Central Banks
Philly Fed’s Plosser calls for explicit inflation target
Philadelphia Federal Reserve president Charles Plosser says adoption of explicit inflation target will help Fed retain credibility during normalisation of policy
Fed reveals details on emergency funding recipients
Federal Reserve releases information on banks’ discount window activity during crisis; ends 28 month-long dispute with Bloomberg
Financial Stability Board publishes survey responses
Comprehensive survey answers reveal FSB member countries’ plans to conform with the G-20’s recommendations for strengthening financial stability
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
Japan suspends publication of financial stability report
Japan suspends publication of the March 2011 Financial System Report in light of the Tohoku earthquake
Australia, Finland and South Africa modernise web offerings
The central banks of Australia, Finland and South Africa all update their hi-tech offerings with new Twitter accounts, blogs and websites
Norway’s Olsen on regulatory overhaul of financial system
Norges Bank governor Øystein Olsen says regulatory overhaul of Norwegian financial markets will aid financial stability
IMF paper on growing threat of moral hazard
Fund study calls for further incentives and rules to stem threat posed by large systemically important financial institutions
Bank of England - Credit Conditions Survey (Q1 2011)
Bank of England 2011 Q1 Credit Conditions Survey reports little change in credit to households and firms
Ireland announces stress test results
Central Bank of Ireland reveals €24 billion gap in funding for the country’s banks
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Bullard calls for “last in, first out” approach to Fed exit strategy
St. Louis Federal Reserve president James Bullard says offloading assets from Fed's balance sheet before raising interest rates is his preferred exit strategy from accommodative monetary policy stance
Hoenig warns policy will mean "someone has to pay" in the future
Thomas Hoenig renews call for the unwinding of policies put in place during the financial crisis, urging the Fed to shrink holdings and raise rates to provide better long-term prospects for the US economy
Australia investigates options for updating payments system
Assistant governor of the Reserve Bank of Australia reveals insights into the review being conducted of the country’s payments system
BoE's Fisher considers zero corridor monetary operation
Bank of England executive director of markets Paul Fisher investigates alternative monetary operation frameworks
Forecasting under uncertainty: Bank's Weale
Bank of England external Monetary Policy Committee member Martin Weale examines difficulty of forecasting during uncertainty
IMF paper on debt dilution
Fund study says commitment to reduce debt levels can eliminate risk of debt dilution
IMF paper urges policymakers to address sovereign rating spillovers
Policymakers must account for risks posed by spillover effects of sovereign rating downgrades; contingency plan recommended to deal with possible instability
SNB counters IMF call for rate hike
IMF calls for Swiss National Bank to start raising interest rates; central bank fears rate hike could “dampen” export growth in Switzerland
Greenspan launches blistering attack on US financial regulations
Former chairman of the Fed claims the Dodd-Frank legislation does not meet “the test of our times”
MAS appoints Menon as new managing director
The Monetary Authority of Singapore (MAS) has named Ravi Menon as its new managing director. He replaces Heng Swee Keat who is leaving administrative service.