Central Banks
Paul Collier on central bank leadership, flawed policy and SWFs in Africa
More African central banks are moving towards inflation targeting, but Paul Collier tells Tom Bowker they should not mindlessly follow Western policy and may need to live with volatile inflation.
Maldives Monetary Authority denies knowledge of terrorist funding
MMA rejects statement in US department of state report that the central bank is aware of funds being raised on the islands to support terrorism abroad
Sanusi: untainted by oil
Sanusi Lamido Sanusi’s aggressive reform agenda and efforts to defy powerful vested interests in Nigeria have secured a positive legacy despite bringing politics to the central bank.
Amando Tetangco on central bank policy, fund flows and financial inclusion
Central Bank of the Philippines governor tells Christopher Jeffery the country is well prepared for policy changes at major central banks and calls for more research on role of financial inclusion
The international monetary ‘anti-system’
A network of systemic risk boards might improve stability in the absence of a viable international financial system, writes Jacques de Larosière.
Paul Volcker on inflation, QE exit and monetary system flaws
Paul Volcker speaks with Robert Pringle about his experiences in defeating inflation, responses to the current financial crisis, QE exit and flawed discipline in the international monetary system.
A new wave for polymer banknotes
Does the Bank of England’s move to introduce substrate banknotes represent a ‘tipping point’ for polymer currency? By Tristan Carlyle.
Finance and the Holy See: creating a central bank
The Vatican is setting up a ‘central bank’ as part of an overhaul of its finances. Isabella Bufacchi and Carlo Marroni examine the options available to the the Holy See.
ECB's Mario Draghi faces ongoing German ‘angst’
ECB president to face further German resistance on interest rates, banking union and OMTs – with Germany’s constitutional court ruling likely more problematic than some observers believe.
Central bank support for CCPs and TRs
The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.
The case for hedging reserves portfolios with futures contracts
Central banks may still be able to hedge their bond and money market portfolios against rises in interest rates. Elisa Vilorio makes a case for using interest rate futures.
FSB issues peer review on ‘uneven' progress to end credit ratings reliance
Basel-based Financial Stability Board says its members must not replace mechanistic reliance on credit rating agencies with an equally narrow substitute
Kohn compares UK and US macro-prudential experience
The former Fed vice-chair and member of the BoE's financial policy committee says any arrangement needs central bank in 'major role'
Constâncio calls for centralised deposit insurance scheme
European Central Bank’s Vítor Constâncio welcomes legislators deal on deposit guarantees but insists they are ‘only a little part’ of what is necessary
BoE's new international head among senior appointments expected this month
The Bank of England has three weeks to fill seven senior positions as part of a structural overhaul that goes live on June 1
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
New York Fed launches ‘more engaging’ website
The Federal Reserve Bank of New York leads a host of central banks overhauling their websites; redesign features new emphasis on social media
Turkey’s pursuit of output-based models
The Central Bank of Turkey has shifted from using input-based approaches to output-oriented models for budgeting purposes in a bid to optimise its use of public resources. By Eyup Kahveci.
Book notes: The Map and the Territory: Risk, Human Nature and the Future of Forecasting
The Map and the Territory is an enigmatic title for a book written by a former chairman of the Federal Reserve, Alan Greenspan.