Central Banks
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.
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
HSBC chair expresses concern over new rules on global Sifis
HSBC chair Douglas Flint says additional loss absorbency for global systematically important financial institutions should apply to greater number of firms
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance
HKMA - Monetary and Financial Stability Report (March 2011)
Hong Kong Monetary Authority March 2011 Monetary and Financial Stability Report calls for stringent bank underwriting standards to ease property bubble
RBI’s Gokarn on financial inclusion strategies
Reserve Bank of India deputy governor Subir Gokarn says banks should consider inclusion-oriented products and services as part of strategy
Chile’s De Gregorio denies currency war claims
Central Bank of Chile governor José De Gregorio dismisses speculation of a currency war between advanced and emerging countries
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
When the price is wrong
Determining how best to step in when markets struggle to price assets fairly remains a key unanswered question from the crisis
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Geopolitical factors won’t stop ECB rate hike, say analysts
Analysts expect the European Central Bank to raise interest rates at the upcoming monetary policy meeting, despite fears events in Japan and the Middle East may offset the global recovery
Zambia’s Fundanga on effects of illegal cross-border trade on monetary policy
Bank of Zambia governor Caleb Fundanga says small-scale cross-border trade could interrupt monetary policymaking
Atlanta Fed paper on evolution of US mobile payments
Atlanta Federal Reserve study says unique set of rules necessary for mobile payments industry to evolve in United States
Central Bank of Colombia paper on too-connected-to-fail
Central Bank of Colombia study calls for too-connected-to-fail rather than traditional too-big-to-fail approach