Central Banks
Rising rates seen as main risk by reserve managers
High asset prices and the halting and withdrawal of bond-buying programmes pose challenges
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
People: Bank of Russia appoints new Moscow chief
Senior appointment at Bank of Russia; Uzbekistan picks new deputy; Bank of Japan gains new head of international affairs; Eiopa shuffles board
Chinese housing markets need to make ‘painful adjustment’ – IMF paper
Authors suggest governments set up body to ensure liquidity is available for housing market if prices fall suddenly
Irish deputy governor warns of Brexit risks
But Ed Sibley says “much of the heat has gone out of regulatory arbitrage issue”
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
Synchronisation of global house prices poses new risks – IMF
Macro-prudential housing policies may be affected by global movements, researchers say
ECB supports giving ESM independence
Reformed ESM should be used to provide “backstop” for bank resolution, ECB says
Riksbank should reduce balance sheet to avoid risks – Flodén
“Best way” of running down bond holdings is to hold bonds until maturity
Prudential curbs on lending are working – RBA report
Central bank says concerns over riskier forms of lending “have eased”
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
Book notes: The paradox of vulnerability, by John Campbell and John Hall
Quality of national institutions vital to handling financial crises, say authors
Former governor: Life lessons from Taiwan
Perng Fai-nan, former governor of the Central Bank of the Republic of China (Taiwan), shares key insights upon accepting Central Banking’s Lifetime achievement award
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
Fed proposes changing leverage ratios for largest US financial firms
Proposals would make leverage ratios “more closely tailored” to firm’s risk profile, Fed argues
FCA prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
BoE should not merge monetary policy and macro-pru - Broadbent
Merging key committees could undermine accountability, says deputy governor
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid