Articles by Central Banking Newsdesk
Denmark is entering a boom – central bank
The Nordic country is benefiting from the growth in export markets, including the US and eurozone
Fed issues AML enforcement order on China’s largest bank
Bank must submit to third-party review of “high risk” transactions and customers, Fed says
Esma working group concerned about Euribor transition timeline
ECB’s Cœuré says new regulation has set “demanding” timeframe to find alternative to benchmark interest rates
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
BIS’s da Silva defends DSGE modelling efforts
The models have not performed as badly as critics claim and new research efforts are creating fresh possibilities, says BIS’s deputy general manager
RBI paper finds complexity in exchange rate pass-through
Authors argue the standard view of exchange rates having a “linear and symmetric” impact on prices is flawed
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
RBA highlights ‘unique’ design of Australian faster payments
System operates on a distributed basis, is separated from commercial “overlays”, and offers real-time settlement of each transaction, says assistant governor
Financial frictions key to DSGE performance – NY Fed paper
Post-crisis period was a harsh testing ground for structural models, but the New York Fed’s DSGE model was at least equal to private forecasts, researchers say
Norwegian SWF invested $1.9 billion in unlisted real estate in 2017
The fund obtained a 7.5% return in a part of its portfolio that amounts to $28 billion
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
BIS research finds ‘scant evidence’ of shift away from cash
Rise of electronic payments is not reflected in falling demand for cash
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
ECB’s open market operations often raise banks’ liquidity – paper
Asset “haircuts” imposed by ECB often smaller than those in repo markets – researchers
Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
BoE not to blame for gold standard-era crises in US – paper
Bank of England’s rate decisions between 1884 and 1913 were not responsible for “causing or aggravating” crises in the US, author finds
MMFs lower risky investments in low-rate environment – paper
After a 1% rate cut, money market funds decrease risky investments by 25 percentage points
Return of volatility helps shatter market illusions – BIS’s Borio
Quarterly review focuses on recent market gyrations; researchers outline new early warning indicators for financial stress
BoJ policymakers eye hopeful signs for inflation
Policy remains on hold as inflation shows some signs of greater strength; one member calls for further easing measures
Richmond Fed economists weigh idea to prevent bank runs
“Priority” bank accounts could force customers to reveal whether a run is developing
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
Paper warns emerging markets of pitfalls of credit easing
While the effects of credit easing are benign for advanced economies, developing and emerging countries may experience macroeconomic repercussions
ECB removes promise to increase bond purchases if needed
Stronger economic growth confirms previous confidence of rate-setters, Draghi says; ECB president criticises threatened tariffs