Articles by Central Banking Newsdesk
Tyrie to scrutinise draft of UK’s Banking Reform bill
The UK’s Banking Reform Bill published today will undergo parliamentary scrutiny; Andrew Tyrie concerned important details are being left to secondary legislation
UK needs ‘innovative’ policy levers beyond price stability, says FSA’s Turner
Adair Turner blasts past regulatory failings and says UK must now turn to ‘innovative and unconventional’ policies; remains a leading contender for Bank of England governorship
Asmussen trumpets progress on European debt stabilisation
ECB board member Jörg Asmussen says eurozone’s progress on debt stabilisation is ahead of other developed economies, but more work needs to be done
‘Soft power’ is key to international success, says HKMA’s Chan
HKMA chief executive says soft power is central to improving international financial centres; institutions’ culture is integral in this
Italian paper evaluates stressed CDS pricing
Study by the Bank of Italy considers the performance of credit default swap pricing models under highly volatile conditions
IMF paper untangles liquidity indicators
A study by IMF staff finds price and quantity indicators can be used to separate the effects of supply and demand shocks on global liquidity; changes especially telling in a crisis
Ukraine issues US dollar bonds aimed at retail investors
Ukraine government is issuing US dollar-denominated bonds targeted at domestic retail investors, despite previous warning by central bank director about Ukrainians taking on forex risk
Central Bank of Malaysia raids ‘Ponzi’ scheme companies
Four gold-trading companies raided by central bank amid charges they were running illegal gold-trading schemes described as ‘Ponzi’ operations, according to the Malaysian central bank
Fed’s Tarullo says Dodd-Frank requires ‘extensive elaboration’
Daniel Tarullo highlights challenges in producing details of Dodd-Frank Act regulations; suggests limits to mergers by large banks and says SEC should strengthen money market fund regulation
Hungarian officials disagree over source of inflation
The Monetary Council of the National Bank of Hungary was divided over latest interest rate decision; could not agree on root cause of higher-than-expected inflation
BoJ deputy champions regional regulation
Kiyohiko Nishimura questions how to best spread a regulatory framework across the globe; says regional heterogeneity is an important consideration
Peru paper compares regional and national inflation
Central Bank of Peru study asks whether regional inflation is an accurate measure of the national situation; considers future of inflation-targeting in the country
Moderate economic expansion reported in Fed’s Beige Book
Survey of economic conditions in Fed districts finds moderate increase in economic activity; New York district bucking trend
Brazil second in world for non-cash payments
World Payments Report reveals Brazil is second only to the US for volume of non-cash payments; use of electronic and mobile payments shows ‘exponential growth’
Fed publishes final rules on stress testing
Stress-test scenarios for bank-holding companies and non-bank financial institutions to be set by Fed; questions raised regarding suitability of tests for determining remedial action
Albanian governor seeks regional integration
Ardian Fullani says the south-east of Europe is being held back by a lack of integration; proposes a number of areas where coordination could improve competitiveness
Banking industry needs to deliver wider services, says Pakistan deputy
Kazi Abdul Muktadir discusses future inclusion strategies in Pakistan’s banking industry, including banks being forced to open branches in rural and under-served areas if they want to expand
Finland paper investigates how to escape liquidity traps
Bank of Finland study examines whether stimulus or austerity is more effective at avoiding liquidity traps
IMF paper evaluates Latin American interest rates
Research published by the IMF examines if interest rates in Latin American countries are contributing to a stable inflation rate and economic growth
IMF says urgent action required in eurozone
Fund’s Global Financial Stability Report highlights progress with reforms in Europe but warns risks have increased since April; says eurozone policy-makers must act quickly to ensure stability
Polish paper says PPP model can predict short-term exchange rates
National Bank of Poland study finds real exchange rates can be forecast more accurately with the half-life PPP model, even in the short term
Iosco calls for tighter regulation of money market funds
Recommendations aimed at reducing systemic risk posed by money market funds; report published despite opposition from the US Securities and Exchange Commission
Bangladesh governor moves to stamp out imbalances
Atiur Rahman says the Bangladesh central bank will act firmly to prevent build-up of banking imbalances; tells bank CEOs to co-operate with new regulations
Bond market contagion permanently increased in Emu, says Czech paper
Czech National Bank research investigates increased contagion of sovereign bond markets in European Monetary Union; evaluates impact of rating agencies