Central Banks
Jwala Rambarran says housing policy needs ‘fundamentally rethinking’
Trinidad and Tobago governor concerned by ‘acute national housing shortage’ that is growing as house prices soar; launches latest publication in educational series
FDIC’s Hoenig blasts Basel III risk weights as insufficient
Thomas Hoenig argues that Basel III can be ‘gamed' and that the capital ratios may over-represent the actual state of banks’ balance sheets
RBA's Edey lauds Australia's financial regulation framework
Australian bodies for financial regulation 'served Australia well' during the crisis, though implementation is more important than structure, says assistant governor
Bank of Botswana delivers first rate cut since 2010
Botswana’s central bank cuts interest rate by 50bp to 9% to stimulate growth and employment despite continuing rise in inflation
Croatian paper develops financial conditions index
Study seeks to assess financial conditions in Croatia using data from domestic and foreign debt markets; relates findings to the real economy
Central Bank of Ireland annual report sees assets drop and profits rise
Recovery in Irish economy in 2012 led to lower reliance on US dollar liquidity and continued increase in central bank profits; governor urges continued commitment from external stakeholders
Carney launches ‘safer, cheaper, greener’ banknotes
New Canadian $5 and $10 polymer banknotes aim to cut counterfeiting, lower costs and reduce environmental impact; notes unveiled 350km above the earth by International Space Station commander
Weak eurozone data add weight to ECB rate cut talk
Expectations of a rate cut mount as unemployment and inflation figures disappoint, although many question whether lower interest rates would have a significant impact
BIS paper urges central banks to build their own financial buffers
Paper provides framework for central banks to assess the financial resources they should hold to protect themselves against losses; Jaime Caruana stresses importance of financial independence
Sri Lankan inflation drops one-third in two months
Central bank reveals inflation drop for second successive month; had earlier hinted at rate cut if slide continued
MAS fears supply-side hindrance to growth and inflation
Singapore’s macroeconomic review laments ‘tepid and volatile’ growth; central bank expects moderate economic recovery and steady inflation in 2013
BOFIT paper finds Turkish depositors prefer banks with political connections
Study analysing Turkish banks finds those with former members of parliament among their top executives are subject to 'less discipline' from depositors
BoE statistics indicate gradual lending improvement
Lending targeted by funding for lending scheme continues to creep towards positive figures; large gap between lending to individuals and to businesses
Czech central bank opposed to joining banking union
Vice-governor says Czech National Bank will recommend staying out of SSM; ECB's Asmussen calls on non-eurozone countries to decide by July
New Bank of Zambia powers help tackle tax avoidance
Amendment to Bank of Zambia Act bolsters central bank's ability to monitor flows of capital in and out of the country; economists suggest money could be ‘leaking out'
IMF issues warning to Asian central banks on risk of overheating
Regional Economic Outlook says some Asian central banks may need to tighten policy to avoid stability risks; examines complicated effects of Japanese monetary easing
People: Bank of Italy's Saccomanni becomes Italian finance minister; Kuroda replaced at ADB
Director-general at Italian central bank gets top government role; Takehiko Nakao moves from Japanese finance ministry to head Asian Development Bank
Bundesbank research proposes improved structure for counterparty credit risk
Discussion paper finds ‘quadri-partite’ structure gives best results for managing counterparty credit risk
Sri Lankan governor defends economy against stories of ‘economic doom and mismanagement’
Ajith Cabraal says local and foreign stakeholders are being misled over the true state of the Sri Lankan economy; central bank may cut rates if inflation continues to fall
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