United States
Eichengreen supports calls for FOMC to hold more press conferences
Governance expert says Fed is one of the most transparent central banks in the world but improved consistency of format around FOMC meetings “makes sense”
Fed’s Williams floats co-ordinated shift from 2% targets
San Francisco Fed president is concerned that extraordinary, ‘beggar-thy-neighbour’ monetary policies will be more frequent in a lower-growth world
Chicago Fed’s Evans sees little risk of inflation surge
Study by the Chicago Fed finds little evidence there could be a threshold in unemployment beyond which inflation may surge
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
FOMC triggers balance sheet wind-down
Fed will begin allowing securities to roll off its balance sheet from October; Janet Yellen stresses changes will proceed gradually
Bank of Canada deputy warns about negative effects of protectionism
Timothy Lane says populism may lead to less trade and lower standards of living
People: Portugal’s central bank appoints new deputy governors
Portuguese board also gains two new members; economist joins RBI board
Banks improve governance on Fed stress test feedback
Dual reviews of stress testing models and scenarios becoming the norm
Lower monthly quotas effective at preventing mortgage defaults
60% of US defaults during financial crisis caused by lack of ability to pay, paper finds
Leading asset manager warns policy normalisation ‘may never occur’
Northern Trust believes monetary policy is unlikely to revert to pre-crisis levels; observers say central banks are broadly taking the right approach
Cleveland Fed’s Mester upbeat on prospects for US economy
Loretta Mester backs continued gradual rate rises and the commencement of balance sheet normalisation “in the near future”
BIS’s Restoy warns against ‘supervisory straitjacket’
Rules-based frameworks for banking sector intervention may “unduly constrain” regulators, the head of the Financial Stability Institute says
Philadelphia Fed launches new research institute
Research body is tasked with better understanding consumer behaviour, particularly in relation to financial markets
Racial wage gaps in US caused by ‘harder-to-measure’ factors
Lack of opportunity plays bigger role than education and profession in racial inequality, paper finds
Swift helps US real-time payments movement gain traction
The Clearing House will use Swift’s messaging software as “gateway” to new system, set to go live in 2018 after pilot phase
More power for US politicians reduces credit in their states, paper finds
Gains in power for politicians' power may increase banks’ ability to screen out lenders, researchers say
Low-income families suffer higher inflation rates, paper finds
The differences in prices occur in the same categories of goods
Falling import prices and lower expectations hamper Fed, Brainard says
Long period of low inflation may affect households’ inflation expectations, Fed board member says
Stanley Fischer announces October resignation from Fed
Vice-chair to step down in October “for personal reasons”, eight months before scheduled
Fed rate hikes may be damaging the economy – Kashkari
Neel Kashkari says low inflation may be the result of tighter policy
The Treasury could make QE exit faster and smoother
Swapping longer-term bonds for Treasury bills or floating-rate bonds would expedite the process of reducing bloated central bank balance sheets
St Louis Fed explains Fed’s plans to unwind balance sheet
Fed expected to stop replacing maturing securities to reduce $4.5 trillion balance sheet
New board oversight will not “lower the bar” – Fed’s Powell
The proposed new regulation will not lower the bar for boards or lighten the load of directors, says the Fed governor
Fed paper explores balance sheet effects of liquidity rules
Study of how banks allocate portfolios of liquid assets highlights implications for monetary policy