Articles by Central Banking Newsdesk
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation
Authorities need to deal with ‘limitations’ of global standards
The BIS’s Fernando Restoy says global standards do not cover all possible risks, and national supervisors need to fill in the gaps
MAS aims to move OTC derivatives trading to ‘organised market’
As much as 80% of interest rate swaps in Singapore would have to be executed on exchanges or other centralised trading facilities
ECB lacks power to investigate money laundering, Nouy says
Frankfurt ordered the shutdown of Latvia’s ABLV Bank after US Treasury accused it of illicit practices
Italian consumer lending more risk-priced post-2008 – paper
Institutions tightened lending to consumers based on household factors
‘Tilting’ building forces Seychelles central bank tenants to relocate
Central bank annex shows signs of “tilting” due to construction work nearby; tenants asked to immediately relocate
Thailand set to approve banking agents amid inclusion push
Financial inclusion effort means people can take deposits, transfer money and pay bills at banking agents, such as small merchants and post offices
Philadelphia Fed’s Harker forecasts only two hikes in 2018
Despite stronger growth and lower unemployment, inflation remains too weak
Denmark selects Oberthur Fiduciaire as banknote supplier
The agreement will last four years, and the first notes printed by the firm are set to enter circulation in 2020
Central banks ‘walking a thin line’, BIS economists warn
Luiz Awazu Pereira da Silva and Jochen Schanz note central banks have little room to respond aggressively to surprises
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
UK figures reveal 1.47 million people out of work
While the employment rate has continued to rise, the rate of unemployment has increased by the sharpest level in almost five years
Swedish inflation falls in January as Riksbank considers first hike
The CPI at fixed interest rates fell to 1.7% in January, compared with forecasts of 1.9%
UK’s Treasury Committee publishes contentious report on RBS
Report had been protected under UK confidentiality laws, but parliamentarians chose to publish it regardless; report highlights “widespread inappropriate treatment” of customers
Carney extols value of clarity of thought and communication
Bank of England governor delivers speech on virtues of a good leader
RBI under pressure from alleged banking fraud scandal
Alleged fraudulent transactions uncovered at Punjab National Bank undermine the firm’s capital position; RBI launches investigation into “increasing incidence of frauds”
CPMI flags up need for better cross-border payment options
Current infrastructure offers slow and costly transactions that are hard to track, says Committee on Payments and Market Infrastructures
People: Nominations to BoJ; Moghalu mulls presidential bid
Kuroda nominated for fresh term alongside two deputies; former CBN deputy considers bid for Nigerian presidency; Riksbank deputy reappointed
BIS paper uses ‘shadow rate’ to study market expectations
Fan Dora Xia and Jing Cynthia Wu find they can estimate expectations over a longer horizon by using a shadow rate term structure model
Reserve managers made financial crisis worse for central banks – paper
Synchronised withdrawal of funds from commercial banks made central bank stabilisation efforts “more difficult”, IMF paper says
Algo trading harmed market during Swiss franc crash – paper
Algorithmic traders tended to “consume liquidity and reinforce the price disruption”
NY Fed paper measures global capital flow pressures
The authors’ method allows them to estimate how sensitive countries are to changes in global risk aversion, as well as overcoming problems with capital flow data