Central Banks
SF Fed paper on sovereign debt crises
The Federal Reserve Bank of San Francisco Working Paper "Sovereign debt crises and credit to the private sector" argues that, through its effect on aggregate demand and country risk premia, sovereign debt restructuring can adversely affect the private…
BIS paper on risk and liquidity in system context
This BIS Working Paper explores the pricing of debt in a financial system where the assets that borrowers hold to meet their obligations include claims against other borrowers.
Fair value accounting for financial instruments
The BIS Working Paper "Fair value accounting for financial instruments: some implications for bank regulation" identifies issues that bank regulators need to consider if fair value accounting is used for determining bank regulatory capital and when…
Frederic Mishkin sworn in as Fed board member
Frederic S. Mishkin on Tuesday 5 September took the oath of office as a member of the Board of Governors of the Federal Reserve System.
Trichet says ECB's rate message is clear
European Central Bank President Jean-Claude Trichet said on Monday 4 September that his message on interest rates following last Thursday's policy meeting is clear.
Tanigaki says fiscal reforms must speed up
Japan cannot be slow in implementing fiscal reforms given its ageing population and rising global interest rates, Finance Minister Sadakazu Tanigaki said on Tuesday 5 September.
Norges Bank appoints communications director
Norges Bank announced on Friday 1 September that Siv Meisingseth has joined the central bank as Director of Corporate Communications.
Riksbank announces death of Jan Bergqvist
Jan Bergqvist, Chairman of the General Council of the Swedish central bank, has suddenly passed away at the age of 66, following a period of illness, the Riksbank said on Monday 4 September.
Bank capital, asset prices and monetary policy
In this Bank of England Working Paper the authors study a general equilibrium model in which informational frictions impede entrepreneurs' ability to borrow and banks' ability to intermediate funds.
ECB keeps rates steady
The European Central Bank left its benchmark interest rate unchanged at 3% as expected.
Brazil surprises with half-point cut
Brazil's central bank slashed its interest rates by a larger-than-expected 0.5% on Wednesday.
Duguay on Canada's response to global changes
Canada has responded well to a dramatic change in its terms of trade, according to Pierre Duguay, a deputy governor of the Bank of Canada.
Barbados central bank on Basel II progress
Banks in Barbados are moving ahead with implementing the Advanced IRB guidelines in Basel II for 2012.
New external debt statistics released
The BIS, IMF, OECD and the World Bank have released improved debt statistics.
Sweden raises rates
Sweden's central bank raised it benchmark interest rate by 0.25% in a move anticipated by the market.
Fed minutes indicate a "close call"
Minutes of the Federal Open Market Committee showed a 9-1 vote on 8 August in favour of keeping interest rates on hold.
Tunisia holds rates
Tunisian interest rates were unmoved after the monthly meeting of the central bank's executive board on Tuesday.
Iran unafraid of sanctions
Iran will be prepared for the economic consequences of UN sanctions, the governor of the country's central bank, Ebrahim Sheibani, said on Friday.
Hungary raises interest rates
The Hungarian central bank surprised markets with a half-point rate hike on Monday.
Interest rates round-up
A brief round-up of recent interest rate decisions in central banks in emerging markets.
BIS paper on business continuity
A new paper from the Bank of International Settlements sets outs business continuity principles for financial market participants and authorities.
NBER paper on optimal monetary policy
An NBER research paper on optimal monetary policy concludes that, in the presence of price stickiness, policymakers should focus their efforts actions towards low inflation volatility.
Thai central bank wins appeal against ex-governor
A recent decision by Thailand's Supreme Administrative Court clears the way for the central bank to press for damages against former governor, Rerngchai Marakanond.
Czech central bank holds rates
Thursday's meeting of the Czech National Bank's governing board ended with rates being held at 2.25%, a spokeswoman said.