Central Banks
Carney backs new leverage ratio powers
Bank of England announces review of its powers over bank leverage ratios; Mark Carney says that FPC control over the tool is ‘necessary to properly implement a robust capital framework’
Initial margin to significantly impact development of Asian derivatives markets: Asifma
Asifma head Austen wants exclusion of initial margin from Asian jurisdictions’ derivatives market regulation
Riksbank reviews 20 years of inflation targeting
Sweden’s central bank publishes four research papers on different countries’ experience of inflation targeting and monetary policy; Lars Svensson and Michael Woodford are among the contributors
Bundesbank’s Dombret defends Germany’s current account surplus
Andreas Dombret says the strength of German households, businesses and public sector is a stabilising factor for the eurozone as a whole; calls for acceptance of the structural differences between economies
Robin Leigh-Pemberton, Baron Kingsdown: 1927-2013
Robin Leigh-Pemberton served as Bank of England governor between 1983 and 1993 - presiding over a period of rapid economic growth, but also 'Black Wednesday'
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis
ECB's Cœuré says European institutions must be more accountable
The financial crisis has led European institutions to intrude more into member states' economic and fiscal policies, with 'redistributional consequences' - so democratic accountability is 'key'
BSP to stay put on monetary policy following Haiyan
Philippines central bank is not expected to raise rates despite supply bottlenecks causing inflation spikes in the wake of typhoon Haiyan
Kuroda says Japan is on track to hit price target
Bank of Japan governor says the central bank’s QQE has brought about ‘positive developments’ that are spreading throughout financial markets and the real economy; sees inflation hitting 2% by 2015
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered FX options – but a net settlement mechanism could reduce the number by 73%
Fed’s George backs ‘diversity of views’ in supervisory process
Kansas City Fed president Esther George says it is important that the interests of all stakeholders are reflected in a country’s supervisory structure
Fed could step in if US government hits debt ceiling, minutes show
Federal Reserve policymakers held unscheduled meeting the day before US Congress suspended the national debt limit; agreed the NY Fed trading desk could 'address disruptions in market functioning'
Bank of England appoints three new executive directors
Two new executive directorships are created at the Bank of England - for special resolution and information technology - and Jo Place is promoted internally to head up the human resources operation
ECB paper proposes new metrics for competitiveness
Researchers say that conventional indicators of competitiveness are losing their relevance as production spreads across borders, and propose two new measures based on concept of global value chains
Draghi wants European public backstop for stress tests
ECB president Mario Draghi says both national and European public funds should be in place ahead of the comprehensive assessment to ensure it is a ‘credible exercise’
China and India take divergent paths in liquidity management debate
People's Bank of China is targeting liquidity injections through a standing facility, while the Reserve Bank of India is reducing the amount available to banks through its equivalent funding window
Weidmann and Draghi go head to head on ECB policy
Draghi, Asmussen and Weidmann lay out their views on the right direction for eurozone monetary policy; Bundesbank president accused by Paul Krugman of 'sadomonetarism'
RBA 'open-minded’ to currency intervention
Reserve Bank of Australia governor Glenn Stevens says the central bank would consider intervening in the exchange rate, and insists it ‘remains part of the toolkit’
Canadian paper calls for ‘simple and digestible’ communication on financial stability issues
The paper says central banks should use plain language and build a coherent narrative when communicating financial stability concerns or policies
Yellen wins Senate committee approval
US Senate Banking Committee backs Janet Yellen as the next Federal Reserve chair; latest FOMC minutes reveal support for a cut in the interest rate the Fed pays on excess reserves
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
Israeli annual report for bank customers could be first step to reduce transparency 'knowledge gap'
Bank of Israel supervisor pushes for banks to provide customers with tailored yearly reports; UK consultancy says future lies in 'single online portal' for all financial products