Articles by Daniel Hinge
Iceland offers pension funds relief from capital controls
Pension funds will have access to a limited amount of foreign currency in an effort to smooth the transition as controls are lifted
Iceland’s Guðmundsson plans post-capital controls monetary redesign
‘Inflation targeting plus plus’ would help the small, open economy to pursue independent monetary policy, insulated from violent capital flows, the Icelandic governor tells Central Banking
BoE turns attention to contagion from emerging markets
UK banks’ exposure to emerging markets is a cause for concern and will be integrated into 2015 stress test scenario, BoE says in financial stability report
Bank of England launches redesigned financial stability report
Central bank aims to convey a clearer picture of the risks facing the UK economy with a shorter, clearer and less repetitious financial stability report
BIS calls for new paradigm in economic policy
Annual report argues broken international monetary system and low productivity reflects failure to ‘come to grips’ with how financial and real economies interact, domestically and globally
ECB welcomes ‘smooth’ T2S launch
Culmination of seven-year process sees first four CSDs migrate to the new platform and settle the first transactions, despite fears over remaining bugs
Kyrgyz central bank partners with World Bank to deliver payments upgrade
The Kyrgyz Republic has seen rapid growth in card payments in recent years, which the central bank fears could create instability if the oversight and operation of payment systems is not improved
SEC chief sees potential in UK’s senior managers regime
Mary Jo White says she is ‘very interested’ in the UK's accountability regime, as part of a panel discussing the many pitfalls in changing bank culture; Martin Wheatley warns reform could take 10 years
Bank of Israel launches journalist briefings as part of transparency drive
Central bank begins quarterly briefings of journalists and adds new publications as part of ongoing efforts to improve communications; follows consultations with other central banks
BoE launches push to create global forex code that ‘has teeth’
Fair and Effective Markets Review recommends effort to establish global code of conduct as part of implementing UK regulation of fixed income, currency and commodity markets
China grapples with balance of financial reform and risk
The Chinese government is keen to encourage financial markets to catch up with manufacturing’s sophistication. But balancing liberalisation with stability and growth is proving complex
Economists expect last-minute Greek deal
With Greek finances still looking close to collapse, Central Banking asks a group of economists what the consequences of a last-minute agreement or default might be
Jeffrey Frankel argues for NGDP targeting by EMs
Monetary economist says targeting nominal GDP could allow emerging and developing countries to more credibly establish a nominal anchor
People: Fed names payments director; Denmark appoints assistant governors
Federal Reserve chooses Gordon Werkema to lead its new payments strategy; Denmark promotes director of administration and adds second assistant governor; and more
Book notes: Smart Money, by Andrew Palmer
An important attempt to show how financial innovation is “reshaping our world for the better” all the more important
Riksbank launches streamlined financial stability report
Shorter, more focused report aims to send clearer message to readers; follows close on the heels of a redesigned monetary policy report
BoE concerned by broken long-term investment incentives
FPC continues work on procyclicality and short-termism among pension funds and insurers, but participants at event in London suggest others may now need to pick up the baton
Collateral impact from eurozone QE still unclear, says Euroclear’s Evenepoel
Effect of new liquidity regulations and eurozone quantitative easing on collateral is still uncertain, but the market is ‘always creative’, according to Euroclear’s head of treasury
Historic BoE minutes shed light on troublesome money supply targets
Court minutes from the era of money supply targeting highlight the central bank’s struggle to control inflation amid unclear indicators and an occasionally fractious relationship with government
Eurozone moving towards ‘single market for collateral’, say central bankers
Panellists from Belgian, French and Dutch central banks discuss moves towards harmonised collateral markets in Europe at conference in Brussels
Repo market coping with liquidity regulations for now, panellists say
Participants at Euroclear’s Collateral Conference say repo markets have delivered new efficiency gains to keep collateral supply up, but the outlook over the coming year looks less certain
In search of a better measure of inflation
Hedonic adjustments offer a way of tackling bias in the CPI, albeit at a cost, but new research suggests even these may be misrepresenting inflation – with broad implications for the economy
BoE unearths new evidence on UK productivity puzzle
Latest inflation report includes new research suggesting temporary ‘compositional’ factors may be dragging on productivity growth; inflation path revised up slightly and growth down
Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies