Central Banking
Germany’s tight fiscal policy may hamper ECB normalisation – IMF research
Sustained budget surpluses have reduced debt issuance and contributed to ever-lower yields
Turkish central bank supplies lire through stock exchange
Governor acknowledges unconventional short-term liquidity provision, as traditional repo operations come to a halt
Eurozone countries need an exit door – Hungarian governor
European attempt to challenge the dollar has led to “open US warfare against EU”, Matolcsy says
Belgian and Slovene central banks tighten macro-prudential regimes
NBB warns of Belgian mortgage risks and Slovene central bank cautions over consumer loans
UAE central bank launches fintech office
Central bank will look to establish a regulatory interface with the market as part of new fintech strategy and roadmap
SBP looks back on tough year for Pakistan
Lack of fiscal consolidation hampered central bank’s crisis response, annual report says
Trump’s trade war is squeezing US profits – IMF paper
Retailers kept prices unchanged and exporters cut theirs, Gita Gopinath and co-authors find
Central banks increasingly embracing the cloud
Forms of cloud computing are becoming more prevalent, despite central banks’ caution
UK government delays decision on BoE governor
Next governor to be named after December 12 election, as speculation grows over Tucker and Rajan
Swiss governor rules out SNB transfers to pension funds
Negative rates are hurting sector but pension reform is solution, Jordan says
IMF boosts financial surveillance funding
IMF seeks to improve hiring and training of economists after Independent Evaluation Office report
Both short and long-term banking liquidity ratios needed – ECB paper
Net stable funding ratio has not been introduced in all jurisdictions, researchers say
Philly Fed paper studies impact of Argentina's default on firms
Firms would benefit from mechanisms to ease switching lenders, researchers find
BIS’s Borio warns interacting financial cycles destabilise global system
Domestic and global cycles interact and amplify one another, BIS official says
EU deposit guarantee schemes must improve – EBA
Rules must give more protection to depositors and address AML concerns, EBA says
ECB paper sets out stress tests for investment funds
Depletion in assets under management could reach 24% for equity funds and 5% for bond funds
ECB approves proposed Latvian central bank reforms
Law gives Latvian government power to dismiss governors found guilty of gross misconduct
Norway’s SWF chief to step down after 12 years
Yngve Slyngstad presided over international diversification and the adoption of real estate, while total assets multiplied by four
AML deadline prompts FCA to warn crypto firms
Regulator says firms must not mislead customers about regulatory status and outlines deadline for registration
Fed considering tools to help flow of reserves in the system
Remarks are some of the most detailed Jerome Powell has made on financial plumbing issues
BoE redesigns inflation report
New design intended to give MPC more flexibility in emphasising changing circumstances
Hong Kong cuts interest rates as economy enters recession
HKMA eases for the third time following Fed move, prompting banks to cut lending rates for the first time since 2008; economy contracts sharply in third quarter
Fed likely to ‘institutionalise’ policy framework review, Powell says
Move would likely be akin to the Bank of Canada’s routine five-year review
New Zealanders increasingly abandoning cash – RBNZ survey
RBNZ warns about the effects a cashless society may have on those already excluded from digital innovations