Central Banks
ECB article explains Eurosystem financial reporting
Monthly bulletin offers overview of Eurosystem’s financial reporting and accounting; says public interest in financial statements is growing
MAS deputy highlights challenges of structural change
Ong Chong Tee lists core issues and challenges related to structural changes in the Singapore economy after the financial crisis
Philadelphia Fed reports slowing manufacturing growth
Federal Reserve Bank of Philadelphia releases May 2012 Business Outlook Survey; finds slower manufacturing growth
State Bank of Pakistan decides to implement IBAN
Pakistan to see International Bank Account Number system fully in place by June 2013; central bank hopes change will make payments more efficient in the country
Brazil to reveal rate-setters'votes
Central bank board approves amendments to law governing the institution aimed at increasing transparency; quarterly inflation report also to begin being published
Cheques secure place in Australian payments system
Australian Payments Clearing Association finds no reason to consider closing the cheque clearing system in Australia
Malaysia and Turkey sign memorandum of understanding
Central banks agree to work to “foster strategic co-operation” between the two countries; want to promote bilateral investment and liquidity arrangements
Gold demand drops from high 2011 figures
Gold Demand Trends report from World Gold Council notes 5% lower demand in Q1 this year compared with 2011
BoJ’s Shirai debates how to strengthen growth momentum
Member of Bank of Japan policy board says the country should improve economic relations with emerging Asia in terms of trade and tourism and also through cross-border financial transactions
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
Bank of Russia reports solid financial stability in 2011
Financial Stability Review paints good picture of Russian economy in 2011; details steps taken to ensure continued stability
IMF paper analyses situation in Togo
Researchers evaluate public investment surges, growth and debt sustainability in Togo; find very large increase in public investment would have positive macroeconomic effects in the long-run
Sveriges Riksbank’s Stefan Ingves on banking crises and regulation
Stefan Ingves talks to Christopher Jeffery about the benefits of national regulation, the need for swift action in dealing with troubled banks and why he is against a Tobin tax in Europe
Designing a new global financial architecture
Developing a financial architecture for the future requires substantial thought about international capital flows and the role of institutional investors. By Bernd Braasch
Robert Shiller on central banks and their role in a good society
Through co-ordinated action central banks have played a vital role in avoiding financial armageddon. But Robert Shiller tells Christopher Jeffery that more joined-up thinking is required
System risk lessons from FX loans in Central and Eastern Europe
The build-up of forex loans in the CEE presented a systemic challenge to the region's financial stability. Piotr J Szpunar argues this points to a need for macro-prudential rules in Europe
Germany’s political elite treads tightrope of public opinion on euro
Citizens of Europe’s most powerful economy have never had a real affection for the euro, making Germany’s role in resolving the continent’s debt crisis extremely tricky. By Norbert Walter
Berlin and the Bundesbank in spat over IMF
The Bundesbank has played a pivotal role in building Germany’s reputation as defender of monetary discipline at the IMF. But Berlin’s efforts to bail out Greece have damaged this reputation