Central Banks
Eurozone QE ‘much needed’ but not enough for growth, Greek deputy says
Bank of Greece deputy governor Iannis Mourmouras praises ECB programme but suggests more measures needed from elsewhere; criticises poor sequencing of structural reforms in past
PBoC confirms Korea on track to issue first sovereign 'panda bond'
Korean government authorised to raise 3bn yuan in interbank market, China's central bank confirms; Seoul reportedly marketing bond during China roadshow this week
Bernanke and Trichet join Pimco global advisory board
Global investment management firm compiles new global advisory board from leaders in the world of economic and political policy
Dynamics and volatility of capital flows a concern, says Mexican deputy
Manuel Ramos-Francia says EM policy-makers are concerned not only with the size of capital outflows, but also the dynamics of those flows, at conference hosted by Bank of Mexico
Central Bank of Armenia says currency turbulence has raised credit risks
Financial stability report says economy has been affected by sharp depreciation of the dram, worsening credit risk as many loans are denominated in US dollars
EU survey calls for more cohesion on cloud computing
There appears to be a lack of clear and formal guidance from financial supervisors on banks’ use of cloud-based IT services, while their use is underestimated, an EU agency says
Banks may need major overhaul to handle new disclosures, FSB task force says
Many banks will need to make ‘substantial changes’ to systems and processes to cope with new and more complex standards on accounting for expected credit losses, report finds
Ugandan social security fund’s outside investments performing well, CIO says
Gerald Kasaato says investments in Kenya are performing well; greater use of external managers could be ‘very beneficial’ if restriction to East Africa investment is expanded
South Africa evades recession with positive growth in third quarter
Agriculture sector remains a concern despite economic growth in third quarter, most recent Sarb quarterly review notes
Barbados paper identifies a ‘couple of gaps’ in central bank archives
Working paper calls for Central Bank of Barbados to implement fully inclusive digital database after 'gaps' in archival activities are identified
BIS: Artificial calm in markets cannot last
Quarterly review presents latest evidence of fault lines running through financial markets; Claudio Borio says tension between market behaviour and underlying conditions must be resolved eventually
Leverage ratio as high as 5% could yield net benefits, BIS economists say
Authors say there is ‘considerable room for manoeuvre’ when it comes to setting a leverage ratio above the current Basel III minimum of 3%
Mexican paper sees need for ‘combination’ of policies to reduce informal labour
Measures to reduce entry barriers to and relative value of formal labour could be in order, working paper published by Bank of Mexico finds
Technology empowering bank customers, says Israeli supervisor
Further integration of tech into banks has increased competition in the market and amount of power customers have over financial institutions, Ber argues
ECB changes euro FX reference rates' publication time
ECB will change the time of its publication of the euro’s foreign exchange reference rates to help ‘safeguard integrity’; further changes may be made if transactions linked to the rates do not fall
Carney says reciprocity ‘central feature’ in ESRB framework for spillovers
ESRB analysis shows domestic policies can be more effective if their spillovers are managed; Carney says framework for doing so will be operational ‘early next year’
Norges Bank shuffles organisation of support functions
Norges Bank looks to strengthen support structure through creation of central secretariat, which will be headed by Birger Vikøren
Draghi reasserts ECB’s willingness to act
Mario Draghi says there cannot be any limit to how far the ECB is willing to deploy its instruments within its mandate, after easing package meets with lukewarm reaction on markets
French and German central banks cut inflation projections for next two years
Falling energy prices main factor in downward revision of German and French central banks’ projected inflation rates for 2016 and 2017
Consensus key for moving forward in Greece, says central bank
Bank of Greece stresses need for ‘unobstructed’ implementation of creditor agreement, as it publishes latest interim report on monetary policy
Argentina’s president elect aims to dismantle complex capital controls
‘Macri-economics’ could consist of unwinding capital controls, boosting export competitiveness and unifying exchange rates, but it will be a challenge, observers say
Policy-makers need better models and data on bank and non-bank links, Fischer says
Data on a range of activities remains ‘inadequate’, while research has only shed ‘partial light’ on issues surrounding troubled financial institution during the crisis, Fischer says