Central Banks
EMEs can resist spillovers with prudential policy – BoE paper
Some prudential policies work better than others, researchers find
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Māori business principles support stability, says RBNZ’s Orr
Collectively-owned businesses are more stable, but many struggle to access capital, governor says
Seven threats from big tech’s libra
Can central banks avoid a ‘big tech’ monetary meltdown?
Eurozone should re-think stress tests, Enria says
Top ECB supervisor suggests splitting tests to make them simpler and less costly
Researchers use option prices to gauge ZLB risk – San Fran Fed
Chance of rates hitting zero lower bound by the end of next year is 16%, researchers find
ECB’s OMT and banking union rekindled financial integration – research
Subprime mortgage crisis interrupted progressively higher integration from 1995–2007
UK watchdog unveils curbs on illiquid funds
Some open-ended funds will now have to make contingencies for stressed market conditions
RBI weighs reforms to liquidity framework
Report recommends retaining the corridor system and simplifying operations
Riksbank may publish several overnight rates from 2020
As in other jurisdictions, new rate would be based on reported transactions from counterparties
Financial plumbing might be ‘rusty or clogged’ – Philadelphia Fed president
Patrick Harker calls for review of the US’s money market plumbing
Kenyan high court dismisses challenge to new banknote series
Central bank had been accused of violating constitution with banknote designs
Italian government nominates Panetta to senior ECB role
Nominee is trained economist with over 30 years’ service at the Bank of Italy
IMF warns Ukraine to protect central bank independence
Governor calls for end to pressure on reformers as court reinstates senior official
Demand wanes for NY Fed repo operations
Term repo was undersubscribed today and overnight repo saw lower demand
Bank of Mexico makes further rate cut
In August, the central bank made it first rate cut for five years
BIS launches green bond fund for central banks
Institution aims to use fund’s clout to influence development of green investment standards
Fed has a risk management problem – Richmond Fed president
“The economy is giving us conflicting signals,” Tom Barkin says
Book notes: Economics for the common good, by Jean Tirole
The book should be well received amid the recent rise in populism
Lautenschläger resigns early from ECB governing council
News fuels speculation over German opposition to looser monetary policy
Kansas Fed’s George defends proposed instant payments system
Former FDIC head Bair warns current payment systems could fail “catastrophically”