Central Banks
Bank of Estonia – Annual Report 2008
Bank of Estonia’s Andres Lipstok notes the importance of euro adoption
Public-private partnerships affected by crisis
International Monetary Fund investigates the impact of the global financial crisis on public-private partnerships
Warsaw split on use of central bank profit
Poland’s politicians divided on whether central bank profits should cover budget deficit or currency risk
Central counterparties for CDS compared
Ad hoc industry group comprising both buy-side and sell-side publishes report on credit-default-swap central counterparties
Malaysia’s Zeti on international integration of Islamic finance
Bank Negara Malaysia’s Zeti Akhtar Aziz on factors important for sustaining the internationalisation of Islamic finance
UK inflation sinks below target
British price gauge falls below Bank of England’s target for first time in almost two years
MPC’s Posen queries symmetry of inflation targets
Newest member of Bank of England’s Monetary Policy Committee cites dangers in undershooting target and questions “mechanistic” monetarist view on quantitative easing
US racks up biggest ever June deficit
Gap for current financial year tops $1 trillion
Basel II enhancements released
Basel Committee on Banking Supervision announces revisions to supervisory framework and rules on trading-book capital
Forged euro notes surge by 17%
Counterfeit banknotes seized in first half of this year have face value of €19.3m
Ethiopia devalues birr
Value of Ethiopian currency falls 10% against the greenback
Economists petition lawmakers for Fed independence
Former Federal Reserve governor Frederic Mishkin among the signatories of online petition to keep monetary policy independent
Lender recourse increases the likelihood of default
Richmond Federal Reserve shows the impact of lender recourse on mortgage defaults
Estonian stability report gloomy
Bank of Estonia’s latest Financial Stability Report warns risk outlook has worsened
New Zealand issues risk guidelines for non-banks
Reserve Bank of New Zealand expands focus of risk-management rules beyond banks
Fed’s Greenlee: further stress testing needed
Federal Reserve’s Jon Greenlee says that many institutions would benefit from additional stress testing
A multi-tasking central bank responds better
Reserve Bank of India’s Usha Thorat says that its multiple objectives enhanced performance in the face of global crisis
Buba’s Fabritius questions Berlin’s commitment to Sepa
Bundesbank’s Hans Fabritius queries Berlin’s commitment to Single Euro Payments Area
PNG’s Kamit on how to reap benefits of microfinance
Bank of Papua New Guinea’s Wilson Kamit says that microfinance should go hand-in-hand with improvements to financial literacy
Labour productivity fosters booms
New York Federal Reserve shows labour productivity helps create bubbles
National Bank of Austria – Research Update newsletter
National Bank of Austria publishes latest Research Update newsletter