Central Banks
IMF paper identifies source of inflation in Cemac nations
Fund study says inflation in Central African Economic and Monetary Community countries largely driven by global food and fuel prices
ECB’s Constâncio highlights challenges in measuring contagion risk
European Central Bank vice-president Vítor Constâncio says difficulties in identifying contagion risks requires policymakers to be more vigilant of spillover risks
Liquidity risks raised crisis funding costs: Bank of Italy paper
Bank of Italy study shows heightened liquidity risk caused interbank market spreads to widen during the financial crisis
Israel completes appointments to new rate-setting body
Israeli government confirms appointment of three external members to Bank of Israel’s new Monetary Committee; rate-setting body due to vote in October
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
IMF modelling work on liquidity risk points to capital hike, says Jobst
Recent analysis by the International Monetary Fund indicates that banks in the US need to raise capital to cover systemic liquidity risk threats
Japan extends emergency relief measures
Emergency loan facility and relaxation of collateral eligibility standards extended; sign of Japan’s continued economic struggle
Oil reserves eclipse Norway SWF assets
Norway budget confirms sovereign wealth fund assets still smaller than oil left in seabed
ECB’s Constâncio favours single prudential rulebook for euro area
European Central Bank vice-president Vítor Constâncio says maximum harmonisation of prudential requirements will support financial integration and reduce costs
Mortgage securitisation fuelled housing bubble: Bank of Spain paper
Bank of Spain study says increased mortgage securitisation in Spain had strong impact on new borrowers' access to credit during recent housing boom
Sri Lanka releases customer protection charter for banks
Central Bank of Sri Lanka issues direction on customer protection in licensed banks; covers banks' commitments to customers and ways customers must also behave to ensure safe banking practices
Kenya’s Ndung’u calls for policies to stimulate competition
Central Bank of Kenya governor Njuguna Ndung’u says increased transparency and growth can be achieved through policies promoting competition and financial innovation
Riksbank narrows banknote design contest
Swedish central bank selects eight finalists out of 46 entrants to go on to final stage of krona banknote design competition; winner to be announced next April
ECB celebrates Italian culture
European central bank announces 2011 cultural days will focus on Italian culture; events include classical and jazz music concerts, film screenings, literary and art events
BoE injects £75 billion to save stalling economy
Bank of England Monetary Policy Committee votes for further round of quantitative easing; increases size of asset purchase programme to £275 billion
Trichet bows out with new bond purchase scheme
Jean-Claude Trichet unveils a new covered bond purchase scheme; ECB governing council also agree to hold interest rates and support Jörg Asmussen for governing council post
EU considers deeper sanctions against Syrian central bank
European Union considers further financial sanctions against Syria amid continued repression of Syrian people; EU foreign affairs committee to discuss on Monday
Latin America reverses positions with advanced economies: IMF’s Eyzaguirre
Director of the IMF’s Western Hemisphere department says advanced economies have 'pneumonia', while Latin America only has 'a cold'; situation reversed from in the past
Central banker takes over as Labuan Financial Services Authority director
Encik Ahmad Hizzad bin Baharuddin takes over as head of the Labuan FSA; leaves role as director of Bank Negara Malaysia's Islamic banking and takaful department
ECB paper identifies rate-setting heterogeneity among policymakers
European Central Bank study finds differences in interest rate voting patterns within three monetary policy-setting committees
IMF paper measures longevity of housing cycles
Fund study examines the dynamics of housing market cycles and the length of boom-and-bust periods
Dissenter votes to hike rates on inflationary fears: Iceland minutes
Central Bank of Iceland Monetary Policy Committee minutes says one member voted to increase interest rates despite uncertainty in global economy