Central Banks
Norges Bank governor says clear 'reaction pattern' lessens attention on forward guidance
Øystein Olsen tells Columbia University audience the better central banks become at communicating their reaction pattern, the less attention their forward guidance will receive
DNB's Knot says EMU countries must stick to macroeconomic rules
Blame for the euro crisis should be shared between surplus and deficit countries, says Dutch central bank chief, who urges a strict adherence to rules governing monetary union
Effect of a monetary policy shock is volatile over time
Research using 100 years of US economic data finds the sensitivity of the economy to monetary policy shocks has changed ‘dramatically'
Fed finalises strict leverage ratio requirements for biggest banks
The Federal Reserve has finalised rule that will require systemically important banks to maintain leverage ratios of at least 5% from 2018
French paper constructs credit risk indicators for eurozone
Working paper published by Banque de France builds credit risk indicators that are ‘highly robust’ leading indicators for economic activity and the growth of bank lending
Norway hands SWF ethical investment responsibilities to central bank
Finance ministry disbands external ethical investment committee, putting responsibility for decisions with Norges Bank Investment Management
Ukraine central bank gets new audit committee
Refreshed oversight council gives blessing to new deputy governors and establishes new audit committee; daily FX benchmarks will now be effective immediately
Early-warning indicators ‘crucial' where imbalances don't cause inflation
Hungarian paper singles out early-warning signals for macro imbalances that could be missed by a single-minded focus on price stability
Iceland prepares to phase out smallest banknote
Central Bank of Iceland hints at replacing the 500 krónur banknote with a coin, and scrapping the three lowest value coins altogether; introduced new 10,000 krónur note last year
US banks get stay on Volcker rule
The Federal Reserve has given banks until July 2017 to shed investments in collateralised loan obligations, potentially saving them millions of dollars
Weidmann would consider 'outsourcing’ SSM from ECB
Jens Weidmann tells Klaas Knot the ECB should consider ‘outsourcing’ the single supervisory mechanism once it is established
Bank of Canada appoints first COO
Filipe Dinis appointed as Bank of Canada’s first-ever chief operating officer; assumes oversight of the central bank’s strategic planning, administrative functions and operations
Turkey's Başçı reiterates rate cut is unlikely
Central Bank of Republic of Turkey governor Erdem Başçı says lower interest rates unlikely following PMs call for a cut on Friday
St Louis Fed research chief calls Bitcoin ‘stroke of genius'
St Louis Fed vice president and head of research has raised some central bankers' eyebrows by encouraging them to ‘welcome the competition' from the virtual currency
BoE adds ECA-backed loans as acceptable collateral
Loans guaranteed by UK export credit agency UKEF will be accepted under the Bank of England's Sterling Monetary Framework, with a haircut
Riksbank appoints two senior managers
Appointments to human resources and cash and payment systems sections follow establishment of three new departments on March 1
Danish governor repeats call to join banking union
National Bank of Denmark governor Lars Rohde insists it would be in the ‘best interests’ of the country to join the banking union; predicts ‘substantial impact’ one way or the other
ECB says forward guidance a success
European Central bank annual report for 2013 finds forward guidance helped to stabilise money market conditions and anchor market expectations
Yves Mersch urges ABS regulation rethink
European Central Bank executive board member calls for global framework that distinguishes between securitisation instruments of different qualities