Central Banks
Central bankers back equity investment for reserves
Almost two-thirds of respondents to CentralBanking.com poll believe central banks should invest some of their reserves in equities; most say investment should be kept below 10% of portfolio
Riksbank doves defeated on rate cuts despite broad support for easing, minutes show
Minutes reveal that despite unanimous support for ‘more expansionary’ monetary policy, majority of board members voted to hold rates due to household debt fears
Bangladesh Bank pioneers annual report on green banking
Report measures contribution of central bank and commercial banks to green finance; Bangladesh Bank refinances lending for ‘environmentally beneficial’ projects
BoE paper backs CCP discretion over optimal resource allocation
Researchers conclude that central counterparties should be given some leeway to set their own provisions against loss
SNB's Jordan slams gold referendum
Thomas Jordan says limiting Swiss National Bank's control over gold reserves would be ‘detrimental to Switzerland'; reveals location of holdings in face of public pressure
People: New governor for Central Bank of Venezuela; Bank of Lithuania gets new board member
Venezuelan president Nicolas Maduro has nominated Edmée Betancourt to take over at the top of the central bank; Norges Bank economist to return home for Bank of Lithuania board seat; and more
BoJ board more optimistic on inflation forecast
Updated forecasts by board members show expectations creeping closer to 2% target; lack of further monetary easing disappoints markets
Hong Kong consolidates dominance as offshore RMB hub
HKMA annual report shows continued rapid rise in renminbi trade flowing through Hong Kong; new Hibor fixing seen as latest manoeuvre to stay ahead of competition
FDIC's Hoenig calls for more action to correct incentives for financial companies
Speech to Asian bankers in Jakarta examines role of incentives in leading to the crisis, and hampering recovery
Winston Churchill to appear on Bank of England’s next new banknote
UK set to release new £5 banknote series in 2016 featuring portrait of former prime minister Winston Churchill; honours his parliamentary and literary work
IMF calls for unconventional measures to tackle eurozone fragmentation
David Lipton says ECB will probably have to use unconventional measures to overcome credit crunch in peripheral eurozone members
Hong Kong to launch offshore renminbi benchmark rates
Treasury Markets Association plans to introduce a range of offshore renminbi interbank rates, to ‘spearhead’ development of offshore renminbi markets
Korean economy defies won strength to return to growth
South Korean economy posts strongest quarter-on-quarter growth in two years; currency remains "moderately weaker than desirable", according to IMF
Ireland chases €1bn saving with payments overhaul
Central bank launches new initiative to curb high cash and cheque use and boost electronic payments; proposals include possibility of scrapping one and two cent coins
G-20 report says move from stabilisation to growth requires ‘difficult balancing act’
G-20 meeting report urges carefully calibrated fiscal tightening to ‘nurture’ recovery; backs accommodative monetary policy and says emerging markets should use rapid growth to build buffers
African growth could be ‘derailed’ by geopolitical tensions
South African Reserve Bank fears terrorism in continent’s key growth economies and heightened risk of social unrest could harm Africa’s growth prospects; also concerned by domestic unemployment
Polish paper examines banks’ risks when state safety net grows
Study finds that banks in central Europe take higher levels of risks under a larger deposit insurance scheme; less so in times of financial crisis
ECB annual report strikes hopeful note at end of rough year
Report highlights peak in financial market stress in mid-year, but says policy measures were effective in reducing this later in year; inflation above target and growth on downward slide
Omani central bank to join government drive for more SME lending
Omani authorities hope to increase jobs in the private sector by stimulating the flow of credit to small and medium-sized companies
ECB says ‘difficult to do more’ as pressure mounts for more action
Further deterioration in eurozone data leads some to predict ECB rate cut at May meeting and possible SME ‘support package’; ECB executives signal action still unlikely
ECB’s Cœuré says cashless society is neither likely nor desirable
Executive board member believes cash is too popular to phase out, but should be made more efficient; €5 note awareness campaign shows mixed results
Fed to release new $100 bill in October after three-year delay
New $100 bill with new security features is finally ready to enter circulation, after 'creasing' issues caused delays in 2011
Bank of Canada annual report highlights banknote success
New series of polymer banknotes introduced in 2012 as counterfeiting continues to fall; inflation kept shackled throughout year but falls below target in December
The Dutch are ‘poorly informed’ about country’s debt
Central bank survey finds that the Netherlands’ population underestimates the size of the country’s public debt, and wrongly attributes its creation to support for banks and other European governments