Articles by Central Banking Newsdesk
LatAm should pursue regional financial integration – IMF paper
Timing is “ripe” for region to pursue financial integration as means of counterbalancing effects of departing global banks, authors say
Bank of Mexico launches cost-cutting drive
Central bank move follows government austerity drive, and includes a target of a 10% cut to the wage bill
BoE paper maps contagion via CDS market
Economists identify mechanism whereby declining creditworthiness can spill from one bank to another via credit default swaps
People: Frank Smets to head ECB economics department; new Chilean board member
Long-serving ECB economist becomes director-general; Chilean senate ratifies the appointment of Rosanna Costa; new communications director for Banque de France
Yellen: Fed asset holdings provide automatic policy tightening
Downward pressure on long-run rates is expected to diminish, making the need to hike short-term rates less pressing, the Fed chair says
EBA and Esma request clarification of CCP regulations
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
Dutch paper looks at effects of public capital on advanced country growth
Researchers present data on 20 OECD countries
Non-banks may amplify risks from policy divergence, Nakaso warns
Non-banks may be less constrained than banks in supplying dollar funding, but it could dry up at the first sign of trouble; the BoJ starts stress testing foreign currency liquidity
EU watchdog enquires into Draghi’s membership of G30
NGO accuses ECB of being too close to financial industry
ECB paper compares financial inclusion in US and eurozone
Encouraging transfer payment recipients to open accounts has positive effect, study finds
Denmark to trial primary dealer payments in effort to boost liquidity
Central bank says payments in exchange for tougher requirements should improve liquidity, which has shown signs of weakening
Bank of Italy sells off three ‘good banks’ for €1
UBI Banca agrees to recapitalise banks created from regional lenders
Right culture is vital for insurance firms – Irish regulator
Sylvia Cronin says proper approach cannot be “regulated into existence”
Draghi says ‘substantial’ accommodation still necessary for eurozone
ECB sets out new criteria for asset purchases; Draghi says headline inflation rises are driven by energy prices
RBNZ paper sheds light on core macro model
'NZSIM' is a semi-structural model, with a DSGE core augmented with a handful of additional equations
Bank of Canada re-modelling export links to US – Poloz
Previous approach may have over-estimated importance of US when modelling exports, governor says; uncertainties over US fiscal policy makes forecasting challenging
Riksbank early warning indicator signals high risks
New measure of financial fragility performs better than credit gap method, economists say; current readings suggest risks are on a par with 2008
Yellen: Fed expects rates to hit long-run level by end-2019
Fed chair warns there could be a “nasty surprise” down the road if policymakers wait too long to raise rates
Minneapolis Fed launches new research institute
“Opportunity and inclusive growth institute” will draw on multiple disciplines to extend the Fed’s research
BIS paper finds Fed’s QE had little discernible impact on real economy
Results are still preliminary, authors say, but “cast some doubt” on the effectiveness of US quantitative easing
No evidence fiscal rules affected Spanish deficits – paper
Researchers look at fiscal record of Spanish regional governments over 2002–15
Farms, germs and loans: central banking in 19th century France
Researchers study Banque de France’s lender-of-last-resort operations
‘Digital base money’ could hinder monetary policy, ECB official warns
Mersch examines means of issuing central bank-backed digital money to non-banks
Irish central bank sells old premises for €67 million
Move to new purpose-built premises due to be completed by end of first quarter