Central Banks
BIS’s Shin argues bank capital underpins both monetary policy and financial stability
Research sheds light on tension between bank shareholders and wider society, as high levels of capital support lending and therefore affect the real economy as well as the financial sector
Senior deputy plays down Indonesia’s external debt burden
Mirza Adityaswara says debt burden safer than it looks; defends mandate requiring domestic deals be made in rupiah and admits loan rates "probably too high" at Hong Kong conference
Ingves raises fundamental questions about central banking
Riksbank governor sets out questions around monetary policy and macro-prudential framework in Sweden, raising the prospect of a merger with the FSA and joining the SSM
People: Shirai begins new chapter at Keio University; Sibley named as Irish director of credit institutions
After five years on the BoJ policy board, Shirai returns to academia; Ireland central bank names new director of credit institutions; and more
Norges Bank researchers grapple with nonlinear exchange rate pass-through
Exchange rate pass-through in Norway is unusually high, which the authors suggest could be due to the size of recent currency movements – but pinning down the effect empirically proves difficult
PSR has taken ‘decisive action’ in its first year – managing director
Nixon marks PSR’s first birthday with speech in Copenhagen; regulator has helped in improving access and “levelling the playing field” for market participants
RBA establishes new macro modelling division
External review recommends new approach to “full-system” models at heart of policy analysis, warning modelling expertise is limited at the central bank
Swiss National Bank bolsters security features of first banknote in new series
The new series printed on three-layered substrate boasts a range of new security features; Sfr50 enters circulation on April 12
Canadian banks could withstand shock from China, deputy governor suggests
Financial institutions have adequate capital liquidity to handle external pressures, Wilkins says; research suggests Canadian growth would decrease by 0.1% if Chinese growth fell by 1%
Book notes: Bretton Woods: the next 70 years
The Bretton Woods Committee has assembled a large number of distinguished authors for this volume, but ultimately the book ends up long on problems and short on solutions
Ghanaian deputy becomes new governor
One of two deputy governors of the Bank of Ghana takes over top role; Abdul-Nashiru Issahaku joined bank in July 2013 after working for several international agencies
Investors to sue Portuguese central bank over asset writedown
A group of bondholders in a failed bank are bringing a lawsuit against the Portuguese central bank over its writedown of their holdings in a failed commercial bank
Coen looks to wider issues affecting bank resilience
Secretary general of Basel Committee highlights importance of corporate governance and culture, IT systems and stress tests for resilience and profitability
Australian inflation likely to remain low for next two years, governor says
"Accommodative" monetary policy appropriate as GDP picks up, Glenn Steven says
People: Bank of Estonia reappoints deputies; Lagarde wants to reappoint IMF first deputy
Bank of Estonia hands new terms to Ülo Kaasik and Madis Müller; David Lipton in line for reappointment at IMF; Graeme Wheeler to head up BIS Asian Consultative Council; and more