Central Banks
PNG governor says central bank braced for LNG revenues
Bank of Papua New Guinea governor cautious in face of liquefied natural gas production coming online later this year, which could boost growth but may result in a decline in the manufacturing sector
Ingves touts simplicity of final Basel CCP rules
Chairman of the Basel Committee says final rules for banks’ exposure to CCPs show success of ‘relatively simple solutions’, which includes single approach for calculating capital requirements
South African Reserve Bank shares set to hit the market
A significant number of shares in South Africa's central bank are expected to go on sale later this year after the ‘regularisation' of ‘certain shareholdings'
Bank of England and ECB in joint call to put ABS back in play
European Central Bank and Bank of England promise more thorough treatment of how to reverse asset-backed securities market decline - which could allow ECB to undertake QE
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
Philadelphia Fed president calls for 'simpler' regulatory mechanisms
Simple, transparent regulatory mechanisms would make it easier for market participants to predict how regulators behave, and increase the effectiveness of the regulatory regime, Charles Plosser argues
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference
Praet invokes Minsky to show importance of banking union
Europe's economies cannot converge by allowing 'catch-up' countries to ride a financial cycle upswing - as what goes up must come down, ECB chief economist tells conference
End of easy financing puts one-third of EM corporate debt at risk, IMF warns
IMF's Global Financial Stability Report warns emerging markets must take action to prepare for the end of quantitative easing in advanced economies
Two injured as bomb blast hits Bank of Greece
Bank of Greece security personnel injured by attack hours ahead of county’s return to international bond markets and visit by German chancellor Angela Merkel
Caruana outlines path to recovery from global balance sheet recession
BIS general manager says global economy requires co-ordinated monetary, prudential and fiscal policies in order to recover from the recession caused by financial boom and bust
Brazil central bank gives banks time off for World Cup
Banks must work as usual during the World Cup, the central bank has said - but can take an extra hour off when the Brazil team is playing
People's Bank of China hires Ma Jun as chief economist
High profile China economist makes switch to central bank to participate in ‘aggressive' economic reforms to ‘shape the future' of China's economy
Central Bank of UAE opens first ever discount window
The Central Bank of the United Arab Emirates will introduce a standing liquidity facility next week, offering banks overnight loans at 100 basis points above official repo rate
Norges Bank governor says clear 'reaction pattern' lessens attention on forward guidance
Øystein Olsen tells Columbia University audience the better central banks become at communicating their reaction pattern, the less attention their forward guidance will receive
DNB's Knot says EMU countries must stick to macroeconomic rules
Blame for the euro crisis should be shared between surplus and deficit countries, says Dutch central bank chief, who urges a strict adherence to rules governing monetary union
Effect of a monetary policy shock is volatile over time
Research using 100 years of US economic data finds the sensitivity of the economy to monetary policy shocks has changed ‘dramatically'
Fed finalises strict leverage ratio requirements for biggest banks
The Federal Reserve has finalised rule that will require systemically important banks to maintain leverage ratios of at least 5% from 2018
French paper constructs credit risk indicators for eurozone
Working paper published by Banque de France builds credit risk indicators that are ‘highly robust’ leading indicators for economic activity and the growth of bank lending
Norway hands SWF ethical investment responsibilities to central bank
Finance ministry disbands external ethical investment committee, putting responsibility for decisions with Norges Bank Investment Management
Ukraine central bank gets new audit committee
Refreshed oversight council gives blessing to new deputy governors and establishes new audit committee; daily FX benchmarks will now be effective immediately
Early-warning indicators ‘crucial' where imbalances don't cause inflation
Hungarian paper singles out early-warning signals for macro imbalances that could be missed by a single-minded focus on price stability
Iceland prepares to phase out smallest banknote
Central Bank of Iceland hints at replacing the 500 krónur banknote with a coin, and scrapping the three lowest value coins altogether; introduced new 10,000 krónur note last year