Federal Reserve Bank of New York
NY Fed’s Dudley looks to boost CCP resilience
Federal Reserve Bank of New York president praises progress in extending global regulatory regime to central counterparties but calls for more work on their ‘recovery and resilience’
Fischer: more research needed on stress testing
Fed vice-chair sees room for improvement in the design of stress testing; NY Fed’s McAndrews fleshes out possible research agenda
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey
Dudley expects ‘some turbulence’ when Fed hikes rates
New York Fed president highlights importance of short-term rate path for financial asset prices – something he says will reflect changes in economic outlook and financial conditions
Cœuré and Dudley question case for policy co-ordination
ECB board member says central banks can ‘free themselves’ from influence of global financial cycle; NY Fed president says Fed should focus on promoting growth and stability in US
NY Fed’s McAndrews warns negative rates could drag inflation down
Director of research highlights some of the more radical unintended consequences that could stem from negative rates, including new forms of currency and inflation moving in unexpected directions
Jobs data recovers in the US as Dudley looks to help small businesses thrive
Non-farm payroll employment increases by 223,000 in April after a difficult March; NY Fed president considers how small businesses can access credit and expand
Central Bank of Argentina publishes secret minutes from last dictatorship
Argentina’s central bank releases minutes from secret board meetings during the country’s last dictatorship, which will "shed some light on one of Argentina’s darkest periods", says governor
People: NY Fed names first vice president; HKMA promotes research head
Michael Strine succeeds Christine Cumming as first vice president at the Federal Reserve Bank of New York; Lillian Cheung becomes executive director for research in Hong Kong; and more
Op risk analysis underrates human behaviour – Fed examiner
Next-generation operational risk should focus on behavioural dynamics in financial firms
NY Fed wants ‘enhanced communication’ around cyber threats
Sarah Dahlgren says the New York Fed is interested in learning from breaches in security elsewhere and using the intelligence to ‘get ahead of the game’
Fed officials grapple with lift-off details
Minutes from January FOMC meeting reveal extensive discussion about the tools at the Fed’s disposal when it wants to raise rates; idea of higher cap for overnight RRPs explored
People: Sejko confirmed as Albania governor; Vietnam names deputy
Gent Sejko confirmed in post after being nominated in December; Nguyen Kim Anh becomes sixth deputy governor at State Bank of Vietnam; and more
New York Fed unveils new way to calculate funds rate
Central bank plans to base the rate on a new dataset that captures a broader range of market activity; move likely to happen in about a year’s time
NY Fed's Baxter targets stronger ethical culture in banks
Thomas Baxter says progress is more important than ‘perfection' in promoting better behaviour among financial industry workers
New York Fed consultant slams bank's ‘intensely deferential' regulatory culture
David Beim, a Columbia professor who conducted confidential review into regulatory practices, says employees who speak out are ‘frequently hammered down' by supervisors
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties
Dudley says Federal Reserve could do more to be a ‘better global steward'
Permanent FOMC member suggests dollar's reserve currency status sets the US central bank apart; warns Fed funds rate hike likely to spark ‘market turbulence'
Failure to improve culture will be punished, say Dudley and Tarullo
Fed officials say banks that fail to improve culture will face regulatory sanctions, including the possibility of being ‘dramatically downsized and simplified’
New York Fed’s Potter fleshes out normalisation plans
Vice-president responsible for open market operations gives details on how the Fed will use interest on excess reserves and reverse repos to raise its interest rate
Fixing Libor needs more work, says NY Fed’s Dudley
NY Fed president says gaps in the Libor framework still need to be plugged; Fed and FSB working on solutions
Warren turns up heat on NY Fed following allegations of supervisory mismanagement
US Senator says leaked recordings suggest ‘basic lack of truthful reporting’ at institution; New York Fed has already defended the 'integrity' of its supervision
US senator calls for hearings into NY Fed supervision
Elizabeth Warren says ‘disturbing issues' raised by former employee's secret recordings of colleagues; New York Fed ‘categorically rejects allegations'
New York Fed blog to make DSGE forecasts public
Federal Reserve Bank of New York publishing five-part series on DSGE model and how it is used to forecast inflation and output in the US economy