Federal Reserve System
Fed data points to rise in GSE holdings
Data show official sector viewing agency debt more favourably; marks about-turn from autumn 2008 sell-off
NY Fed communications head joins Thomson Reuters
New York Federal Reserve’s executive vice president for communications departs for information company
Fed behaviour matches optimal target rule
A discussion paper on the Fed and monetary policy rules argues that an optimal target rule, rather than the Taylor rule, best explains the central bank’s policy behaviour
Fed tiptoes further towards exit
New York Federal Reserve says it will make small-scale reverse repurchase operations in order to test strand of exit strategy
Linking banks, bonds, and firm size
San Francisco Fed paper builds a model to see the effects of bank vs. bond financing on firm size
Fed toughens rules on directors' links with banks
Federal Reserve amends policy on regional directors’ holdings in banks following Friedman resignation
The relationship between deregulation and firm volatility
Federal Reserve paper finds evidence from the 80s suggesting volatility declined as a result of interstate deregulation
Zero lower bound may have cost US $1.7 trillion
San Francisco Fed’s John Williams argues zero bound on interest rates has had negative effect and could continue to do so
House committee backs Fed audit bill
House Financial Services Committee backs Ron Paul’s call for greater powers to audit the Federal Reserve; Barney Frank attempts block
Fed’s Bullard: rates could stay on hold until 2012
President of St Louis Federal Reserve says rates would remain at record lows for next two-and-a-half years if behaviour after previous recessions is repeated
Fed counters criticisms of AIG rescue
Federal Reserve defends itself against charges of mishandling American International Group’s bailout after damning report from Tarp overseer
Fed’s Kohn rejects bubble claims
Fed deputy acknowledges carry trade but dismisses fears low rates are stoking asset-price bubbles
Shirakawa cautions on carry trade
Bank of Japan’s governor becomes latest official to warn on dangers of low rates in advanced economies; notes balance-sheet adjustments will impact efficacy of monetary policy
US policy threatens emerging markets: China’s top regulator
Chairman of China’s regulator says weak dollar and low rates are dangerous to the global economy; echoes recent comments from top Japan, HK officials
NY Fed’s Dudley on improving tri-party repos
New York Federal Reserve’s William Dudley says Fed wants to make tri-party repo system more stable
HK’s Tsang fears the Fed
Hong Kong’s chief executive says Federal Reserve is stoking next bubble through near-zero interest rates
Monetary policy impacts effect of fiscal aid
Kansas City Federal Reserve studies the interactions between monetary and fiscal policy
Fed bans ATM, debit-card overdraft fees
Federal Reserve says banks will no longer be able to charge overdraft fees for ATM and debit-card payments
Woodford unveils new model for transmission mechanism
New York Federal Reserve paper co-authored by Michael Woodford introduces a new model for monetary policy which considers the effects of unconventional policy
Senator calls for Fed’s powers to be cut
Chris Dodd, head of the Senate Banking Committee, submits bill demanding reduction in Fed’s supervisory ambit; calls for one overall regulator
Fed presidents focus on commercial property fears
Atlanta and San Francisco Federal Reserve chiefs echo William Dudley’s warning on commercial real estate
Fed’s Tarullo warns against another Glass-Steagall
Fed governor Daniel Tarullo says split between investment and commercial banking would do little to abate too-big-to-fail problem
Fed poll positive on lending standards but demand still weak
The Federal Reserve’s loan officer opinion survey shows demand for loans in most areas is still weak ; proportion of banks tightening lending standards declining
Rate decisions this week
The majority of central banks that reviewed rates this week made no change, pointing to the need for a sustainable recovery