Central Banks
SNB board member speaks on ‘very limited' ethical investment programme
A desire not to move markets informs the SNB's decision not to provide details on its new ethical investment strategy, which will affect a 'very limited' number of companies
People: Central Bank of Ireland gets new top supervisor; MAS reshuffles management team
Sharon Donnery new director of credit institutions at Central Bank of Ireland; MAS's Foo-Yap Siew Hong retires after 39 years; and more
BoE's Financial Policy Committee notes 40% rise in mortgage approvals
Mortgage approvals rose by 40% in the year to January; FPC makes no new recommendations
Fed rejects Citi's dividend plans
The Federal Reserve has rejected the capital plans of five systemically important banks following annual stress tests; Bank of America and Goldman Sachs squeeze through
RBI director criticises ‘poor’ cooperative governance
Deepali Pant Joshi attributes cooperative banks' deteriorating health to poor governance and operational inefficiencies
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
Riksbank told to stop ‘leaning against the wind' by national forecaster
Sweden's National Institute for Economic Research sees ‘no reason for monetary policy to be influenced by household debt' in a rebuke of Riksbank policy
New Zealand champions coordination of monetary and macro-prudential policy
Reserve Bank of New Zealand deputy governor says there is an ‘appropriate role’ for coordination if both policy arms retain ‘clear primary objectives’
BoJ review dissects inflation expectations
Economists from monetary analysis department say BoJ communication has generated a 'spike' in expectations around 2%, but dispersion is still ‘substantial’
BoE and PBoC to ink deal on London RMB clearing bank
Central banks will sign memorandum of understanding next week that will pave way for London to establish the first offshore renminbi clearing bank outside Asia
‘Seismic' renminbi internationalisation has a way to go, says RBA deputy
For the renminbi to be considered truly ‘internationalised', RBA deputy Philip Lowe says it must reach a situation where non-residents are willing to hold it un-hedged
Fed finds 75% of US citizens reluctant to pay by phone
While mobile banking continues to grow, many consumers are growing more sceptical of services and the security of the technology, according to a Fed survey
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