Federal Reserve System
Rosengren calls on FOMC to update forward guidance
Boston Fed president Eric Rosengren – who is not on the FOMC this year – calls for guidance to be increasingly linked to achieving the dual mandate
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference
Fed finalises strict leverage ratio requirements for biggest banks
The Federal Reserve has finalised rule that will require systemically important banks to maintain leverage ratios of at least 5% from 2018
US banks get stay on Volcker rule
The Federal Reserve has given banks until July 2017 to shed investments in collateralised loan obligations, potentially saving them millions of dollars
Jeremy Stein quits the Federal Reserve
Jeremy Stein, who joined the Federal Reserve board of governors in May 2012, will step down four years early
Fed switches MBS purchases to proprietary platform
The New York Fed, which implements FOMC policies, will start using its FedTrade platform to buy mortgage-backed securities later this month
Cyclical character of US unemployment makes monetary policy a remedy, says Yellen
Federal Reserve chair Janet Yellen argues cyclical character of US unemployment renders monetary policy an important tool in fighting it
US regulation of foreign banks follows 'pattern set by the EU', says Fed's Tarullo
Basel rules are ‘floors, not ceilings', the Federal Reserve's Daniel Tarullo said yesterday, following accusations that the US is treating foreign banks unfairly
Fed rejects Citi's dividend plans
The Federal Reserve has rejected the capital plans of five systemically important banks following annual stress tests; Bank of America and Goldman Sachs squeeze through
Fed finds 75% of US citizens reluctant to pay by phone
While mobile banking continues to grow, many consumers are growing more sceptical of services and the security of the technology, according to a Fed survey
Stress test revisions ‘an embarrassment’ for the Fed
Federal Reserve revises stress test results due to ‘inconsistent’ assumptions of banks’ capital plans; ‘undermines confidence’ in the institution, according to former official
BoJ mimics Fed with new 'organisational principles’
The Bank of Japan adopts a similar range of values to the Federal Reserve, while setting its strategic goals for the next five years
Parliament eyes Riksbank's off-mark inflation forecasts
Report on Swedish central bank's performance in 2013 shows its inflation forecasts were off the mark; flawed forecasts have forced several central banks to upend policies in the past months
Kocherlakota says Fed's new guidance creates uncertainty
In explanation of dissent, Narayana Kocherlakota says he would have preferred the FOMC to stick with quantitative guidance by lowering unemployment threshold to 5.5%
Downturn could halve capital ratios of biggest US banks, Fed stress tests show
Bank of America, Goldman Sachs, JP Morgan, Citigroup and Morgan Stanley all perform below average in Fed stress tests
Fed sends mixed messages on future interest rates
Dovish statement by FOMC yesterday signals low interest rates for ‘considerable' time after QE ends, but voting members' projections see interest rates heading upwards
Federal Reserve banks earned $81.4 billion in 2013
Total assets as of December 31 were $4tn, an increase of $1.1tn on the previous year; holdings of Treasuries and mortgage-backed securities up $550bn and $585bn respectively
Fed nominee Fischer grilled on Citi ties
Former Bank of Israel governor faces tough questions on ‘revolving door’ between Citigroup and top US government roles; fellow candidates Lael Brainard and Jerome Powell also testify
Turkish central bank award aims to promote research in central banking
Turkey award follows the Carl Menger Prize for Research launched by the Bundesbank, the National Bank of Austria and the Swiss National Bank in January
BoE to create new deputy role amid FX rigging controversy
Bank of England will create new deputy governor post to get a better grasp of financial market dynamics, Mark Carney said in hearing yesterday
Bank of Zambia tries to talk down forex market ‘panic'
Bank of Zambia aims to arrest ‘panic' in foreign exchange market amid reversal of portfolio flows; hiked reserve ratio requirement on Monday in attempt to strengthen currency
FOMC members discuss international spillovers of Fed monetary policy
Charles Plosser and Richard Fisher sound off on accommodating policies' impact on other countries, but make no promises of international considerations on FOMC
BoE says publishing Fed-like transcripts would restrict debate
Following recent calls on the bank to follow Fed’s example and release verbatim records of old meetings, BoE says it wound prevent ‘free-flowing’ debate