Central Banks
Bank of Mexico sells dollars to stop peso decline
Bank of Mexico will buy up to $200 million worth of pesos a day, after a currency depreciation that it fears could boost inflation and push the central bank into an interest rate hike
Euro Retail Payments Board warns of fragmented market for 'instant payments'
Stakeholder group sets up working streams on 'person-to-person' and contactless euro payments; chair Yves Mersch stresses importance of instant clearing services
People: Bank of Finland names administration head; NBU appoints new director for pension fund
Bank of Finland will have a new administration head from January 1; National Bank of Ukraine hires a securities expert to lead the corporate pension fund; and more
Tombini: Brazilian inflation might increase in the near term
Central Bank of Brazil governor believes inflation could rise in the next few months on the back of a depreciation in the real, but commits to bring it back to the target ‘as fast as possible’
Central banks should consider financial stability when setting monetary policy, finds BoJ paper
Discussion paper published by the Bank of Japan argues the risk-taking channel of monetary policy has ‘become more important’ as financial intermediation has moved to markets
UK's FCA unveils reshuffle amid criticism
Conduct supervisor admits supervisory model for small firms has been "under strain" as three directors quit; critical report due to be published this week
Irish government looks to lift restrictions on central bank disclosure
New bill will, if passed, allow staff at the Central Bank of Ireland to reveal certain confidential information to parliamentary committees
Cluster effect helps explain size of UK banking sector, BoE bulletin finds
Firms and people locating near one another means banks may be able to provide services more efficiently in the UK than other countries, researchers say
HKMA launches new liquidity facility
Discount facility for government bonds aims to provide greater flexibility for banks in meeting liquidity needs; HKMA also moves to ‘streamline’ bond tenors
National Bank of Ukraine to overhaul payments system
National Bank of Ukraine is upgrading its payments system with a view to widening its use; it is also exploring the use of mobile applications in making payments
Active FX intervention could have long-term costs, says Bank of Mexico deputy
Central bank policies to manage capital flows ‘may have resulted in short-term benefits’ but their costs in terms of market distortions ‘may be high’
Bank for International Settlements sees danger lurking beneath exuberant markets
Recent rapid 'flip-flopping' by markets from risk-on to risk-off and back reveals fragility hidden beneath buoyant asset prices, and central bank interventions may make the problem worse
Central banks in SE Europe publish 19th century data
Institutions in Albania, Austria, Bulgaria, Greece, Romania, Serbia and Turkey team up to shed light on ‘statistical dark ages’ going back to the Ottoman Empire in 1830
BIS quarterly review warns even high quality securitisations carry risks
Quarterly review article says even simple, transparent and high-quality securitisations create uncertainty, making estimating risks tricky, especially in mezzanine tranches
Basel Committee: US and EU capital rules still falling short
Basel Committee’s second assessment of compliance with Basel framework finds both EU and US are not complying in all areas, but both argue deviations are justified
Belarus central bank handed 12% inflation target
President of Belarus expects inflation to fall from 20% to 12%, while the central bank simultaneously reduces its policy rate by at least 500 basis points
Bank of Russia vows to carry out ‘unlimited' interventions to defend ruble
Central bank returns to market less than a month after allowing currency to float; cuts interest rates on forex repos
Argentina governor wants new growth model for LatAm
Central Bank of Argentina governor believes Latin American countries need to invest in infrastructure and boost internal production
Sweden's central bank and macro-prudential regulator clash over leverage ratio
Riksbank calls for stricter and earlier implementation of Basel III measure a day after Financial Supervisory Authority rejects proposals
BoE’s Bailey considers relevance of macro-prudential tools in insurance sector
Deputy governor says there is a ‘good argument’ for a macro-prudential response to a situation where insurers are liquidating their assets on a pro-cyclical basis
SNB working paper examines drivers of Swiss franc real exchange rate
Research finds terms of trade and relative government are ‘the most significant explanatory variables’, while Balassa-Samuelson effects are unimportant
Spanish working paper explores inflation dynamics
Research considers the impact of different industrial structures on the response of inflation to technology, interest rate and entry cost shocks