Financial crisis
Tapping into big data’s potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.
Trump nominates Jerome Powell as Fed chair
As a Fed governor, Powell has never issued votes of dissent against FOMC decisions
Bank of England pulls trigger on rate hike
Committee split 7-2, but Carney strikes hawkish note on need for further hikes
Banks will continue to gamble with public money, says Gordon Brown
Former UK prime minster says lax punishment of banks has left risky culture intact; “inevitable” rogue bankers will continue to gamble with public money
A new era for the BIS
As Basel III inches towards closure and a new BIS general manager prepares to move into his post, Jaime Caruana talks to Daniel Hinge about his eight years at the helm
BIS could have done more to convey capital benefits – Caruana
Outgoing general manager says he would like to have better conveyed the “positive message” around capital, and made more progress on policy spillovers
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
Text mining reveals differences in PRA approach
Researchers compare Prudential Regulation Authority’s communications to its predecessor using a machine-learning algorithm
Italian premier proposes Visco for a second term, despite opposition
Former prime minister Renzi tried to derail governor’s renewal, questioning his record on supervision
US debt and delinquency exceed pre-crisis levels – research
After five years of deleveraging, US households started to increase their debts in 2013
China’s party congress hints at new PBoC chief
Contest narrows to banking regulator head Guo Shuqing and Hubei province party secretary Jiang Chaoliang
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
ECB’s Nouy advocates global banking supervisory co-operation
The international nature of the financial system demands regulation across borders
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
Banking industry has ‘consistently failed customers’ – Ireland’s Sibley
Banks should focus on whether outcomes are desirable, not just whether they are legal, says deputy governor
Blanchard and Summers call for rethink of stabilisation policy
Both economists question consensus on fiscal prudence and advocate stricter financial regulation
IMF cautions global vulnerabilities put growth at risk
Fund calls central banks to provide needed monetary support while tackling underlying threats
Fed policy has had bigger impact on global liquidity since 2009
A 25bp rate cut causes a cross-border lending growth to rise of two percentage points, versus 0.8 before the crisis, researchers find
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Banco Sabadell relocates outside of Catalonia
The bank wants to ensure it remains under the supervision of the ECB
China’s deleveraging efforts pose global financial risks, research says
A sudden financial shock may imperil demand, trade and commodity prices
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
Data shows growing medium-term risk for global economy – IMF
Researchers assess three types of financial data as predictors of GDP growth risk
Perng Fai-nan on how Taiwan has eluded crisis for 20 years
Taiwan’s governor explains how pragmatic interventions have engendered two decades of financial stability, despite the island’s status as a small, open economy