Australia
Asia-Pacific central banks tread water with rate holds
Malaysia and Indonesia join Australia and Japan in holding rates - citing healthy growth and on-target inflation
Australian banks propose ‘layered' high-speed payments system
Industry body presents ‘fast payments solution' based on core infrastructure and additional services; RBA describes proposals as ‘substantial initial progress'
RBA minutes warn growth may wobble in 2013
Minutes suggest economy is struggling to rebalance away from mining as peak in resource investment approaches, but low inflation gives room for further rate cuts
RBA offloads stake in scandal-hit Securency
Reserve Bank of Australia sells its shares in company embroiled in bribery scandal; central bank oversight of firm found to be appropriate
RBA holds rates but suggests cuts could follow
Reserve Bank of Australia holds interest rate at 3%; governor says stable inflation would allow board to make cuts and boost demand if needed
RBA paper investigates post-crisis leap in currency demand
Despite government deposit guarantee, demand for Australian banknotes increased by 12% following Lehman Brothers collapse
Asic to consult on trade repositories in first quarter 2013
The Australian securities regulator is looking to consult on its trade repository plans at the end of the first quarter, with an eye to implementing the regime later in the year
RBA’s Stevens addresses growing importance of policy spillovers
Australia’s Glenn Stevens says policy-makers are becoming increasingly aware of the need to consider the wider impact of domestic decisions, although discussion is in its infancy
New Zealand’s new capital standards at odds with Australia on ‘bail-in’
Reserve Bank of New Zealand’s new capital standards conform to Basel III requirements but concerns raised on how bail-in debt rules will tally with Australia
RBA revamps clearing and settlement to meet FMI standards
Reserve Bank of Australia releases final rules for clearing and settlement to bring them up to date with new FMI standards
RBA cuts rates to three-year low
Reserve Bank of Australia lowers rates despite growth near to trend and inflation likely to overshoot target in short run; dollar strengthens against greenback
Regulators in Asia target shadow banking sector
Regulators in Asia are striving to strike balance between regulating the shadow banking sector and letting Asian financial intermediation develop
RBA takes action to cut interchange fees
Reserve Bank of Australia reduces interchange fee cap for Eftpos payments system by 30% to 12 cents; move follows swingeing cut in 2006
RBA moves closer to implementing real-time payments system
Reserve Bank of Australia publishes criteria for proposals of real-time consumer and business payments provision following consultations with the industry
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
RBA’s ability to forecast put on trial
Discussion paper finds RBA forecasts inflation more accurately than GDP growth
Bank safety depends on more than high capital, says RBA’s Ellis
Reserve Bank of Australia’s Luci Ellis says higher capital levels alone do not guarantee a bank is safer than its competitors; depends on business model and risk attitudes
RBA seeks more transparency in securitisation market
Reserve Bank of Australia assistant governor says new information requirements in the securitisation market will enable financial institutions and investors to better assess risk
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
RBA assistant governor discusses impact of OTC repository licensing
Malcolm Edey considers how a licensing regime for trade repositories in OTC markets in Australia will impact the RBA; central banks to focus on market-monitoring, advisory and oversight
Australian CCP cannot delay margin application any further, says RBA
Reserve Bank of Australia says ASX Clear’s deadline for the implementation of equity margins has been extended but cannot be pushed back any further
Reserve Bank of Australia unexpectedly cuts rates
Board of Australian central bank lowers benchmark interest rate following weaker growth outlook as inflation falls further below target rate
RBA stability review offers update on D-Sibs
Reserve Bank of Australia provides update on new regulations for domestic systemically important banks
Reserve Bank of Australia annual report reveals government dividend
Annual report for 2011 details profits of more than a billion Australian dollars, nearly half of which will be paid to the government as a dividend