Federal Reserve System
NY Fed’s Dudley: US jobs market still has bright future
New York Federal Reserve president William Dudley offers positive outlook on jobs despite continued stresses in economy
Foreign holdings of US Treasuries fall for second straight week
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined for a second successive week; use of swap lines lower than expected
SF Fed: pre-crisis regulation of financial markets
A San Francisco Federal Reserve study looks at the role of government during the financial crisis and calls for a greater state role in regulation
FOMC minutes reveals divergent views on timing of asset sales
Federal Reserve minutes outlines discussions over an asset sale programme at the FOMC meetings in April
Macroprudential tools need hard, fast rules: BIS
Basel-based Committee on the Global Financial System says macroprudential policy needs as strong a mandate as monetary policy to work
Philly Fed: trade declines in US recession normal
Philadelphia Federal Reserve study shows that inventories stock created a buffer following declines in post-crisis trade
China sought safety in US Treasuries as eurozone markets unsettled investors
Treasury data out on Monday show China and Japan heavily increased their holdings in US Treasuries in March
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Buba’s Weber interested in price-level targeting
Bundesbank president Axel Weber says move to price-level targeting could help anchor inflation expectations
Federal Reserve policy as shown by its history
Much of the independence won by Paul Volcker has been surrendered in the recent crisis, says Allan H. Meltzer
Richmond Fed on sovereign debt dilution
A Richmond Federal Reserve study shows having a sovereign debt default program in place reduces sovereign market risk
Fed’s Hoenig approves Hutchison amendment
Kansas City Fed president Thomas Hoenig says the Hutchison amendment will strengthen the oversight of small banks
Central banks in biggest US Treasury sell-off for three years
Federal Reserve data shows foreign holders of US treasuries moved away from the dollar
ECB Monthly Bulletin (May)
European Central Bank explains unprecedented bond purchases
Volcker dismisses prop trading criticism
Former Federal Reserve chairman Paul Volcker sweeps aside concerns that banks might not be able to differentiate between trading on their own books and on clients' behalf
Fed’s Kohn: US still vulnerable from global imbalances
Federal Reserve vice chairman Donald Kohn says fiscal restraint needed in US to level global imbalances
Fed extends streak, keeping state bank oversight
US Senate amends Dodd bill, allowing Fed to keep supervision of state banks, vote hailed by Kansas Fed chief Thomas Hoenig
NY Fed: foreign exchange swap lines smoothed disruptions in overseas markets
A New York Federal Reserve review shows swap lines enhanced the ability of central banks to provide dollar funding
Agency didn't follow its models on CDO ratings
A leading rating agency gave triple A ratings to CDO tranches when their own models implied downgrades
Fed audit clause unanimously approved for reform bill
US lawmakers vote 96-0 in favour of including controversial amendment to audit the Fed in financial sector reform bill
Bernanke: happiness is relative
Federal Reserve Chairman Bernanke sets out his view on the economics of happiness and the Easterlin paradox
Europe gambles to save currency union
Markets surge as European Central Bank changes course and commits to buying government bonds, move comes as eurozone and IMF unveil trillion-dollar support package
Philly Fed's Plosser: Fed acted on contagion fear
Philadelphia Federal Reserve's Charles Plosser says swap lines were re-opened on concern over impact of eurozone debt crisis on US banks