Switzerland
SNB analyses monetary policy role in containing external inflationary factors
Research finds independent monetary policy protects Switzerland against international spillovers
Record-high FX reserves prompt new questions for SNB
Reserves reach $734 billion as Swiss franc depreciates against euro
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
People: French deputy takes on stock market oversight; Myanmar set for change
French deputy made chairman of stock market regulator; new board and three deputies appointed at Myanmar central bank; Svein Andresen to depart the FSB
BIS paper seeks hints that Swiss franc floor was about to break
Measures derived from option prices indicate credibility fell before floor was removed; error correction model shows some improvement over random walk
Trust key to interbank lending, study finds
'Social collateral' collapsed during 2008 crisis, finds Swiss National Bank paper
Overvalued Swiss currency is keeping rates low – SNB’s Jordan
The Swiss franc remains “significantly overvalued”, despite low interest rates and forex interventions; expansionary monetary policy makes the franc “less attractive” for investors
Culture has ‘significant’ effect on Swiss saving – paper
Researcher uses data from linguistically different Swiss groups
SNB launches next new banknote alongside updated app
New 20-franc note incorporates the theme of light not only in design but also in identification of security features; Kurz foil element once again integrated
SNB annual report sheds light on equity investing strategy
Central bank details approach to investing around 20% of its foreign exchange reserves in equities, including diversification, activism and avoidance of political considerations
MAS considers revising limits on coin payments
Singapore central bank mulls blanket restriction of 10 coins per denomination in a single transaction; new arrangement would align the country with Norway and Switzerland
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
BIS paper identifies spillovers from targeted macro-prudential policies
Applying tools narrowly to a sector may nevertheless affect other sections of the financial system, authors find
QE may be partly to blame for global market correlations – SNB’s Maechler
Andréa Maechler says quantitative easing may cause some bond and equity prices to move simultaneously, but there are likely other factors at play as well
SNB paper models ‘sticky consumption’ in Switzerland
Assuming consumption habits are slow to change helps produce more robust results than other methods, author finds
People: Finland appoints two central bank board members; Atlanta Fed promotes senior managers
Former European Commissioner Rehn joins Finnish board; Atlanta Fed makes four promotions; Switzerland changes regional delegate
Singaporean and Swiss regulators move against merchant bank in 1MDB scandal
Senior management pressured staff to ignore anti-money-laundering regulations, reports say
ECB bulletin says institutional reform important for increasing resilience
Governing institutions in eurozone countries need reform, the ECB says; Finland’s institutions are among very best in OECD but those of Greece and Italy are close to worst
MAS announces ‘firm regulatory actions’ against multiple banks
Monetary Authority of Singapore finds “control failings” at DBS, Standard Chartered and UBS as part of probe into 1MDB funds; US Department of Justice seeking to recover $1bn in assets
SNB paper challenges idea that capital flows drive Swiss franc value
Empirical study finds no strong relationship between capital flows and the level of the franc, meshing with earlier literature showing asset prices can move sharply without major portfolio shifts
Swiss regulator forms resolution division
Regulator hopes to focus its efforts by uniting disparate teams in a new division, with current enforcement chief David Wyss becoming head of resolution
Regulators sanction Swiss bank over links to Malaysian government fund
Swiss regulators impose range of measures on bank for breaching anti-money-laundering regulations; MAS will withdraw bank’s licence to act as merchant bank in Singapore
Swiss franc still ‘significantly overvalued' – Jordan
Chairman of Swiss National Bank governing board says dual policy of negative rates and willingness to intervene in forex market are helping support the economy
SNB officials fend off latest ideas for reform
Thomas Jordan and Jean Studer warn of the damage that could be done by proposals including sovereign money, broader mandate and using reserves to create sovereign wealth fund