Federal Reserve System
Fed paper models financial stress index
US Federal Reserve study discusses several factors that should be considered when building financial stress indexes
European banks still exposed to US dollar funding risks, ESRB warns
European Systemic Risk Board issues recommendations to prevent build up in US dollar funding and liquidity risk; calls for single entity to be responsible for national macro-prudential policy
Duke favours more simple stress tests for smaller banks
Federal Reserve’s Elizabeth Duke says community banks can conduct general tests on bank loan portfolios to reduce cost burdens
Fed’s Plosser supports numerical inflation objective
Philadelphia Federal Reserve president Charles Plosser says Fed seeks to clarify longer-run goals and monetary policy decision-making process
Fed appoints new special adviser
US Federal Reserve board chooses Johns Hopkins University professor Jon Faust as a special adviser
Fed expects $76.9 billion transfer to US Treasury
Federal Reserve estimates it will provide $76.9 billion of funds to the US Treasury after high returns from interest on income
Williams welcomes greater transparency at the Fed
San Francisco Federal Reserve president John Williams says he supports steps to make the Fed’s long-term policy goals more explicit
Basel 2.5: US ratings workaround too punitive, banks complain
Securitisations suffer in draft rules that avoid use of credit ratings - a Dodd-Frank Act requirement
Kansas City Fed’s George discusses the mis-pricing of risk
Kansas City Federal Reserve president Esther George says policy-makers face difficult balancing act to boost the housing market and prevent misallocation of capital
Fed champions further action to revive housing market
Federal Reserve publishes review of policies to address impediments in US housing market in bid to revitalise economic recovery
Fed 'very close' to adopting inflation target, says Bullard
St Louis Federal Reserve president says FOMC nearing agreement to introduce inflation targeting in US; move is part of effort to improve transparency at the Fed
Bank of Italy: ECB’s flexible operational framework assisted crisis response
Bank of Italy study compares effectiveness of unconventional monetary policies adopted by the Federal Reserve and European Central Bank in response to crisis
Fed to release ‘projections’ for future policy
FOMC minutes reveal committee members’ expectations for future monetary policy will be incorporated in Summary of Economic Projections documents; part of Fed’s improved transparency plan
NY Fed paper identifies illiquidity issues in Tips market
New York Federal Reserve study says benefits of inflation-protected Treasury securities are not being fully reaped
Obama nominates two new members to Fed board
Former undersecretary of the Treasury Jerome Powell and Harvard economist Jeremy Stein put forward to fill vacant seats on Federal Reserve Board of Governors; need Senate backing
CentralBanking.com review of 2011
Round-up of 10 of the leading news stories in 2011
Bank of Japan launches Twitter account
Bank of Japan advances internet offerings by launching a Twitter account; joins several other central banks in ‘tweeting’ key information
Fed holds fire amid European chaos
Federal Open Market Committee points to 'strains' in global financial markets as it holds rates and reaffirms commitment to Operation Twist
Promotions and reappointments at the Chicago Fed
Federal Reserve Bank of Chicago announces new deputy chairman, reappointments of board chairman, two directors and Federal Advisory Council representative; also promotions in three internal groups
US regulatory agencies issue new market risk capital rule proposals
US federal bank regulatory agencies remove references to rating agencies in new market risk capital rule proposal; change aids compliance with Dodd-Frank Act
Kamin confirmed as permanent replacement for Sheets at Fed
Steven Kamin is made permanent director of the Division of International Finance at the Federal Reserve Board; has been acting head since Nathan Sheets resigned in August
Chinese labour costs contributed to US job losses: Fed paper
Federal Reserve study says decline in US manufacturing employment was largely attributable to relatively low investment and slow growth in the US, rather than China's competitive labour market
Fed promotes directors on district boards
Federal Reserve announces string of changes to chair and deputy chair of regional Fed board of directors for 2012
Plosser warns Fed against engaging in fiscal policy
Philadelphia Federal Reserve president Charles Plosser says involvement in credit programmes risks blurring distinction between monetary and fiscal policy