Central Banks
Dudley leads Fed speeches as December meeting looms
William Dudley says conditions necessary for rate hike ‘could soon be satisfied’ but notes concerns about inflation outlook; Evans, Fischer and Lacker also speak on US outlook
Short-term funding developments put Norwegian banks at risk, report finds
Parts of the Norwegian economy remain a source of vulnerability for banks, says deputy governor Nicolaisen at launch of latest financial stability report
Speed of response a good proxy for risk culture, FCA director says
Good risk culture makes firms more responsive and can help avoid nasty fines, says UK regulator’s head of enforcement
ECB aims for single policy on ‘options and discretions’ with new proposals
Central bank publishes draft documents aiming to create a single policy for the exercise of options and discretions under banking law in financial systems it regulates
FSB refines shadow banking definition with new ‘activity-based’ measure
Attempt at greater precision estimates shadow banking sector represents around 30% of non-banks; final framework for securities financing transactions published
BIS paper models non-linear eurozone crisis impact
Researchers attempt to capture endogenous amplification mechanisms in causing widened lending spreads during eurozone crises
Identifying the effects of structural shocks exposes problems with real-time data, researchers say
Using a model that identifies the effects of structural shocks, the paper finds ‘substantial and systematic’ differences between ways real-time and final data respond to monetary shocks
Level playing field could help ‘unlock’ Islamic finance potential, says Lagarde
Speakers at the Islamic Finance Conference in Kuwait highlight the growth benefits of financial inclusion, especially for underserved parts of the Muslim population
Decisions on ELA could be shifted to ECB
Mario Draghi says ‘intricate’ framework for providing emergency liquidity assistance could be reviewed in light of banking union; potential for decisions to become ‘more European’
Challenging crosscurrents from divergent monetary policy
Divergent monetary policies around the world and challenges linked to China’s economic rebalancing present central bankers with some opportunities as well as numerous threats
Christopher Pissarides on QE, the eurozone and economics
The Nobel economist tells Chris Jeffery why events in Europe have undermined neoclassical beliefs, QE is an optimal policy tool and Cyprus should not have joined the euro
The big data revolution and central banking
Central banks are increasingly turning their attention to the challenge of analysing very large datasets. But is ‘big data’ as revolutionary as some claim?
Improving banknote efficiency in India
The RBI manages nearly 80 billion banknotes in circulation – a number set to grow by more than 5% per annum. Vijay Shekhawat explains how the central bank is optimising its banknotes business
Harnessing network theory for more prudent bank supervision
Closer supervisory activities and data-sharing post-crisis offer the potential to harness network techniques to gain an improved understanding of financial risks
Post-conflict central banking
Building the integrity and operational soundness of central banks is a vital priority for post-conflict countries.
The Islamic liquidity facility conundrum
The rapid growth of Islamic finance could undermine both financial stability and monetary policy if central banks do not set up sharia-compliant facilities