Bank of Finland
People: Bank of Finland names administration head; NBU appoints new director for pension fund
Bank of Finland will have a new administration head from January 1; National Bank of Ukraine hires a securities expert to lead the corporate pension fund; and more
Bank of Finland paper sees inefficiencies driving China’s internet finance
Boom in internet finance presents stability risks and appears to be the result of inefficiencies in the existing financial system; authors recommend market-based reforms to redress the balance
Bank of Finland paper examines impact of Basel II on international bank lending
Research finds sovereign credit rating revisions have become more important since the implementation of Basel II capital rules
Finland paper: German minimum wage could be ‘too high’
Germany’s forthcoming minimum wage ‘could potentially be too high’ and lead to employment losses, especially in the east of the country, research finds
Financial liberalisation much more encompassing ‘than just technical lifting of controls'
Market participants face numerous unexpected challenges as they adapt to more liberal operational environments, says Bank of Finland board member at China financial liberalisation event
Liikanen: 'Unanimous' ECB will expand arsenal if necessary
Bank of Finland governor says a wider range of monetary policy instruments makes open decision-making increasingly important
Fin paper examines SME lending in post-transition economies
Researchers find that SMEs perform better in countries with a large number of cooperative banks, rather than those dominated by banks
Finnish paper says Sepa 'not enough’ on its own
Researchers argue that Sepa is an ‘important’ initiative but further measures will be needed to create an efficient payments system; call for ‘vigorous’ competition policies
Academics in charge make companies better off, Bank of Finland paper finds
Discussion paper finds that firms benefit from having academic directors, who are associated with improved acquisition performance and higher numbers of patents
Finland paper: Loans-to-deposits among best indicators of banking crises
Paper examines banking crises in 11 EU countries between 1980-2013; growth rates and trend deviations of loan stock variables also yield 'useful' signals of impending crises
Broader interpretation of CB mandates could allow for international co-ordination
International monetary policy co-ordination might not be off the table, Finnish board member says, but adds not all emerging countries were hit by taper talk in the same way
Finland deputy: Banking union may 'exacerbate conflict' for national supervisors
Banking union is envisaged to lessen the role that national interest plays in bank supervision, but Pentti Hakkarainenin warns of potential short-term setbacks
People: RBI executive director retires; top law award for Zambian deputy
G Gopalakrishna retires after 33 years with the RBI; Zambia's Tukiya Kankasa-Mabula recognised for legal achievements; and more
Finland's 'deep structural crisis' must be addressed, Liikanen warns
‘Decisive action’ is required to tackle a ‘deep structural crisis’, now that attention has shifted from problems in the eurozone, Liikanen writes in the Bank of Finland's 2013 annual report
Finnish paper finds forecast errors correlate with subjective uncertainty, not 'disagreement'
Paper analyses forecasts in the ECB's Survey of Professional Forecasters and the US Survey of Professional Forecasters to find the best predictor of errors
Sepa obstacles have 'not evaporated completely’, warns Finland paper
Bank of Finland researcher finds the advent of the Single Euro Payments Area has not removed all of the barriers to ‘a true domestic products and services market’
Bank of Finland paper backs nominal GDP as policy target
Research finds that price level or nominal GDP targeting is ‘on the whole’ better than inflation targeting as long as private agents adapt their expectations accordingly
Real exchange rates determined by 'cointegrated' factors, Bofit paper finds
Evidence suggests sectoral total factor productivity differentials, real interest rate differentials and real gold prices explain movements in bilateral US real exchange rates between 1970-2006
Russian interbank market lacks discipline, Bofit paper finds
Investigation into levels of market discipline in the Russian interbank market finds some discipline was present during the financial crisis, but even then it was insufficient to curb risk-taking
Liikanen calls for ‘precise’ communication at point of exit
Bank of Finland governor Erkki Liikanen emphasises the importance of central banks providing detailed and accurate communication as they approach the ‘turning point’ of monetary policy
Finnish deputy outlines credibility triad
Pentti Hakkarainen says a central bank’s financial position, legal independence and communications all influence the credibility, and therefore efficacy, of its monetary policy
Finland joins Riksbank in greater gold transparency
Bank of Finland joins Riksbank in revealing where it stores its gold; both banks cite geographical diversification as a motivation, but say it still makes sense to keep most in London
Bank of Finland paper quantifies Basel II shortcomings
Researchers evalute the extent to which the low level of loss-absorbing capital prescribed by Basel II increased the risk of unexpected loan losses taking out a bank
Bank of Finland deputy urges banks to meet mobile and internet payments demand
Pentti Hakkarainen says banking sector has not met Finnish population’s demand for mobile, internet or real-time payments; says banks risks losing their data advantage over other institutions