Data
Modern central banks need big data strategy, Riksbank economists say
Central banks need to adapt to growing data volumes, but the organisational changes required could help departments work together more closely, economists say
Bean calls for overhaul of UK statistics
Report dissecting UK statistics production calls for national statistics office to become more agile, make use of new forms of data, and tackle shortcomings
Presentation of big data key to inspiring research, academic argues
New York University professor says financial regulators need to learn from large-scale scientific projects and online retailers to encourage ‘research communities’
The big data revolution and central banking
Central banks are increasingly turning their attention to the challenge of analysing very large datasets. But is ‘big data’ as revolutionary as some claim?
Harnessing network theory for more prudent bank supervision
Closer supervisory activities and data-sharing post-crisis offer the potential to harness network techniques to gain an improved understanding of financial risks
‘Disclosure task force’ can tackle climate risks, FSB says
Industry-led group would develop voluntary disclosures relating to climate change; Mark Carney says better information could head off a ‘climate Minsky moment’
FSB finds fault with derivatives trade reporting
Despite large volumes of trades being reported, some authorities have restricted access to data, which is often low quality; some jurisdictions are experimenting with new analysis
Central banks starting to unlock potential in big data
Some central banks are making tentative inroads into the study of big data, and many more want to, a study by the BIS’s Irving Fisher Committee finds
IMF reveals Cofer submitters but scraps advanced-emerging breakdown
Fund reveals 96 economies submitting their reserves breakdown to the Cofer database, in the name of transparency – but axes breakdown of advanced/emerging economies for fear of revealing too much
Paraguayan central bank plans to expand new database
Central Bank of Paraguay aims to include wider range of data in new online platform, which was launched last week to ‘favourable reception’
BIS reveals new data output in review
Bank for International Settlements expands data around international banking, government debt and private debt service ratios; launches new bulletin and online exploration tool
Bundesbank's Buch pinpoints importance of impact studies for macro-pru policy
Claudia Buch emphasises the usefulness of impact studies for macro-prudential policy, arguing data is an insufficient stand-alone indicator
Cœuré warns ‘serious data gaps’ still exist
ECB executive board member says serious gaps, inconsistencies and inefficiencies still exist in many areas important for monetary policy and financial supervision
IMF paper challenges idea of debt threshold effect
Countries with high levels of public debt can grow just as fast as their peers, provided the debt is on a downward trajectory, research finds
Riksbank is working on ‘big data’, says Skingsley
Deputy governor speaks to Central Banking about bringing together experts on big data, the possibility of leaning against the wind, risks in the housing market and more
CPMI-Iosco launch next phase of data aggregation work
Standard-setters begin consultation on first batch of key data on over-the-counter derivatives, as part of work on data aggregation by trade repositories
SNB launches interactive ‘data portal’
Central bank plans to release larger volumes and more detailed data in future, after launching an online database to help users find and manipulate the information
CPMI-Iosco unveil plans for unique transaction identifiers
Consultation lays out proposals for codes to identify over the counter derivatives transactions, as part of efforts to improve reporting to trade repositories
BoE economists mine tweets for early-warning indicator
Central bank put its work on ‘text mining’ and big data to work during Scottish independence referendum in an attempt to create an early-warning indicator for bank runs
RBI deputy says big data crucial for banks learning more about customers
Harun Khan warns harnessing big data presents challenges to banks, but it offers a way of achieving a ‘significant competitive advantage’, at seminar on information technology
Devising effective data strategies to help inform policy decisions
The publication of the Irving Fisher Committee’s report on good data practices offers the potential for powerful data sharing, but more work needs to be done at the tactical and practical levels
Solomon Islands governor shifts financial inclusion focus
Denton Rarawa tells Central Banking the Solomon Islands will meet its target for access to financial services early, and work on improving usage and quality should come next
European Commission looks to unshackle big data
In its quest to create a digital single market the commission plans to tackle restrictions on the free movement of data; champions transition to ‘open science’
Central Bank of Timor-Leste launches e-payments network
The ‘highly secure private interbank data network’ allows electronic payments to be made and received between any individuals or companies on the same day