International Monetary Fund (IMF)
IMF paper identifies trends in fiscal profligacy
Working paper analyses dataset of countries’ fiscal performance over time, finding an imperfect response to changes in the underlying economy
IMF paper urges greater macroprudential standards for CCP risk buffers
Study published by IMF seeks to eliminate regulatory arbitrage between banks and CCPs' prudential standards
Sarb hires head of new international relations department
Legal professor Daniel Bradlow will lead a new department at South African Reserve Bank designed to co-ordinate and direct its participation in international forums
IMF tightens rules on money laundering surveillance
New IMF policy document introduces mandatory reporting on money laundering where it represents a risk to financial stability; Vatican sanctioned over failures in money laundering safeguards
US thrashes out partial solution to fiscal cliff
US government reaches agreement that postpones and reduces fiscal cliff; measures unlikely to have significant impact on Fed policy, some observers say
IMF figures show fall in euro’s share of foreign exchange holdings
Euro-denominated foreign exchange reserve currency claims fell by $8.19 billion in the third quarter of 2012 as developing nations diversify their holdings
IMF fears Ireland could still lose access to markets
Eighth review of extended fund facility says Ireland’s newly regained market access is ‘fragile’ and could be lost if European commitments to ESM funding and OMTs are not followed through
The ghost at the IMF’s Tokyo feast
Robert Pringle looks back at the main themes of the IMF’s annual meeting, which was held in October in Tokyo, and forward to prospects for 2013
The Bretton Woods transcripts
Bretton Woods was one of the world’s most important financial conferences, but one that was little known about until now
Bundesbank at odds with new IMF position on capital controls
Board member says capital controls should be last resort, if used at all; follows updated IMF guidance that capital controls can have ‘substantial benefits’ when used properly
IMF research seeks to harness shadow banking
Staff discussion note outlines the shadow banking system’s useful functions and systemic risks; contemplates appropriate policy response
IMF research highlights financial vulnerabilities in Latin American corporates
Working paper suggests booms may lead to over-leveraged non-financial firms, which could in turn transmit shocks into other sectors of the economy
Eurogroup agrees on Greek aid package
Eurozone countries agree on measures to boost Greek debt sustainability alongside a €43.7 billion ($56.5 billion) disbursement from the European Financial Stability Facility
RBI’s Subbarao encourages more ambitious global governance
Reserve Bank of India governor wants more cohesive policies between countries, and commitments to be enforced
Lagarde promotes deeper Asian economic integration
IMF managing director encourages wider trade and financial co-operation in South-east Asia; suggests switch of investment funds away from developed markets
IMF’s Lipton cools recovery talk
Greater euro area and US progress is needed to avoid another global downturn; more co-operation required on regulatory reform
IMF paper dissects bond yield determinants
Fund research distinguishes between long- and short-run elements in bond yields, finding European periphery yields overstated actual fundamentals
Investment drop in China would hit global growth, says IMF paper
Research says the economic reverberations of lower investment in China are becoming stronger
Lagarde implores next US president to act fast on ‘fiscal cliff’
IMF managing director Christine Lagarde has challenged the next US president to urgently address Washington’s ‘policy uncertainty’ irrespective of who wins
IMF study analyses Asian monetary policy channels
Research published by the IMF examines monetary policy transmission mechanisms in Asia; questions whether interest rates are determined by global factors
CCP structure increases systemic risk, says IMF economist
The likely increase in the number of central counterparties will create more 'pockets of risk', says senior economist
IMF paper analyses regional impact of deleveraging
Research published by the IMF considers why Asia’s domestic credit supply suffered less than that of other regions in response to banks deleveraging in 2008
Troika praises Ireland for ‘steadfast’ adherence to programme
Conclusion of eighth programme review says Ireland likely to meet deficit target this year; Portugal by contrast facing ‘strong headwinds’ to fiscal adjustment with 2012 targets beyond reach
Chile funding markets resistant to risk spillovers
IMF study finds funding costs in Chilean interbank and bank bond markets have weathered global risk spillovers well