Federal Reserve Bank of New York
Jobs data recovers in the US as Dudley looks to help small businesses thrive
Non-farm payroll employment increases by 223,000 in April after a difficult March; NY Fed president considers how small businesses can access credit and expand
Central Bank of Argentina publishes secret minutes from last dictatorship
Argentina’s central bank releases minutes from secret board meetings during the country’s last dictatorship, which will "shed some light on one of Argentina’s darkest periods", says governor
People: NY Fed names first vice president; HKMA promotes research head
Michael Strine succeeds Christine Cumming as first vice president at the Federal Reserve Bank of New York; Lillian Cheung becomes executive director for research in Hong Kong; and more
Op risk analysis underrates human behaviour – Fed examiner
Next-generation operational risk should focus on behavioural dynamics in financial firms
NY Fed wants ‘enhanced communication’ around cyber threats
Sarah Dahlgren says the New York Fed is interested in learning from breaches in security elsewhere and using the intelligence to ‘get ahead of the game’
Fed officials grapple with lift-off details
Minutes from January FOMC meeting reveal extensive discussion about the tools at the Fed’s disposal when it wants to raise rates; idea of higher cap for overnight RRPs explored
People: Sejko confirmed as Albania governor; Vietnam names deputy
Gent Sejko confirmed in post after being nominated in December; Nguyen Kim Anh becomes sixth deputy governor at State Bank of Vietnam; and more
New York Fed unveils new way to calculate funds rate
Central bank plans to base the rate on a new dataset that captures a broader range of market activity; move likely to happen in about a year’s time
NY Fed's Baxter targets stronger ethical culture in banks
Thomas Baxter says progress is more important than ‘perfection' in promoting better behaviour among financial industry workers
New York Fed consultant slams bank's ‘intensely deferential' regulatory culture
David Beim, a Columbia professor who conducted confidential review into regulatory practices, says employees who speak out are ‘frequently hammered down' by supervisors
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties
Dudley says Federal Reserve could do more to be a ‘better global steward'
Permanent FOMC member suggests dollar's reserve currency status sets the US central bank apart; warns Fed funds rate hike likely to spark ‘market turbulence'
Failure to improve culture will be punished, say Dudley and Tarullo
Fed officials say banks that fail to improve culture will face regulatory sanctions, including the possibility of being ‘dramatically downsized and simplified’
New York Fed’s Potter fleshes out normalisation plans
Vice-president responsible for open market operations gives details on how the Fed will use interest on excess reserves and reverse repos to raise its interest rate
Fixing Libor needs more work, says NY Fed’s Dudley
NY Fed president says gaps in the Libor framework still need to be plugged; Fed and FSB working on solutions
Warren turns up heat on NY Fed following allegations of supervisory mismanagement
US Senator says leaked recordings suggest ‘basic lack of truthful reporting’ at institution; New York Fed has already defended the 'integrity' of its supervision
US senator calls for hearings into NY Fed supervision
Elizabeth Warren says ‘disturbing issues' raised by former employee's secret recordings of colleagues; New York Fed ‘categorically rejects allegations'
New York Fed blog to make DSGE forecasts public
Federal Reserve Bank of New York publishing five-part series on DSGE model and how it is used to forecast inflation and output in the US economy
New York Fed report reviews risk-return trade-off between financial conditions and financial stability
Paper focuses on vulnerabilities affecting trade-off, including pricing of risk and leverage; discusses how macro-pru policies can counteract vulnerabilities
New York Fed president suggests Dodd-Frank has made investors ‘more skittish'
William Dudley notes ‘extraordinary interventions' will be more difficult to undertake, potentially destabilising the financial system by unnerving investors
New York Fed study finds Puerto Rico emigration has not led to 'brain drain'
Island's population has been falling for a decade due to emigration, but share of college graduates has increased as low-skilled workers are leaving in greater numbers
Ireland working paper examines effect of ECB policy on interbank repo market
Research by economists from Central Bank of Ireland, New York Fed and Barclays Capital finds some substitution effect between official auctions and repo market activity
BIS paper with New York Fed unveils new measure of underlying inflation
Economists from the Bank for International Settlements and Federal Reserve Bank of New York present a new measure that can be updated on a daily basis
People: Sri Lanka and Nigeria add new monetary policy-makers; and more
Sri Lanka appoints secretary to the monetary board; professor joins Central Bank of Nigeria's monetary policy committee; New York Fed announces 51 new appointments