Central Banks
KYC initiative could help stem correspondent banking decline
South Pacific KYC utility will be based on digital identification databases; decisions on minimum data requirement yet to be made
Fed to wean banks off daily repos later this year
Total reserves may need to be higher than Fed initially judged as demand for repo operations remains strong
Inflation expectations risk continuing downward trend – John Williams
New York Fed president urges policy-makers to hold themselves accountable for below-target inflation
Slovenian central bank demands courts rule on bail-in law
Bank of Slovenia says law would break EU Treaty as bitter dispute over bail-ins escalates
People: Israeli governor nominates Andrew Abir as deputy governor
Former Sarb deputy governor appointed chief executive of Absa financial group; Colombian president picks new board member; Riksbank names new general counsel
Argentina reduces key rate floor again
New governor thinks ultra-tight financial conditions failed to tackle high inflation
Andorra seeks to join International Monetary Fund
Tiny principality would bring IMF members to a total of 190
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown, while oversight is “fragmented”, report warns
PBoC signs currency settlement agreement with Laos
Agreement comes as Chinese authorities push for increased international use of renminbi
SNB expects $50 billion profit in 2019
Rising gold prices and foreign currency assets boosted profits, Swiss National Bank says
Carney launches review of BoE monetary policy
“Deep structural changes” have left little space for conventional tools to work, governor says
Fed’s Brainard criticises other US regulators over lending proposals
Fed governor warns proposed reforms from FDIC and OCC could harm poorer areas
Riksbank minutes show disagreements over December rate hike
Dissenting board members cite looser international policy, weak growth and below-target inflation
Trump’s tax cuts boosted growth and jobs – Dallas Fed paper
Researcher uses state-level data on tax cuts to estimate national impact
Interview: Björn Segendorf
Riksbank senior adviser thinks it highly unlikely cash will disappear completely in Sweden, but says if it does, the central bank will continue to keep stocks of cash
Phillips curve still explains eurozone inflation movements – research
Results may become a focal point of debate in the forthcoming ECB strategy review
New York Fed launches longer-term liquidity fix
Markets desk tells overseas central banks that foreign repo pool rate will be revised
Ageing populations will keep interest rates low – BdF paper
Housing availability can attenuate decline in rates, authors find
Bank of Israel reserves rose 9.3% in 2019
Higher equity prices rewarded central bank’s decision to increase its exposure to stocks
EU central bankers urge UK to stay close on regulation
Klaas Knot and Luis de Guindos warn UK could lose out if it diverges from EU regulations, but Mark Carney says UK needs autonomy
NPLs and cyber risks threaten Eastern Caribbean MU – IMF
Steps towards banking union should be put on hold until short-term priorities are addressed, says fund