Central Banks
BoE paper studies ‘multiplex’ network model of derivatives market
Low liquidity buffers can lead to significant spillovers for some firms, authors warn
Argentina rescue advances as emerging markets suffer outflows
IMF backs Argentinian reform process as it prepares to supply emergency funding; emerging market central banks intervene to stem currency slide
Ghana’s Addison warns banks on price of not innovating
Emerging fintechs have the power to displace traditional banks, Ghanaian governor says, as new payment system goes live
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
People: Finland’s Rehn confirmed; Kalyalya gets extension
Olli Rehn gets top job at Finnish central bank; Denny Kalyalya handed additional five years as head of Bank of Zambia
EU Council aims to limit bail-in debt rules
Leaked BRRD text reveals Greek and Portuguese banks could escape subordinated debt regime
Don’t unwind financial regulation, says Fed’s Mester
Tighter regulatory measures have increased resiliency, Loretta Mester says
Riksbank looks for new banknote supplier as Crane Currency moves out
Swedish central bank surprised by Crane Currency’s transfer of operations to Malta
BNM may reopen probe into alleged massive fraud at 1MDB
Malaysian central bank may face questions over its role in investigating alleged crimes
Housing inequality creates credit inequality – NY Fed’s Hirtle
Older people with less need of credit have seen the value of their collateral rise more
Staff begin return to RBNZ HQ after asbestos scare
Central bank has been in “business continuity mode” but some staff have now returned
Brazil’s central bank holds rates for the first time in 13 meetings
Committee expresses concern over possible risks to inflation trajectory
Mester backs review of Fed’s inflation targeting framework
Cleveland Fed president says 2% target may not be suitable for low interest rate environment
South Korea will publish data on forex interventions
US Treasury report called recent South Korean forex moves “concerning”
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
US rates will rise less than in previous expansions – Fed’s Williams
Higher savings and lower productivity growth means “new normal” will continue, Williams says
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
Small depositors do not pose greater run risk – BIS paper
Authors say their findings imply financial inclusion need not create instability
US sanctions Iranian central bank governor
Valiollah Seif and another senior official accused of transferring funds to militant group
New Zealand governor accused of making partisan comments
As a fund CEO, Orr said he gave up funding earthquake rebuild; some interpreted his remark as an attack on the previous government