Central Banks
IMF praises BCEAO’s latest policy actions
Latest round of measures will result in stronger banking sector, mission chief says; rejuvenation of interbank market will help monetary policy effectiveness
New Australian $10 to feature works of native authors
RBA launches second banknote in new series, celebrating native authors; new note will feature similar security elements to new A$5 launched last year
Basel III has aided system stability, interbank models suggest
Model predicts future crashes will not be total wipeout
Fed’s Williams says labour market figures are accurate
Current unemployment rate “accurately” reflects the state of the labour market; San Francisco Fed researches a broader measure of the market
ECB profit for 2016 rises on asset purchase income
Supervisory charges on banks rise by €105 million
RBA’s Ellis: cross-country and micro-factors matter for housing
The assistant governor sees country-specific and micro-factors as important to understanding the diversity of outcomes in the housing market
Bank of Uganda cuts rate as inflation outlook improves
The near-term inflation outlook worsens, but latest forecasts shows recovery within the target band; the IMF’s Lagarde praises the central bank for its “prudent” approach
Rosengren warns Fed may have to increase pace of tightening
Data suggests that the US labour market is tightening, Eric Rosengren argues
IMF paper examines bank lending in Saudi Arabia
Despite low oil prices, credit to the private sector “remained robust”, but an overreliance on banks financing the deficit needs to stop, author says
Malaysian government opens case on historic forex losses
Task force to probe heavy losses of Bank Negara Malaysia in the early 1990s, which reportedly included costly bets against George Soros
ECB paper models causes of flash crashes
Informational asymmetry and thin participation can cause liquidity problems, paper argues
Central bank of the year: Bank of England
The BoE has undergone a major restructuring that has reshaped its organisational framework, research and public interaction – leaving it well positioned to meet the challenges ahead after a tough year
Risk manager of the year: Bank of Ghana
The central bank has built a dedicated risk function, instilling a strong risk management culture into business operations and protecting itself from emerging threats
Risk management services provider of the year: OpenLink
OpenLink has continued the evolution of its Findur product with the development of collateral management functionality, notably supporting the Bank of Canada in its move towards collateral posting
Website of the year: Central Bank of Kenya
The East African central bank has embraced responsive design to cater for an increasingly mobile audience, eclipsing the websites of many peers
Yellen calls for “sustainable” fiscal policy
Bank lending has grown since passage of Dodd-Frank Act, Fed chair tells Congress
Riksbank sees need for expansionary policy, despite rising inflation
Inflation in Sweden is now close to target, and expected to overshoot, but the central bank is holding policy steady with an eye on political uncertainty
Only struggling banks cut lending to raise capital ratio – IMF paper
Study of Eastern Europe says banks' strategy matters when it comes to assessing the impact of Basel III; only banks with low profitability cut lending to meet requirements
BoE says launch of £10 to go ahead, despite tallow traces
UK central bank will continue to print the £10 on the same substrate as the controversial fiver; options may be reconsidered for the £20
Danish paper examines funding costs in stress test scenario
Banks unable to attract funding quickly in a liquidity crisis, author says; model underscores importance of incorporating funding costs into stress tests
People: MAS picks chief for new data group; SBP deputy reappointed
MAS appoints machine-learning specialist as chief data officer; State Bank of Pakistan deputy gets another term; long-serving IAIS secretary-general to step down
Consultancy and advisory services provider of the year (core): BearingPoint
BearingPoint’s consultants received high praise for their work in helping central banks manage large volumes of regulatory data, and the firm’s software underwent an upgrade in 2016
Consultancy and advisory services provider of the year (bespoke): Innovia Security
Polymer bank note provider also offers a suite of advisory services from design through to recycling to prepare central banks for the transition to ‘plastic’ bank notes, as highlighted in Nicaragua
Transparency: Bank of Canada
Communications embedded in the policy process, fresh thinking on shared content and an expanded senior team show the central bank’s commitment to staying at the leading edge of transparency