Central Banks
New deputy governor for National Bank of Slovakia
Ján Tóth appointed as deputy governor to Slovakian central bank; previously a member of the country’s Ministry of Finance research arm
Banks suspend dual-currency deposits in Japan
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
High merchant fees may produce sub-optimum payments usage, says Fed paper
Federal Reserve Bank of Richmond working paper finds high merchant fees could be preventing payments markets from maximising consumer welfare
International reserves provided shelter from crisis, says Finland paper
Bank of Finland study says the accumulation of international reserves provided some countries with a buffer against the crisis; not such a clear-cut relationship with economic growth
National Bank of Denmark criticises independent economic report
Denmark’s central bank says Economic Council report on the Danish economy overestimates the economy’s growth potential
Basel proposal to capitalise settlement risk ‘unnecessary’
In comment letters published last week, banks have taken issue with Basel Committee guidance that would capitalise post-execution exposure to settlement risk
Zambia rate rise to suppress excess liquidity
Bank of Zambia monetary policy committee increases interest rate to combat a range of inflationary pressures
Mexican deputy targets productivity obstacles
Bank of Mexico’s Manuel Sánchez attributes low GDP per capita to ‘stagnant’ productivity; urges structural reform
IMF study analyses Asian monetary policy channels
Research published by the IMF examines monetary policy transmission mechanisms in Asia; questions whether interest rates are determined by global factors
Stockton review finds Bank of England’s forecasting ability wanting
A study commissioned by the Court of the Bank of England finds biases in forecasting and a lack of allowance for lateral thinking at the UK central bank
FSA’s Turner warns emerging markets not to repeat West’s mistakes
UK Financial Services Authority head warns public officials in emerging markets to beware bank lobby groups and their story of the limitless benefits of finance
BoJ expected to counter overseas monetary policy, minutes reveal
Bank of Japan minutes show senior Japanese government officials made demands of the Bank of Japan during its October policy meeting
Uganda cuts rates to 12.5% in bid to spur domestic economy
Bank of Uganda cuts benchmark rate to 12.5% in bid to boost domestic growth as inflation falls within medium-term target
IMF mission positive on Mozambique
International Monetary Fund inspectors cite significantly improved inflation levels and robust growth in GDP for latest favourable report on Mozambique
LCR drives expanding Asian liquidity swap market
Insurers are increasingly providing liquidity swaps to banks in what is viewed as a growing trend in Asia
FSB reveals G-Sib additional capital charges breakdown
FSB says four major banks to be hit by top 2.5% additional capital buffer as three banks leave and two are added to the list of global systemically important banks
Albania opens new currency centre
Bank of Albania has opened a new currency issue centre and mint as part of a wide-ranging property overhaul at the central bank
Norway paper finds emerging markets drive oil-price volatility
Norges Bank working paper finds that changes in emerging market demand for oil has more than doubled the impact on real oil prices and production compared with the developed world
Fed study shows US banks still wary of lending to European peers
US banks are continuing to tighten lending standards to their European counterparts with some winning additional business as a result of reduced competition from European banks, Fed study finds
ECB ends second covered bond programme
European Central Bank ends covered bond programme after buying €16.4 billion out of a planned €40 billion of the securities issued by euro-area banks; plans to hold purchases to maturity
BoE’s Bean sceptical of ‘helicopter money’; scotches calls to ‘cancel’ gilts
The Bank of England has received criticism for quantitative easing failing to normalise economic growth. But deputy governor Charlie Bean says some alternatives look even less attractive