Financial Stability
Netherlands Bank warns of Sepa information gap
Dutch central bank to launch communication campaign to aid consumers with limited knowledge about the European payments project
Counter-cyclical capital buffers rely on good central bank policy: BoC paper
Bank of Canada study finds central bank policy can strongly influence success of counter-cyclical capital measures
BIS paper examines sustainability of pension schemes
Bank for International Settlements study sheds light on effects of global economic downturn on the design of occupational pension schemes
RBI paper highlights shift in credit dynamics over business cycles
Reserve Bank of India study shows the behaviour of credit relative to growth in India changes over different phases of the business cycle
Lithuania overhauls banking supervision
New streamlined financial markets supervision body will save government $1.9 million a year; economist in charge of new Supervision Service
RBA paper quantifies risk of pricing distortions in markets
Reserve Bank of Australia study finds household and firm decisions are only marginally influenced by mispriced equity markets
Netherlands Bank paper discusses pricing policies in payments markets
Netherlands Bank study says policy on payments systems should be orientated towards improving competition rather than influencing price dynamics
Nigeria rolls out ‘cash-less’ Lagos project
Central Bank of Nigeria issues clarifications as cash-less society is introduced in Lagos; reassures public that cash transactions have not been eliminated altogether
ESRB urges swift implementation of emergency measures
European Systemic Risk Board sends strong message to European heads of state to fulfil terms of eurozone agreements; new appointments to board’s Advisory Scientific Committee
RBNZ vows to aid transition to new retail payments system
Reserve Bank of New Zealand to reduce cost of overnight borrowing for three months as banks shift to new settlement before interchange system
Malaysia launches new banknote series
Bank Negara Malaysia reveals designs and security features of five denominations in new currency series
Zeti reveals new strategy for financial system
Bank Negara Malaysia governor Zeti Akhtar Aziz says growth of financial sector in Malaysia will accelerate under new blueprint
Rise in terms of trade not always inflationary: RBA paper
Reserve Bank of Australia study says floating exchange rates act as an important buffer to external shocks that influence terms of trade
Capital controls are second-best policies: IMF paper
Fund study examines the new economics literature on prudential capital controls and finds the tools can help reduce financial instability
ECB receives strong demand for three-year liquidity
European Central Bank extends €489 billion in loans to banks in its first three-year liquidity operation. But analysts believe the measures will do little to ease funding pressures in the eurozone
Sepa migration deadline pencilled in for 2014
European Union says migration end-dates for credit transfers and direct debit to Single Euro Payments Area will be February 2014
IMF paper identifies weaknesses in Central America's supervisory practices
Fund study says there is considerable scope for Central American countries to enhance financial supervision and regulation
BIS paper warns of risks from long-term interest rate volatility
Bank for International Settlements study cautions against the use of long-term interest rates as a policy variable
Demand shocks strongly influence eurozone profit levels: ECB paper
European Central Bank study shows reaction to demand shocks explains variation in profit growth across countries in region
Interview: Harry Newman
Swift’s head of market initiatives for Europe, Middle East and Africa explains how its new RTGS back-up, the new Market Infrastructure Resiliency Service, will work
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Lagarde applauds Nigerian sovereign wealth fund creation
Christine Lagarde makes first visit to Africa since becoming managing director of the IMF; hails creation of Nigerian sovereign wealth fund as an “important advancement”
BoJ paper finds limited impact of tax benefits on corporate capital structure
Research finds default costs and the costs of outside equity have a larger effect on corporate capital structure than tax benefits
Anwar stresses rising importance of Islamic finance
Governor of the State Bank of Pakistan discusses developments in Islamic finance and calls for innovation to continue