Central Banks
Oman and Bahrain central banks outline plans for Eid
Preparations underway for banking sector shutdown and cash demand surge during religious celebrations; both Central Bank of Bahrain and Central Bank of Oman will shut
Central Bank of Brazil celebrates Olympics handover with new coins
Two commemorative coins released this month in honour of the arrival of the Olympic flag in Brazil; images symbolising London and Rio de Janeiro feature in the designs
IMF paper evaluates reserve adequacy in emerging markets
Working paper studies the determinants of reserve holdings in emerging markets and small islands; proposes measure of reserve adequacy
Malaysian growth rate exceeds target
Report published by Bank Negara Malaysia on economic developments in second quarter shows increase in growth beyond level forecast in annual report; central bank expects trend to continue
Central banks make “record” gold purchases in Q2
World Gold Council says central banks bought 254.2 tonnes of gold in the first half of 2012; Kazakhstan, the Philippines, Ukraine and Guatemala among the countries that added to reserves
Bank of Israel paper says Europe is sub-optimal currency area
Research examines political problems with economic and monetary union in Europe; says Europe is a “dubious candidate” for an optimal currency area
Central Bank of Barbados notes strong but static banking sector
Financial stability update shows domestic banking system has sufficient capital to withstand significant losses; says overall credit to private sector remained flat in past year
ECB paper investigates policy effect on bank risk-taking
Working paper finds both positive and negative impact of monetary policy on bank risk-taking; suggests this makes it impossible for regulators to design optimal capital requirements
FSB launches peer review of resolution regimes
Questionnaire sent out by Financial Stability Board aims to provide comparative analysis of members’ resolution regimes to identify gaps and evaluate progress
National Bank of Hungary paper highlights cash supply efficiency methods
Occasional paper from Hungarian central bank recommends ways of improving cash supply system; looks to exploit public and private business networks
NBS management weakens as fourth council member quits
Kosta Josifidis resigns from the National Bank of Serbia’s Council of the Governor leaving just one member remaining; doubts continue over central bank’s future as politicisation fears mount
CLS hires JP Morgan veteran as chief executive
David Puth, the former chair of the New York Fed's FX Committee, will become the next chief executive of CLS next week
CNB paper shows power of inflation targeting
Czech National Bank working paper shows inflation targeting can lead central banks to offset government spending shocks; can also have disciplinary effect on fiscal policy
Central Bank of Colombia minutes reveal divide over interest rates
Minutes from the central bank board’s July meeting gives details of reasons for members’ difference of opinion over interest rate decision; board committed to maximising employment
Ireland releases coins in memory of former finance minister
Central Bank of Ireland issues two coins commemorating 90th anniversary of Michael Collins’ death; chief operations officer speaks of 'overwhelming' interest in the collector items
BoE minutes show MPC left out rate cut discussion
Possibility of cutting benchmark interest rate was not discussed at latest MPC meeting; policy-makers decided to keep rate and quantitative easing steady
IMF working paper warns of dangers in sovereign debt restructuring
Researchers find debt restructurings have adverse impact on economic growth; say debt sustainability is a crucial consideration
Cleveland Fed researchers suggest moderate growth may persist
‘Economic Trends’ research highlights possibility of a slowdown in US trend rate of growth; economy shows modest version of previous recoveries
RBI deputy governor warns of moral hazard in debt restructuring
Kamalesh Chandra Chakrabarty says number of bank accounts being restructured has grown at a disproportionate rate since 2009; suggests actions to address problem
BoJ minutes reveal cautious positivity about global risks
Minutes of Bank of Japan’s July monetary policy meeting shows some optimism over global risks; members vote unanimously to hold rates and adjust asset purchases
Central Bank of Tunisia report explores impact of revolution
Annual report for 2011 reveals a sharp drop in production and exports post-revolution; economic growth fell to -1.8%, says central bank