Official Record
Omani central bank releases first financial stability report
Reveals the creation of an independent financial stability unit responsible for implementing macro-prudential policies; calls for a new macro-financial model and improved data collection
FDIC clarifies approach to use of credit ratings
Article in latest edition of FDIC’s Supervisory Insights sets out expectations regarding credit risk due diligence, explaining what role credit ratings should play in making investment decisions
Bank of England annual report redefines financial stability
BoE annual report reveals change in interpretation of financial stability; central bank must maintain ‘efficient flow of funds' in the economy and ‘confidence in financial intermediaries'
St Louis Fed president launches new household financial stability research centre
James Bullard unveils new research centre that will focus on understanding links between household balance sheets, the overall performance of the US economy, and stability and upward mobility
Bank of Spain says slump reached ‘nadir’ in 2012
Annual report says recovery is in progress and should continue this year, but depends crucially on continued internal adjustments and the external setting
Bank of Greece report optimistic that banking sector has ‘weathered the storm’
Monetary policy report for 2012-13 says confidence is gradually returning as banks make repairs, deficits are reduced and the stabilisation programme remains ‘well on track’
Latvian annual report reveals reserves diversification
Bank of Latvia publishes annual report for 2012; reveals 15% increase in foreign reserves and diversification into Canadian and Singapore dollar-denominated assets
Belize annual report details financial stability measures
Central Bank of Belize publishes annual report for 2012; establishes financial stability unit to explore macro-prudential surveillance and introduces measures to reduce share of NPLs
UAE central bank annual report shows sharp balance sheet expansion
Annual report for 2012 sees balance sheet growth driven largely by higher foreign exchange purchases; prudential measures implemented to shore up banking system
Fed minutes hint at end to era of expansion
A number of participants would like to adjust asset purchases downwards as early as next month, pending positive economic data
National Bank of Hungary optimistic on SME lending
Hungarian central bank releases latest financial stability report; suggests new funding-for-growth scheme will lead to a recovery in lending this year
Central Bank of Ireland stresses importance of long-term bank profitability
Irish macro-financial review highlights need for banks to support the real economy with credit at sustainable rates; increases in bank profitability also necessary for long-term sustainability
Maldives annual report finds inflation back in check after 2011 devaluation
Monetary Authority of the Maldives annual economic review describes tough year for the tourism-dependent country, but the dollar-pegged currency is appreciating to the upper end of its band
RBA minutes show rate cut decision made in spite of home loans growth
Australia's monetary policy decision-makers judged it was time to use ‘some of the scope' they have to loosen monetary policy, given the steady inflation outlook
National Bank of Slovakia issues 2012 annual report
Annual report highlights ongoing macro environment challenges, and deeper involvement in the operation of the Eurosystem
National Bank of Denmark details FMI implementation progress
Central bank working with financial market infrastructure providers to ‘interpret and translate’ the CPSS-Iosco principles into a form applicable to Denmark
Portuguese central bank says austerity has hit long-term economic potential
Bank of Portugal annual report finds economy has contracted 7.2% since 2010, thanks to pro-cyclical fiscal contraction that 'may have a long-lasting negative impact on potential growth'
Central Bank of Kenya cracks down on crime
Report highlights ‘significant progress’ in strengthening defences against money laundering; optimistic about development of banking sector ‘despite 2013 being an election year’
Reserve Bank of Australia publishes monetary policy statement
RBA Monetary Policy Statement says cash rate could change further 'to foster sustainable growth and low inflation'
Bank of Spain financial stability report finds ratio of bad loans still growing
Contraction in new lending to households and businesses, combined with a poor macroeconomic environment, means Spanish bank loan books are on average not improving
Central Bank of Ireland annual report sees assets drop and profits rise
Recovery in Irish economy in 2012 led to lower reliance on US dollar liquidity and continued increase in central bank profits; governor urges continued commitment from external stakeholders
Sri Lankan inflation drops one-third in two months
Central bank reveals inflation drop for second successive month; had earlier hinted at rate cut if slide continued
BoE statistics indicate gradual lending improvement
Lending targeted by funding for lending scheme continues to creep towards positive figures; large gap between lending to individuals and to businesses
Riksbank doves defeated on rate cuts despite broad support for easing, minutes show
Minutes reveal that despite unanimous support for ‘more expansionary’ monetary policy, majority of board members voted to hold rates due to household debt fears