Central Banks
Retail fund exposures make EMs more sensitive to shocks, IMF says
IMF report examines make-up of emerging market bond and equity investors to find what lies behind increased susceptibility to global volatility
International policy co-ordination is a 'fair weather' phenomenon, says Carstens
Bank of Mexico's Augustin Carstens says 'massive inflows' were driven by carry trade; argues macro-prudential measures 'no substitute' for strong fundamentals
ECB’s Cœuré warns CCPs could become ‘too big to fail’
Benoît Cœuré says the systemic effects of central clearing are ‘undoubtedly positive’ on aggregate, but raises concerns over the concentration of risk in a few large global CCPs
Philippines central bank backs 'vital’ reforms
Central Bank of the Philippines welcomes plans for $3.3 billion recapitalisation and new mandate; looks set to receive new supervisory powers and monetary policy instruments
National Bank of Ukraine heads for IT regime following clear-out of senior staff
Ukraine central bank will institute an inflation-targeting regime, after the former governor was dismissed along with his deputy and two departmental directors
State Bank of Pakistan has 'critically low' reserves
IMF says Pakistan’s reserves position will remain critical even with ‘stellar’ programme adherence; urges changes to central bank law to boost independence
Dudley calls for global insurance mechanism to smooth taper tantrums
Dudley sides with Bullard over global monetary policy co-ordination - but says more work should be done to devise an insurance system against international capital flow volatility
Central Bank of Brazil hikes inflation forecast for 2014
Report released yesterday revises up inflation rate for 2014 by 50 basis points to 6.1%, 1.6 percentage points above target
Seychelles central bank moves towards inflation targeting
Central bank unveils strategic plan, aiming to put a lid on inflation and reinforce monetary policy transmission with a stronger macro-prudential toolkit
US regulation of foreign banks follows 'pattern set by the EU', says Fed's Tarullo
Basel rules are ‘floors, not ceilings', the Federal Reserve's Daniel Tarullo said yesterday, following accusations that the US is treating foreign banks unfairly
ECB paper finds US resolution authority has not solved too-big-to-fail problem
Research uses creation of US Orderly Liquidation Authority as ‘quasi-natural experiment’, finding many banks are disciplined but the largest still do not believe the threat to be credible
SNB board member speaks on ‘very limited' ethical investment programme
A desire not to move markets informs the SNB's decision not to provide details on its new ethical investment strategy, which will affect a 'very limited' number of companies
People: Central Bank of Ireland gets new top supervisor; MAS reshuffles management team
Sharon Donnery new director of credit institutions at Central Bank of Ireland; MAS's Foo-Yap Siew Hong retires after 39 years; and more
BoE's Financial Policy Committee notes 40% rise in mortgage approvals
Mortgage approvals rose by 40% in the year to January; FPC makes no new recommendations
Fed rejects Citi's dividend plans
The Federal Reserve has rejected the capital plans of five systemically important banks following annual stress tests; Bank of America and Goldman Sachs squeeze through
RBI director criticises ‘poor’ cooperative governance
Deepali Pant Joshi attributes cooperative banks' deteriorating health to poor governance and operational inefficiencies
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
Riksbank told to stop ‘leaning against the wind' by national forecaster
Sweden's National Institute for Economic Research sees ‘no reason for monetary policy to be influenced by household debt' in a rebuke of Riksbank policy
New Zealand champions coordination of monetary and macro-prudential policy
Reserve Bank of New Zealand deputy governor says there is an ‘appropriate role’ for coordination if both policy arms retain ‘clear primary objectives’