Articles by Central Banking Newsdesk
UK audit office praises most of BoE’s ‘One Bank’ strategy
Report says Bank of England has been broadly successful in its transformation, although there have been some delays and changing culture is a long-term challenge
Italian paper looks at effects of crisis on interbank network
Integration fell in 2007–8 but rose after ECB adopted unconventional policy, paper finds
MAS’s Menon plays down record profit figure
The record-breaking profit was due to strong positive currency translation effects and higher investment gains
Survey data can help with modelling expectations – BoJ paper
Discussion paper outlines method of incorporating survey data as a proxy for expectations, with “promising” results for inflation modelling in the US and Japan
Fischer cautions against complacency
Fed vice-chairman says it would be “foolish” for policymakers to think they have eliminated all risk; there are still areas where supervisors have “limited insight”, says Fischer
FSB builds analytical framework to tackle fintech risks
Report defines “technology neutral” method of classifying fintech firms, helping to pin down potential costs and benefits
Yellen urges caution on regulatory adjustments
Janet Yellen and Mark Carney say the US could adjust its banking regulations without undermining global standards; Basel’s Coen stresses need for co-operation
Sarb appeals to court in battle to defend mandate
Kganyago stresses public protector’s words have had a “serious and detrimental effect on the economy”; her recommendations risk “further downgrades”, he says
Norwegian commission calls for reform of Norges Bank
Mandate, board and legislation should all be changed, says former governor Svein Gjedrem
RBNZ’s Hannah: central bank is working to close trust gap
Survey in 2014 showed how poor public understanding of the central bank’s work went hand in hand with low trust
‘Multiple lending’ may cause contagion during stress – paper
Researchers say multiple lending may ease liquidity shocks in normal conditions, however
Bank of Israel: competition reforms could add to rapid credit growth
Credit to households continues “significant” expansion and may be boosted by banking competition reforms, central bank warns
BIS rewrites statutes to boost board diversity
Changes reduce the influence of the BIS’s European directors and could pave way for better representation of emerging markets
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
Norges Bank study: regional network is supplying useful information
Central bank’s network of contacts is able to deliver better information on growth than other sources, report finds
Bank of Israel warns banks are exposed to vehicle finance
Central bank warns exposures are “not negligible” and continue to grow, although they do not yet present a systemic risk
‘No evidence’ of criminality in BoE crisis auctions
Bank of England given all clear on question of whether financial crisis liquidity auctions were rigged; central bank has now corrected may of the issues with its liquidity framework
Exogenous constraints affected asset purchase programme, Irish paper says
Research letter looks at impact of extended scheme
ECB announces instant payment settlement scheme for 2018
“Tips” will be based on existing Target-2 system
BoJ’s Iwata says expectations likely to shift as inflation returns
Deputy governor cites Milton Friedman in arguing that people will become more forward-looking when their wages are eroded by inflation
RBI minutes: ‘abrupt’ retreat of inflation calls for caution
MPC members express surprise at swift retreat of food prices, though they warn against setting policy by looking in the “rearview mirror”
Biggest US banks weather severe stress test
Fed report on stress tests applied to 34 bank holding companies indicates largest institutions would remain well capitalised even in a severe shock
BoE’s Forbes points to bias among overworked MPC members
Senior Bank of England officials are overworked and heavily scrutinised, which may make it harder for them to take tough decisions, Kristin Forbes says in her final speech as an MPC member
Malaysian government escalates investigation on historic forex losses
Commission will investigate heavy forex losses by the Malaysian central bank in the early 1990s, after task force finds evidence information was concealed