Financial Stability
HKMA’s Pang warns of hot pockets in emerging Asia
Hong Kong Monetary Authority deputy chief executive Peter Pang highlights policymakers’ concerns of growing capital inflows in emerging markets
Bulgaria ordered capital hikes, report released
Bulgarian National Bank publishes 2010 Annual Report; asked three banks to increase capital
IMF urges emerging markets to tighten monetary policy
IMF Regional Economic Outlook for Asia report says emerging market central banks must tighten monetary policy to stave off inflation; acknowledges limitations of monetary tools
Central banks continue to purchase gold
World Gold Council releases first Gold Investment Digest of 2011; shows central banks are still net buyers of gold in Q1
Finland’s central bank unveils first volume of official history
Bank of Finland publishes first of two-part history; describes how governor fought to stabilise national economy during the Great Depression
IMF paper builds US, euro area financial conditions indexes
Fund paper creates financial conditions indexes to forecast economic activity in the US and euro area
West African central bank reopens offices in Ivory Coast: reports
West Africa’s regional central bank resumes operations in Ivory Coast
ECB – Euro Area Bank Lending Survey (April 2011)
European Central Bank April 2011 euro area bank lending survey reports moderate tightening of credit conditions in region
Hong Kong plans to regulate credit-rating agencies
Hong Kong announces it will begin regulating credit-rating agencies from June; agencies and analysts must apply for licences
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
National Bank of Belgium – Consumer Survey (April 2011)
National Bank of Belgium April 2011 Consumer Survey shows pick-up in consumer confidence in April
Financial cycles have strong economic implications: IMF paper
Fund study examines whether the close correlation between business and financial cycles is synchronised or coincidental
Bank of England – Trends in Lending (April 2011)
Bank of England’s Trends in Lending April 2011 report finds evidence of a contraction in UK bank lending
Role of Fannie, Freddie failure in crisis has been underplayed: ex-Fed’s Warsh
Recently departed governor Kevin Warsh tells Central Banking that decision to take government-sponsored enterprises into state ownership had significant ramifications
Greece’s Provopoulos urges step up in public reforms
Bank of Greece governor George Provopoulos calls for government to boost Greek reform policies
Overdraft surveys reduce balances in the red: Philly Fed paper
Philadelphia Federal Reserve study examines impact of overdraft surveys on bank balances
BoE stability committee sets June date for first meet
Bank of England’s Financial Policy Committee to meet in mid-June; governor to hold press conference
Lithuania’s new governor outlines challenges ahead
Well-balanced, sustainable growth the priority, Vitas Vasiliauskas, new governor of the Bank of Lithuania, tells CentralBanking.com; plays down meeting Maastricht criteria
Austria’s Ittner calls on domestic banks to raise capital buffers
National Bank of Austria executive director Andreas Ittner says country’s largest banks will need to raise their Tier I capital ratio to meet foreign competition
Singapore challenges Hong Kong over global yuan hub status
Singapore agrees to open Chinese bank to clear yuan trades; Hong Kong’s plans to become centre for offshore yuan trade at risk
RBI’s Subbarao: IMF capital control proposals lack flexibility
Reserve Bank of India governor Duvvuri Subbarao says IMF proposals on capital controls leaves little room for policymakers to exercise discretion
Algeria’s Laksaci warns against advanced economy risks
Bank of Algeria governor Mohammed Laksaci says sluggish growth in advanced economies is creating uncertainty over global recovery
Lehman crisis could have been averted with Dodd-Frank: FDIC
Federal Deposit Insurance Corporation report says orderly resolution powers in Dodd-Frank Act could have allowed for orderly wind-down of failed investment bank Lehman Brothers
Officials gather in DC for IMF/World Bank spring meet
IMF/World Bank spring meetings address global economy and financial stability, governance progress and Japanese disaster