Central Banks
Paraguay’s Valdovinos: bond issuance ‘not all about the money’
$500 million issuance was six-times oversubscribed, but the Paraguayan governor says its success lies in the message it sends to investors overseas
Ireland presents new financial consumer protection model
“More intrusive” model needed to counteract firms’ failure to change culture, bank says
Brazil can no longer rely on consumption for growth – paper
IMF paper highlights need for Brazil to switch to investment-led growth model as infrastructure caps threaten productivity and competitiveness
Basel Committee to retain provisioning treatment as IFRS 9 launches
Committee admits differences across countries are likely to remain in the interim, while it works to design a new approach to the regulatory treatment of expected credit losses
Spanish paper models effects of European ‘fiscal delegation’
Supranational fiscal authority would improve welfare, authors argue
Macedonia links up with EU payment infrastructure
Central bank announces local interbank payment system will connect with Target2 via the Bank of Italy; payments department manager says the development will enable smoother integration with the EU
Financial constraints fuel price mark-ups, Italian paper finds
Researchers use data on Italian economy in 2010 to 2013
People: Russia’s Elvira Nabiullina reappointed; SBV creates fintech group
Governor of the Bank of Russia handed a second term by Vladimir Putin; State Bank of Vietnam creates fintech committee; Haiti appoints fund director
Hungarian central bank sets out instant payments infrastructure plan
Company wholly owned by MNB to have system operational ‘by mid-2019’
Fed income drops in 2016
Central bank remits less to US Treasury as interest income declines and operating costs rise; passage of "Fast Act" changes remittance process
UK launches new £1 coin
New £1 is the “world’s most secure coin”, mint claims, integrating new security features previously used solely for banknotes; businesses have until October 2017 to recalibrate machines
Sterling shorts could see sharp unwinding on Brexit day
As the start of the negotiation process between the UK and EU approaches, an already weak sterling faces more tests
Fed authors construct ‘financial stability sentiment’ index
Index derives sentiment from central bank financial stability reports, finding a drop in sentiment tends to precede a “significant deterioration” of financial indicators
IMF working paper examines the impact of “de-cashing” on monetary policy
IMF working paper examines the impact of “de-cashing” on monetary policy, claiming transmission would become “easier” and “faster”
Bank of Ghana starts to unwind tight monetary policy
Central bank slashes interest rates to 23.5% in largest cut since 2010; inflation shows signs of improvement but certain risks still loom over prices
Iran central bank slams latest asset freeze ruling
Luxembourg court freezes $1.6 billion of central bank assets amid terrorism compensation case; legal battle may have implications for Iran’s nuclear deal
Bank of Russia cuts policy rate
Elvira Nabiullina says Russia on course to hit 4% inflation target by year end
Bank and capital market financing not created equal – BIS paper
Substituting bank loans for non-bank finance after a shock appears to have a negative impact on the economy, authors find
SNB annual report sheds light on equity investing strategy
Central bank details approach to investing around 20% of its foreign exchange reserves in equities, including diversification, activism and avoidance of political considerations
Bank of England launches first ‘exploratory’ stress test
BoE will assess banks’ longer-term resilience to periods of stagnation; cyclical test made tougher
BoE’s FPC sounds warning on implementation of global standards
FPC cautions on global co-operation around regulatory standards; follows plans for deregulation in the US and tit-for-tat threat from German regulators
Kenya’s Imperial Bank given 90-day lifeline
High court extends commercial bank’s receivership to allow shareholders and receiver to reach agreement; Kenya’s central bank takes first step toward removing licensing moratorium
Extended monetary easing in US has larger impact abroad – paper
IMF paper examines the impact of periods of prolonged monetary easing on risk-taking behaviour; leverage ratio and other measures of vulnerability increase
Croatian governor warns of further financial crises
It is probably time for central banks to “get out” of expanded balance sheets, Boris Vujčić says