of financial inclusion with monetary policy and financial stability as part of the research agenda at BIS Asian office
Canadian government wields macro-prudential power, IMF paper says
Government control over high loan-to-value mortgages has successfully taken some heat out of the Canadian housing market since the economy began to recover
Paul Collier on central bank leadership, flawed policy and SWFs in Africa
More African central banks are moving towards inflation targeting, but Paul Collier tells Tom Bowker they should not mindlessly follow Western policy and may need to live with volatile inflation.
Maldives Monetary Authority denies knowledge of terrorist funding
MMA rejects statement in US department of state report that the central bank is aware of funds being raised on the islands to support terrorism abroad
Sanusi: untainted by oil
Sanusi Lamido Sanusi’s aggressive reform agenda and efforts to defy powerful vested interests in Nigeria have secured a positive legacy despite bringing politics to the central bank.
Amando Tetangco on central bank policy, fund flows and financial inclusion
Central Bank of the Philippines governor tells Christopher Jeffery the country is well prepared for policy changes at major central banks and calls for more research on role of financial inclusion
The international monetary ‘anti-system’
A network of systemic risk boards might improve stability in the absence of a viable international financial system, writes Jacques de Larosière.
Paul Volcker on inflation, QE exit and monetary system flaws
Paul Volcker speaks with Robert Pringle about his experiences in defeating inflation, responses to the current financial crisis, QE exit and flawed discipline in the international monetary system.
A new wave for polymer banknotes
Does the Bank of England’s move to introduce substrate banknotes represent a ‘tipping point’ for polymer currency? By Tristan Carlyle.
Finance and the Holy See: creating a central bank
The Vatican is setting up a ‘central bank’ as part of an overhaul of its finances. Isabella Bufacchi and Carlo Marroni examine the options available to the the Holy See.
ECB's Mario Draghi faces ongoing German ‘angst’
ECB president to face further German resistance on interest rates, banking union and OMTs – with Germany’s constitutional court ruling likely more problematic than some observers believe.
Central bank support for CCPs and TRs
The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.
The case for hedging reserves portfolios with futures contracts
Central banks may still be able to hedge their bond and money market portfolios against rises in interest rates. Elisa Vilorio makes a case for using interest rate futures.