Norges Bank
Norges Bank shuffles organisation of support functions
Norges Bank looks to strengthen support structure through creation of central secretariat, which will be headed by Birger Vikøren
Norges Bank paper proposes linking CCP risk management to capital charges
Author recommends stress tests of CCPs to gauge interconnectedness, and proposes higher capital charges for CCPs with weaker risk management
Norges Bank gets second deputy governor for first time
Norges Bank announces appointment of academic to newly-created deputy governor position, while NBIM names new chief compliance and control officer
Foreign productivity shocks major influence on small, open economies, paper argues
Shocks in large economies, particularly to technology, have a large effect on the business cycles of small, open economies, a Norges Bank working paper shows using a DGSE model
Short-term funding developments put Norwegian banks at risk, report finds
Parts of the Norwegian economy remain a source of vulnerability for banks, says deputy governor Nicolaisen at launch of latest financial stability report
Norges Bank paper tries to extract high-frequency forecasts from low-frequency data
Researchers find low-frequency information can be important in forecasting high-frequency variables, designing a model that outperforms a random walk benchmark
Norges Bank to supervise $1bn-plus SWF property deals
Central bank executive board will supervise real estate investments above $1bn made by sovereign wealth managers; separate committee formed for investments over $250m
Norway dips into oil fund for first time
Stimulus programme and low oil prices combine to push government deficit above oil revenues; NBIM opens regional office in Tokyo
Economists push IMF reforms back into spotlight
Indian economists make case for ‘more radical’ review of resource and representation in the future; Nordic and Baltic countries press for ‘interim steps’ towards delayed 2010 reforms
Norges Bank unlikely to follow others into negative territory, says Olsen
Governor flags the dangers and distortions from very low rates, but says Norway has more room to manoeuvre than most; contrasts ECB and Riksbank liquidity policies
Norway signals further easing as it cuts again
Norwegian central bank looks to cut rates further with inflation set to fall back to 2% over the forecast horizon
IMF staff call for greater delegation of macro-prudential powers in Norway
Technical note finds institutional structure has worked to good effect in many ways, but identifies issues around co-ordination across ministry, central bank and FSA
Norges Bank memo presents indicator of systemic stress
Staff memo outlines ‘composite indicator of systemic stress’ to help with decision on when to lower the countercyclical capital buffer
Research maps Norwegian challenges if oil prices stay low
Economic commentary considers how the increase in oil prices over the past decade has affected Norway in a bid to understand how the recent price drop could play out
Norway’s oil fund suffers loss in second quarter
Losses of about $9 billion were largely driven by the fixed-income portfolio, although equities delivered a weak performance; NBIM takes a more activist stance
Norges Bank paper outlines forecasting method for big data
Researchers aim to forecast US stock market and economy using a Bayesian non-parametric model, with a dataset large enough that computing power becomes a problem
Norway moves policy tools in opposite directions
Norges Bank cuts rates to tackle economic slowdown but government imposes higher countercyclical capital buffer as financial stability indicators show signs of danger
Norges Bank research reverse-engineers model of US housing crashes
Researchers test a variety of models for their fit with evidence on US housing booms and busts, finding formation of household expectations by moving average performs best
Cash payments still declining, Norges Bank report finds
Norwegians are making more and smaller payments using cards while cash use continues its downward trend, payments report shows
IMF sees limits to Norway ‘leaning against the wind’
Article IV conclusion says macro-prudential policy should be first line of defence, but governor Øystein Olsen still sees role for monetary policy
Norges Bank’s Olsen backs ‘leaning against the wind’
Øystein Olsen presents evidence in favour of using monetary policy to lean against financial imbalances, which he says smooths inflation and output in the long run
Norway SWF pioneers new activist approach at BP and Shell AGMs
Norges Bank Investment Management says it will vote in favour of resolution for more in-depth reporting of climate change risks by BP in AGM tomorrow
Olsen: Norway needs lower labour costs
Norges Bank governor Øystein Olsen argues labour costs must be brought into line with those of Norway’s trading partners to support a rebalancing of the economy away from oil
Norges Bank faces ‘ripple effects’ from oil price collapse
Norway heading in opposite direction to generally favourable global trend, central bank’s annual report warns; banking sector profitable and resilient nonetheless