Articles by Central Banking Newsdesk
People: Finland sets out new board responsibilities
Two new members have been appointed to the Czech central bank’s board; new counsellor to Draghi replaces Smets at the ECB
FSB issues draft guidance on CCP resolution
Regulators’ powers should include “bail-in” and “full tear-ups”, FSB recommends; regulators should have resolution plans for all systemically important CCPs, including cross-border provisions
Basel capital floors are necessary – Riksbank’s af Jochnick
Internal models have led to doubts over true capital adequacy, Riksbank deputy says, so floors have an important role to play
Mersch: volume of T2S trades due to greatly expand
The “Target instant payment settlement system” could be working as soon as 2018, Mersch adds
Unconventional policy has improved ‘pass-through’, says ECB
“Simple pass-through models” are ill-equipped for analysis, paper argues
Fiscal rules fail to tackle EU policy biases – IMF research
Many biases relate to political economy factors, and should be tackled by future adjustments to the governance framework, IMF economists say
BoJ ups growth forecast after Trump shock
Improvements in overseas economies and yen weakness prompt central bank to revise up its growth forecast, though inflation is largely unchanged; policy remains on hold
Irish central bank to survey credit unions’ controls
Central bank has “concerns” over quality of some institutions’ systems, deputy registrar says
Esma calls for more powers over rating agencies and repositories
Agency head says he is not sure if European Commission will act on his recommendations
BIS authors design game of asset managers
Authors model effects of cash hoarding and investor runs, finding that “hoarding is the rule, rather than the exception”, with implications for stress testing
SBP to work with World Bank on supervisory framework
Deal will see World Bank provide technical assistance on a range of projects as it extends its paid-for advisory services into south Asia
Italian governor calls for reform of NPL regulations
Bank of Italy paper sets out proposals for sterilising effects of NPL sales
RBI signals end to cash controls
Central bank prepares to lift restrictions on cash withdrawals but shift from “demonetisation” to “remonetisation” is only partially complete
Nigerian central bank attacks ‘unpatriotic’ critics of forex regime
Reserves under pressure due to “huge fall” in earnings, the bank admits
Ukraine governor says bank has met first inflation target
Gontareva says Ukraine should hit tighter target for 2017
Regulations and QE impacting repo market – ECB’s Mersch
Executive board member says “confluence of factors” has boosted demand for collateral and impaired its supply, but the situation may improve
BIS authors identify tipping point in household debt impact
Researchers trace the effects of household debt on the real economy, identifying thresholds beyond which the long-run impact on consumption and growth intensifies
Italian inflation pressures are weakening – ECB paper
Price cuts are more common for manufactured goods, the researchers say, while price increases for services are slowing
Bundesbank DL project not yet viable – board member
The conceptual study is “far from market-ready”, says Carl-Ludwig Thiele
Bank of Russia to buy forex to counter oil price changes
Central bank will sell or purchase forex at the direction of the finance ministry
Tight policy keeping a lid on inflation – Central Bank of Iceland
“Steep” pay increases and rising house prices keep the central bank on alert; report warns the situation could easily change
ECB papers examine low inflation
Researchers differ over eurozone inflation expectations
FSB: ‘no immediate case’ for aligning rehypothecation rules
No pressing need to harmonise rules, but better monitoring of global collateral reuse will give regulators a clearer understanding, FSB says
IMF faces funding challenges, Irish paper says
Current funding set up is “fragile” with “significant uncertainty”, paper argues