Central Banks
National Bank of Denmark to establish research unit
Central bank looks to bolster analytical work with new unit; advertises for a head of research with a track record of academic achievements and fluency in English to recruit and lead new team
Yellen warns not to 'overblow' liftoff as Federal Reserve raises rates
Federal Open Market Committee will keep close eye on ‘actual and expected progress’ toward 2% inflation, after embarking on first tightening cycle since 2006 with 25bp hike
Debelle highlights ‘rich potential’ in regulatory data
Regulatory reporting is still in its infancy, but already useful trends are starting to emerge, the RBA assistant governor says
BIS deputy warns all economies must manage ‘sudden floods’ of capital
Advanced economies face the same floods of capital as emerging markets, and may be hit by other spillovers that are not yet well understood, Luis Awazu Pereira da Silva says
Bank of Korea to adopt 2% target from 2016
Central bank scraps its target range in favour of a fixed point; inflation rises to 1% but board expects it to ‘continue at a low level’ in coming months
European regulation of investment firms needs reform, says EBA report
Micro-prudential regulation of investment firms in the European Union does not take proper account of risk and varies widely between countries and firms, an EBA report argues
Draghi calls for action on non-performing loans
Eurozone countries need wide-ranging reform of their systems for dealing with non-performing loans to stimulate the supply of capital to business, Mario Draghi says
BIS paper finds close link between MBS and bond yields
Authors find ‘strong empirical evidence’ for feedback between mortgage-backed securities and bond yields, with the effects proving transient and ‘hump-shaped’
Bank of Israel challenges interim competition report
Governor Karnit Flug warns of ‘marked risk’ to economic stability from some proposed measures; central bank argues they may hinder competition, not promote it
Bank of Canada identifies ‘prolonged weakness’ in commodity prices as a key risk
Latest financial system review suggests the resulting stress would be ‘manageable’, although an additional ‘large and broad-based drop’ would pose a bigger problem
Pakistan central bank ‘implicitly’ introduced new policy framework ahead of time
State Bank of Pakistan reveals it ‘implicitly’ introduced a new framework for monetary policy before it was officially announced, to avoid ‘unnecessary volatility’ in money market
HBOS investigation reveals possible ‘loose rivet’ in UK regulation
Accounting standards and auditing may be a weak point that is only just starting to be addressed, according to MPs at a parliamentary committee hearing on the failure of HBOS
Italian deputy governor warns on hurdles to capital markets union
The senior deputy governor of the Bank of Italy says capital markets union is necessary for the European economy but faces considerable obstacles
Market survey suggests Bank of Lithuania is a transparent supervisor
A survey of Lithuania’s financial market participants conducted on behalf of the central bank has found large majorities of respondents approving of the bank’s transparency and clarity as supervisor
Brazil private growth expectations slide further
Brazilian economy will contract by 3.62% this year with inflation breaching the 10% barrier, private institutions say
New Zealand economists stress-test dairy sector
An article published by the Reserve Bank of New Zealand finds banking system losses would still be ‘manageable’ under the worst-case scenario for milk prices and farm values
Irish central bank to investigate fund manager fees
The Central Bank of Ireland intends to investigate the levels of fees charged by asset managers based in the country; review will be one of 12 ‘themed inspections’ of the finance industry
Bahraini central bank launches ‘almost real-time’ payments
Central Bank of Bahrain launches Electronic Fund Transfer System, comprising services for near real-time payments, deferred net settlement and bill aggregation