Articles by Central Banking Newsdesk
Swiss National Bank open to buying foreign assets
IMF article IV report suggests buying foreign assets to address deflationary pressures; Swiss National Bank says it is an option but wants to see how outlook develops before easing further
ECB paper highlights stability and growth benefits of market-based finance
Researchers suggest high bank leverage may be amplifying booms and busts, damaging both financial stability and economic growth, with one solution being more market-based finance
ECB article calls for ‘consistent’ macro-prudential policies
Article in latest financial stability review says policies should be applied consistently across the eurozone to avoid spillovers
Micro-prudential policy ‘bulwark’ against systemic risks, says San Fran Fed’s Williams
President says prevalence of shadow banks limits use of conventional macro-prudential tools, but there are other ways to integrate the perspective into the regulatory framework
Central Bank of Iceland prepares for ‘substantial’ interest rate increases
Minutes show MPC grappling with uncertainty around pay increases but board members agree interest rates will soon have to move upwards sharply; one member dissented from rate hold
Second Hong Kong sukuk oversubscribed by 100%
Five-year Islamic bond hits home with investors, including central banks, pushing coupon below 2% – 35 basis points above US Treasuries with same maturity
BoE’s Taylor dismisses calls for ring-fence to be dismantled
FPC member warns of damage that could be done if ‘increasingly shrill’ voices calling for regulation to be rolled back are heeded
Zeti sees ‘immense scope’ for greater financial integration in SE Asia
Bank Negara Malaysia governor tells SME conference that greater integration can help support small business growth; points to banking, insurance and capital markets as ‘next phase of development’
RBA deputy governor shares lessons on collective investment vehicles
Philip Lowe discusses the risks associated with maturity transformation in the country’s growing asset management industry; says disruptions can be managed
Riksbank risk survey flags concern over easing impact
Respondents warn of a slight deterioration in the outlook for financial stability after launch of further monetary easing, including higher levels of risk and lower liquidity
Fischer sees limits to Fed’s global responsibility
Federal Reserve vice-chair says the most important contribution the central bank can make to health of world economy is keeping its own house in order
HKMA's Chan praises cross-border funds initiative as liberalisation milestone
China's Securities Regulatory Commission and Hong Kong's Securities and Futures Commission announced Mutual Recognition of Funds initiative on Friday
ECB paper flags risk of ‘collateral damage’ from financial transaction tax
Working paper finds an increase in transaction costs, such as the financial transaction tax mooted in the EU, could impact the availability of collateral and damage market liquidity
FSB peer review: home-host divide still looming large
Despite progress on supervising systemically important banks, relationships between supervisors across borders are still lukewarm
Kuroda sees little difference between major central banks
Despite the different wording of the major central bank mandates there is ‘little practical difference’ between them, BoJ governor says
Pakistan completes shift to new policy rate
New target rate and tighter corridor aims to improve the transmission of monetary policy; central bank slashes rates as inflation continues to fall
Bank of Botswana laments productivity ‘constraint’
Central bank recommends range of policies to address low productivity in Botswana, including educational reform, financial inclusion and more efficient public service provision
Mester wants new models to get to grips with policy nexus
Cleveland Fed president sets out the kind of structural general equilibrium models needed to help understand interactions between monetary and macro-prudential policy
IMF staff tell BoJ to 'stand ready' to ease further
Statement at conclusion of IMF article IV warns inflation expectations 'broadly flat' in recent months; calls on BoJ to prepare for more easing and improve communication
National Bank of Slovakia hails significant new responsibilities in 2014
Annual report highlights broad changes to its key activities, as the central bank took on new staff to cope with expanded supervisory role
Riksbank deputy debates inflation target change
Cecilia Skingsley weighs up case for both lowering and increasing target; notes it would be easier to change target if several central banks did it at the same time
Mario Draghi urges reform to ‘unleash’ eurozone potential
ECB president highlights importance of the credibility and type of structural reforms, as well as their interaction with other policies; Stanley Fischer points to ‘missing fiscal framework’
BoE’s Weale warns MPC may have underestimated oil price impact
A failure to grasp the full importance of ‘tail events’ may have caused the monetary policy committee to underestimate the strength and duration of the oil shock’s impact on inflation, Weale says
EBA prepares to toughen European payments regulation
Plans in motion for tougher and more harmonised retail payments regulation in Europe; EBA names which national regulators have failed to comply with online payment guidelines