Federal Reserve System
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
Case-by-case analysis critical in deciding whether to 'lean against the wind'
Fed's Jeremy Stein highlights need to 'dig into the microeconomic details' when deciding what type of regulatory intervention is comparatively more efficient
Fed transcripts reveal forecasting travails
Crisis year transcripts reveal extent to which the Federal Reserve struggled to predict the depth of recession and deflation, raising questions about the usefulness of underlying models
British hacker charged over Fed computer break-in
Man charged after allegedly hacking into Federal Reserve files, downloading sensitive information and posting it to the internet; charges carry prison term of up to 12 years
Yellen hits back at critics over 'discriminatory' treatment of foreign banks
Following EU complaints, Fed chair tells Senate panel that new regulations are essentially the same as those faced by US banks abroad; Bitcoin is outside Fed's remit
FX Invest Europe: Deutsche Bundesbank official praises Fed’s QE exit strategy
Christine Glockmann says other central bankers may copy Fed’s communication over QE tapering; says eurozone economic policy suffers from member states 'bickering'
Fed transcripts reveal origins of modern forward guidance
Transcripts from the FOMC’s meetings in 2008 reveal the considerations that informed forward guidance at the time and continue to influence central banks’ communication policy today
Financial market fragility might be down to 'poor policies', says Lacker
Stylised and abstract economic models used to 'justify' Fed intervention during the financial crisis may not have received enough discussion, Richmond Fed president argues
Fed floats ‘advanced approach' for calculating risk weights
Biggest US banks will use new approach to calculate risk-based capital ratios from Q2 2014; changes to stress-test procedures pushed back a year to October 2015
Fed publishes FOMC transcripts from 'crisis year' 2008
Transcripts of FOMC meetings from the year Lehman Brothers went bust reveal thinking behind exceptional monetary policy decisions
New face for FOMC as Cleveland Fed pick Pianalto replacement
Mester, head of research at Philadelphia Fed, will take over on June 1; will contribute insights on financial stability effects of monetary policy to FOMC, says Don Kohn
Yellen says labour market recovery ‘far from complete' in first appearance as chair
New Fed chair says she expects ‘a great deal of continuity in the FOMC's approach to monetary policy' going forward; downplays unemployment rate for evaluating labour market conditions
Fed's Plosser wants to end asset purchases by summer
Philadelphia Fed president and FOMC member who voted for the Fed's ‘measured' $10bn taper in January reiterates earlier calls to scale back QE at ‘faster pace'