Federal Reserve Bank of New York
NY Fed says ‘no evidence’ systems breached
Spokeswoman says there is “no evidence” of attempts to penetrate Federal Reserve systems, amid reports saying Bangladesh Bank was concerned funds were stolen from its account
People: New York Fed research head retires, RBNZ appoints new head of currency
James McAndrews will leave the Federal Reserve Bank of New York after 19 years; Steve Gordon gets new portfolio at RBNZ; and more
Dudley flags inflation uncertainty and expectations concern
New York Fed president says uncertainties around his assessment of the inflation outlook have increased; warns of slide in household expectations and stresses need for ‘close scrutiny’
NY Fed’s Potter ‘extremely pleased’ with rate control
The Fed’s framework for controlling money market rates has proven ‘effective’ in the wake of December’s lift-off, according to executive vice-president Simon Potter
Dudley says US households responding more cautiously to house price growth
New York Fed report finds housing debt has been relatively flat over past few years despite house prices rising steeply over the period; points to higher principal debt repayments
New York Fed president keeping eye on expectations
William Dudley expects inflation expectations to increase if the economy keeps growing at an above-trend pace, but any deviation could be cause for concern
Consultancy and advisory services provider of the year: BlackRock Solutions
A key partner to major central banks engaging in complex asset purchases, asset quality reviews, resolution mechanisms and strategic asset allocations
Modern central banks need big data strategy, Riksbank economists say
Central banks need to adapt to growing data volumes, but the organisational changes required could help departments work together more closely, economists say
Forecasters expected ‘significant’ drop in bond yields in wake of Fed easing, paper finds
Staff report published by the Federal Reserve Bank of New York examines how professional forecasters revised their predictions in aftermath of Fed decisions
Fed to encourage supervisory staff to air divergent views
Federal Reserve will develop practices encouraging staff to exchange and respond to divergent views in 2016; New York Fed and Richmond Fed boost supervisory resources following review
New York Fed’s Musalem: culture is as important as capital
Head of the New York Fed’s integrated policy analysis group highlights potential for ‘dissonant sub-cultures’ at firms that otherwise promoted values and codes of conduct
Dudley leads Fed speeches as December meeting looms
William Dudley says conditions necessary for rate hike ‘could soon be satisfied’ but notes concerns about inflation outlook; Evans, Fischer and Lacker also speak on US outlook
Personal integrity key in battle for better culture, Lagarde says
IMF head calls for action to rebuild trust in the financial industry at the New York Fed conference; Fischer says it is impossible to improve the culture and then ‘retire from the battlefield’
John Taylor and William Dudley clash on Fed strategy
Stanford professor John Taylor questions Fed’s communications; New York Fed president William Dudley sets out case against following more rules-based policy
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more
Fed’s Dudley: liquidity warnings a ploy to weaken regulation
'Most arbitrage trading has simply ceased,' while Treasury market depth has dropped from $500 million to $130 million, bankers say
Safe as houses: designing a more stable mortgage
A conference at the New York Fed earlier this year looked at some innovative mortgage designs that could boost financial stability. Central Banking approached some of the speakers to learn more
Argentine reserves spared as US court overturns ruling
Central bank will not have to pay creditors out of its reserves, US appeals court rules, although the decision is not meant to allow Argentina to ‘continue shirking’ its debts
Fed data gives model of banks’ settlement service choices, paper argues
Data from the Fed’s Fedwire payment service shows that banks select payment services based on average rather than marginal cost, study finds
New York Fed researchers shine light on process of giving policy advice
Economists including head of research explain the process of briefing William Dudley ahead of FOMC meetings
US report finds ‘no single cause’ of October 15 volatility in Treasury market
Staff from five bodies, including the Fed board of governors and New York Fed, analyse data from unusual bout of volatility in the US Treasury market last year
NY Fed’s Dudley looks to boost CCP resilience
Federal Reserve Bank of New York president praises progress in extending global regulatory regime to central counterparties but calls for more work on their ‘recovery and resilience’
Fischer: more research needed on stress testing
Fed vice-chair sees room for improvement in the design of stress testing; NY Fed’s McAndrews fleshes out possible research agenda
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey