Articles by Central Banking Newsdesk
Basel disclosure proposals add ‘dashboard’ of risk metrics
Fresh proposals on Basel III disclosure aim to simplify comparison of banks’ prudential positions; banks will also have to disclose “benchmark” risk weights based on standardised approach
Bank of Russia obliges non-banks to join officially recognised self-regulatory bodies
All non-bank financial institutions in Russia must join one of seven officially recognised self-regulatory organisations; newly formed companies must comply within 180 days
‘Compositional’ drag on wages set to fade, BoE article finds
Labour force composition has changed markedly in recent years, putting downward pressure on wages, but recent data implies the effect may soon dissipate, researchers say
RBNZ keeps settlement system due to lack of suitable bids
The Reserve Bank of New Zealand will retain its securities settlement system and depository, despite hoping to find it a new owner; also investing in separate platforms for NZClear and Esas
Paper uses machine learning to nowcast GDP in Lebanon
Working paper published by IMF explores use of machine learning technique in assessing economic conditions in Lebanon, where analysis is a ‘distinct challenge’ on account of data lags
Zeti stresses need for Asean ‘partnerships’
Malaysia governor outlines four foundations anchoring successful partnerships; trust is crucial, she says, but must be accompanied by accountability
Sama completes payments infrastructure upgrade
Infrastructure overhaul allows faster card payments and higher volumes, supporting the expansion of electronic payments in Saudi Arabia
Norges Bank organisational changes geared towards better investment
Revamp of organisational structure is mainly focused on improving the governance of the sovereign wealth fund, which delivered a return of 2.7% despite turbulence last year, annual report reveals
FPC members deny charges of 'groupthink'
Clara Furse and Richard Sharp argue debate is robust and give examples of where they have challenged the financial policy committee’s majority views; agree to consider issue further
BoE’s Bailey dismisses ideas for radical banking overhaul
PRA chief stands by the current design of banking regulation, rejecting more radical options involving higher levels of equity as “just not practical”
Paper finds evidence in favour of ‘exchange-rate-anchored inflation targeting’
A working paper published by the IMF finds ‘tight management’ of the exchange rate can help support inflation targeting in ‘less developed countries’
Brainard warns of segmentation of liquidity
Recent changes in liquidity practices may heighten financial markets’ vulnerability in stressed conditions, Brainard says; downward pressures on inflation remain, she adds
RBA’s Lowe says productivity still a problem
Australia has proven resilient through an uncomfortable rebalancing phase, but the economy is still plagued by disappointing productivity growth, deputy governor says
BIS paper: short-term interest rate may no longer be enough to set policy
Globalised debt markets, the falling long-term interest rate and dollar debt accumulation has altered every major aspect of the monetary transmission mechanism in emerging markets, authors say
Bundesbank publishes data on German ‘closed-end’ investment funds
Deutsche Bundesbank begins publishing data on German ‘closed-end’ investment funds; sector had total assets of €82.4bn in January 2016, with nearly half of investments in property market
Ukraine eases domestic currency and forex restrictions
Ukraine’s central bank loosens restrictions on foreign and domestic currency deposit withdrawals; Gontareva says Ukraine is on track to hit inflation targets but warns of political risks
Regulation affects pass-through to current account, BoE paper finds
Discussion paper sets out theoretical and empirical backing for idea that low rates can cause a current account deficit to grow, in the presence of liberalised financial markets
Securitisation can dampen business cycles, paper finds
When securities are bought by ‘non-financial agents’ instead of financial intermediaries, they can help dampen rather than amplify cycles, research says
Zeti plays down Chinese problems at 2016 Central Banking Awards
Lifetime achievement recipient discusses monetary policy ‘over-reliance' and gender in fireside chat with editor-in-chief Christopher Jeffery
Networks did not spread 2008 shocks in eurozone money market, paper argues
Banking networks in the eurozone did not play a major role in spreading shocks in the financial crisis, ECB working paper argues; eurozone banks are ‘not network dependent’
Singer outlines evolution of Czech reserves
Miroslav Singer tells London audience the Czech National Bank reserve allocation remains 'conservative', despite expanding into equities and new currencies in recent years
PBoC confirms Russian swap transactions
Chinese and Russian central banks disclose 'several currency swap trades' since October, but do not disclose further details
BoJ’s Nakaso insists deposit rates are not going negative
Deputy says a 'wide range' of interest rates will fall due to the BoJ’s negative rate policy, but experience in Europe implies depositors will not suffer
Cunliffe: UK housing risks back on the rise
BoE deputy governor says household balance sheets are “stretched” and some risks are growing; suggests dominance of debt as housing finance is undesirable, but unlikely to change