Central Banks
BoJ’s Nishimura sees potential for $180 billion funding for lending
Under Bank of Japan’s ‘stimulating bank lending facility’, banks could receive up to 15 trillion yen ($180 billion) in low-cost funding, says deputy governor
RBA revamps clearing and settlement to meet FMI standards
Reserve Bank of Australia releases final rules for clearing and settlement to bring them up to date with new FMI standards
Irish central bank to hold first meetings outside Dublin
Central bank of Ireland to hold series of events in Galway, including first ever formal meeting of the governing board outside Dublin; further events planned for the future
Bank of Greece upbeat on recovery prospects
Interim 2012 report on monetary policy says ‘tangible’ progress has been made in key sectors, but commentators warn optimism may be unfounded
Norges Bank to launch new banknote series
Norway’s central bank to release new banknote series to stay abreast of neighbours and keep counterfeiters at bay
CGFS report sets out framework for macro-prudential policy
Basel-based Committee on the Global Financial System (CGFS) report guides central banks on how macro-prudential instruments should be chosen, combined and employed
RBA cuts rates to three-year low
Reserve Bank of Australia lowers rates despite growth near to trend and inflation likely to overshoot target in short run; dollar strengthens against greenback
Stress test transparency can ‘persuade’ investors, says Bundesbank paper
Deutsche Bundesbank study says the disclosure of stress testing results and methodology can be designed to alter investor behaviour
Malawi minutes explain rate rise
Interest rate increased by 400 basis points as inflation hits 30.6% and the Malawian currency depreciates ‘faster than expected’
Bank of Uganda annual report emphasises adaptation to tough times
Annual report for 2011/12 suggests move to ‘inflation targeting lite’ framework helped bring a spike in inflation under control
MAS chairman says Islamic finance can exploit post-crisis landscape
Tharman Shanmugaratnam suggests weakness and deleveraging in conventional banking systems gives Islamic finance an opportunity to expand
Taming the finance monster
The best way to resolve global financial instability is for the owners of capital to assert themselves, with sovereign funds well positioned to take the lead, say Paul Woolley and Dimitri Vayanos
BoE paper considers implications of HFT
Bank of England study says high-frequency trading is informationally efficient but can also create excess volatility
Shirakawa defends role of market prices in policy-making
BoJ governor says price movements in financial markets were mishandled before the crisis, but they do reflect the wider economy and can be useful to central banks
Fed’s Stein highlights benefits of mortgage-backed QE
Jeremy Stein says purchasing mortgage-backed securities provides a greater "kick" for corporate investment than Treasury securities
Arab Spring countries boast higher credit limits, says Finnish paper
Bank of Finland research shows Middle Eastern and North African countries that experienced uprisings lend more to small businesses
Bank of Albania – Annual Report (2011)
Bank of Albania 2011 Annual Report highlights a growing economy and inflation kept in check at 3.5%
ECB’s Cœuré champions accountability in Europe
Executive board member wants clear ‘network of responsibilities’ and advocates creation of a euro area treasury
FDIC name new leadership
President Obama names acting-chairman Martin Gruenberg as the new FDIC head and ex-Kansas City Fed president Thomas Hoenig as his number two
SWFs should take lead in demanding higher investing standards
Large long-term investors such as sovereign wealth funds should be spearheading efforts to hold investors to account over short-termism, according to finance experts at the LSE
Sarb’s Mminele highlights risks to emerging markets from QE
Daniel Mminele says unconventional monetary policy has complicated policy-making for emerging market central banks
Euro periphery financial systems still ‘fragile’, reports show
Irish and Portuguese financial stability reports show financial systems have grown stronger in past year, but weaknesses persist
Norway’s SWF eyes shift from European equities
Fund will maintain high equity share but diversify investments away from Europe; buys $1.1 billion of Swiss real estate from Credit Suisse