Articles by Central Banking Newsdesk
ECB voices fresh concern over Central Bank of Cyprus' independence
European Central Bank says draft law on the governance of the Central Bank of Cyprus contains a number of threats to its independence; follows earlier intervention by Mario Draghi
Navigating an exit from accommodative policy is ‘an art and not a science’
Participants at CEPR forum debate the challenges central banks must deal with when withdrawing unconventional policies; some express concern over rising asset prices
Ukraine caps cash use in bid to boost e-payments
National Bank of Ukraine hopes to deliver a wide range of benefits by imposing limits on the size of cash payments
Fed researchers find little QE impact on emerging market capital flows
Discussion paper finds Fed’s quantitative easing has not had a statistically significant impact on net capital flows to emerging markets, although behaviour changed post-crisis
Fed's Plosser calls for a move to simple, but higher, capital requirements
Philadelphia Fed president says there is no better example of over-complex rule writing than risk-weighted capital calculations - and calls for a shift to simpler rules which are harder to evade
ECB issues draft regulation on systemically important payment systems
Central bank seeks comment on draft regulations implementing CPSS-Iosco Principles for Financial Market Infrastructures, for systemically important payments systems in the eurozone
BoE chief cashier looks forward to further innovations in the use of cash
Chris Salmon, chief cashier and executive director for banking services at the Bank of England, says ‘local recycling' of cash in ATMs poses questions over authentication
Bundesbank research studies how weak resolution rules impact growth
Discussion paper employs ‘catharsis indicator’ to show that stronger resolution regimes reward good firms and help to allocate credit effectively, boosting growth
IMF paper explores link between low interest rates and bank risk-taking
Working paper finds banks take more risks in low short-term interest rate environment; more so if they are well capitalised
Subbarao criticises plans to expand powers of regulatory supergroup
Reserve Bank of India governor Duvvuri Subbarao speaks out against plans to give Financial Stability and Development Council responsibility for regulating systemic risk
Fed’s Raskin warns of shortcomings in leverage ratio
Sarah Bloom Raskin says a leverage ratio can guard against the failings of risk-weighted capital requirements, but cautions that the ratio has issues of its own
FDIC clarifies approach to use of credit ratings
Article in latest edition of FDIC’s Supervisory Insights sets out expectations regarding credit risk due diligence, explaining what role credit ratings should play in making investment decisions
RBA researchers test new BVAR-DSGE method on Australia
New modelling technique aims to overcome small, open economy issues in previous attempts to combine Bayesian VAR and DSGE methods
ECB keeps SME measures ‘on the shelves’ and holds rates alongside BoE
Draghi says further unconventional measures were discussed at today’s meeting of the governing council, but are being held in reserve; ECB joins Bank of England in taking no policy action
Lagarde says QE risks are real, but bubbles are not forming yet
IMF managing director says accommodative policy should remain in place in advanced economies, but clear articulation of an exit strategy will be needed to avoid a repeat of 1994's ‘brutal exit'
ECB taken to task over SME finance in Central Banking debate
Participants in latest Central Banking On Air debate accuse central banks of 'unreasonably neglecting' SME funding difficulties; question whether the type of assets central banks hold is important
IMF paper says direct eurozone spillovers limited to US and UK banks
Working paper analyses effects of eurozone crisis at bank level; finds direct impact limited to UK and US though other regions could be susceptible to knock-on effects
Financial exclusion in Europe driven by move away from cash, study finds
New report from Brussels-based pressure group finds financial exclusion is a growing phenomenon as cash falls out of favour for everyday transactions
Bank of England annual report redefines financial stability
BoE annual report reveals change in interpretation of financial stability; central bank must maintain ‘efficient flow of funds' in the economy and ‘confidence in financial intermediaries'
RBA research analyses factors driving US credit crunch
Working paper finds shutdown of the securitisation market explains a ‘significant share’ of the credit tightening in the US in the run-up to the global financial crisis
Draghi and Carstens step up at BIS as King retires
Mervyn King's retirement as governor of the Bank of England has created three chair positions on BIS committees that will be filled by the heads of the ECB and the Bank of Mexico
Price stability ‘pivotal’ in shaping exchange rate pressures
Bank of Finland discussion paper analyses pressure on exchange rates during financial crisis; says countries that experienced high inflation beforehand were hardest hit
Colombian paper draws policy lessons from credit- and business-cycle links
Researchers find lagged response of growth to the credit cycle, making it challenging for policy-makers to target both financial and real variables with a single instrument
Paper examines roster of RMB bilateral swap partners
BOFIT researchers find the list of countries signing a swap agreement with China is determined by a range of factors - and suggest the agreements are not used as a ‘soft power' political tool