United States
Mexican deputy: EMs should broaden trade strategy in wake of uncertainty
He takes note of uncertain political environment and what impact it could have on trade for emerging markets; exploring trade of services could be one option
Fed’s Jeffrey Lacker quits over information leak
Richmond Fed president resigns after admitting he leaked information from the September 2012 FOMC meeting; Lacker failed to report indiscretion on three occasions
Fed paper searches for optimal bank capital
Study weighs higher cost of equity against the reduction in costly financial crises implied by higher capital, estimating an optimal figure
RBI’s Patel gets pay rise but remains cheap by G20 standards
RBI governor sees his pay increase somewhat relative to his predecessor, but other G20 governors and even other RBI staff earn substantially more
Eurozone instability tops reserve manager fears – survey
Threat of instability or weakness in the eurozone and fear of major asset price correction are greatest concerns for reserve managers in 2017, Central Banking survey shows
Fed’s Dudley discusses unwinding of balance sheet
Should reinvestment end “abruptly”, financial conditions would tighten, New York Fed president said; tapering “gradually and predictably” is the way to go, he adds
BoJ builds on BIS banking statistics
Researchers break down the statistics further, shedding new light on patterns of cross-border banking
Inflation worries prompt further action from Mexico
Mexico slows pace of rate hikes amid inflation worries and volatile exchange rate; monetary policy committee will closely watch US economy, latest announcement says
Fed presidents lay ground for extra rate hike
Evans, Rosengren and Williams all signal the possibility of a fourth rate hike in 2017 if economy runs hot
Fed income drops in 2016
Central bank remits less to US Treasury as interest income declines and operating costs rise; passage of "Fast Act" changes remittance process
Fed authors construct ‘financial stability sentiment’ index
Index derives sentiment from central bank financial stability reports, finding a drop in sentiment tends to precede a “significant deterioration” of financial indicators
Iran central bank slams latest asset freeze ruling
Luxembourg court freezes $1.6 billion of central bank assets amid terrorism compensation case; legal battle may have implications for Iran’s nuclear deal
BoE’s FPC sounds warning on implementation of global standards
FPC cautions on global co-operation around regulatory standards; follows plans for deregulation in the US and tit-for-tat threat from German regulators
Extended monetary easing in US has larger impact abroad – paper
IMF paper examines the impact of periods of prolonged monetary easing on risk-taking behaviour; leverage ratio and other measures of vulnerability increase
Croatian governor warns of further financial crises
It is probably time for central banks to “get out” of expanded balance sheets, Boris Vujčić says
Schembri: mix of factors holding back Canadian investment
The outlook is improving, the deputy governor says; openness to trade and immigration are likely to boost growth
SEC nominee flip-flops on Dodd-Frank rollback
Rules mandated by statute must be adopted by regulators, Clayton concedes
Positive shock could still trip up advanced economies – Blanchard
Former IMF chief economist warns high debt levels could interact with positive shocks to cause problems; backs Rogoff’s plan for a cashless society
Time to shrink Fed’s $4.5 trillion balance sheet, say presidents
Cleveland Fed president is “comfortable” changing reinvestment programme this year; balance sheet plan should be published as soon as possible, says Kashkari
Kashkari explains his sole FOMC dissent
Minneapolis chief reminds his colleagues the Fed treats 2% inflation as a target, not a ceiling; urges FOMC to publish plan for shrinking balance sheet
Carney warns of fading regulatory momentum
“Nascent risks” could threaten progress made so far if lawmakers and regulators give in to “reform fatigue”, the FSB chairman says
Fed delivers 25bp hike
Fed makes rate hike that many FOMC members have been hinting at for weeks; committee gives bullish signals on the outlook
Spanish paper proposes new measures for economic recoveries
Researchers apply new tests to data on US post-war expansions
Federal Reserve Banks to work with Swift to make cross-border payments ‘more traceable’
US payment systems partner with Swift to improve cross-border payment speed and traceability; Federal Reserve Banks and The Clearing House make gpi available to clients