Articles by Central Banking Newsdesk
People: Mexican deputy gets second term; Paraguay names new director
Mexican president reappoints Legaspi as deputy governor of Bank of Mexico; Central Bank of Paraguay promotes legal unit manager to director; and more
ECB health check ‘putting strains’ on Cyprus central bank
IMF staff report finds the operational capacity of the Central Bank of Cyprus is being stretched by the transition to the SSM, including the ECB's comprehensive assessment
Angolan central bank looks to boost BESA capital by $4.3 billion
National bank of Angola sets out plans to recapitalise BESA; Novo Banco will get a 9.9% stake in the bank and receive $850 million over ten years in restructuring deal
Failure to improve culture will be punished, say Dudley and Tarullo
Fed officials say banks that fail to improve culture will face regulatory sanctions, including the possibility of being ‘dramatically downsized and simplified’
Dollar and renminbi can coexist as global currencies, Eichengreen says
Bank of Korea paper finds that ‘networks are open and several international currencies can coexist’, suggesting the dollar and the renminbi will share the role in the future
Trade balance improves after fiscal devaluation, study finds
European economists analyse the effects of a temporary fiscal devaluation in Spain and Portugal, finding it leads to improved trade balance
RBA’s Lowe wants more market appetite for ‘real investments’
Deputy governor says key to returning growth and monetary policy to normality is persuading investors to create new assets rather than pumping up the prices of existing ones
West African countries take stock of ‘capacity building project’
The West African Monetary Institute is hiring an external consultant to review the $2 million project, as it works towards establishing second monetary union in region
IMF paper examines causes of financial market spillovers
Research finds financial market spillovers are affected by ‘bilateral portfolio asset holdings, as well as a country’s geographical preferences’
Fed paper models impact of return to normal rates
Discussion paper studies the likely effect of returning interest rates to more normal levels; finds different combinations of tools would have different effects on financial intermediation
Bank of England resumes settlement after 'technical issue’
UK’s high-value payment system was ‘paused’ for several hours today, but is now back up and running; central bank extends opening hours to deal with backlog
Philippines central bank raises minimum capital requirements
The Central Bank of the Philippines has raised banks’ minimum capital level while unveiling new credit risk management rules that limit the collateral value of real estate mortgages
French paper examines impact of ECB policy changes on asset prices
Working paper considers how ‘policy shocks’ affected short-term interest rates, as well as the expected future path of short-term interest rates, between 2002 and 2013
Andrew Sheng says international monetary system is fundamentally flawed
Former chairman of Securities and Futures Commission says the world is breaking up into national currency blocks, and the revival of ‘Cold War 2.0’ makes it difficult to fix
BoE’s Bailey slams European bonus caps
Deputy governor expresses ‘dismay’ at debate that misses what he sees as key points in designing appropriate incentives; points to flaws in Basel capital standards
SBP launches shariah-compliant open market operations
Islamic banks in Pakistan will now have access to central bank liquidity operations; survey reveals strong demand for Islamic finance in the country, but coverage remains patchy
Yellen ‘greatly’ concerned by inequality in US
Fed chair takes unusual step of addressing inequality in her speech at a Boston Fed conference; explores four ‘building blocks’ of economic opportunity
European Commission approves central bank’s BES intervention
Bankruptcy would have led to losses up to €28 billion; European Commission says central bank decision is ‘compatible with the internal market for reasons of financial stability’
Mersch: Asset buying may widen income inequality
Non-standard measures ‘shouldn’t last too long’, according to ECB executive board member Yves Mersch, because they could ‘widen income inequality’
Poloz recommends dropping forward guidance as conditions normalise
Bank of Canada governor suggests there are better ways of communicating when conditions normalise; most respondents to CentralBanking.com poll agree
BoE’s Haldane sees UK economy ‘writhing in both agony and ecstasy’
Chief economist sees reasons to be both optimistic and pessimistic about the UK economy, but says on balance rates are likely to have to stay lower for longer than expected
CPMI-Iosco report recommends tools for recovering FMIs
Report lays out toolkit for maintaining critical services and restoring stability in the event a financial market infrastructure comes close to collapse
Bank of Russia to offer $50 billion through new FX repos
Russian central bank unveils new measures to boost short-term foreign exchange liquidity in markets, and will offer $50 billion between now and the end of 2016
Danièle Nouy: Fed facing similar data challenges as ECB
The supervisory board chair delivers concluding remarks to the ECB conference on statistics; notes similarities between approach of Fed and European authorities to data problems