News
US regulation of foreign banks follows 'pattern set by the EU', says Fed's Tarullo
Basel rules are ‘floors, not ceilings', the Federal Reserve's Daniel Tarullo said yesterday, following accusations that the US is treating foreign banks unfairly
People: Central Bank of Ireland gets new top supervisor; MAS reshuffles management team
Sharon Donnery new director of credit institutions at Central Bank of Ireland; MAS's Foo-Yap Siew Hong retires after 39 years; and more
Fed rejects Citi's dividend plans
The Federal Reserve has rejected the capital plans of five systemically important banks following annual stress tests; Bank of America and Goldman Sachs squeeze through
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
Riksbank told to stop ‘leaning against the wind' by national forecaster
Sweden's National Institute for Economic Research sees ‘no reason for monetary policy to be influenced by household debt' in a rebuke of Riksbank policy
New Zealand champions coordination of monetary and macro-prudential policy
Reserve Bank of New Zealand deputy governor says there is an ‘appropriate role’ for coordination if both policy arms retain ‘clear primary objectives’
BoE and PBoC to ink deal on London RMB clearing bank
Central banks will sign memorandum of understanding next week that will pave way for London to establish the first offshore renminbi clearing bank outside Asia
Fed finds 75% of US citizens reluctant to pay by phone
While mobile banking continues to grow, many consumers are growing more sceptical of services and the security of the technology, according to a Fed survey
NY Fed releases new research on large and complex banks
Special edition of the Economic Policy Review aims to further study and debate, and help inform policy-makers on issues around too-big-to-fail
Nigerian parliament confirms Emefiele as Sanusi's successor
Upper house today confirmed Godwin Emefiele as next governor of the Central Bank of Nigeria; MPC held key rate yesterday despite 'unanimously' voting to tighten
Stress test revisions ‘an embarrassment’ for the Fed
Federal Reserve revises stress test results due to ‘inconsistent’ assumptions of banks’ capital plans; ‘undermines confidence’ in the institution, according to former official
SNB expands equity holdings in ethical investment drive
Switzerland’s central bank increases its equity holdings by $18 billion to $77 billion in 2013; refuses to invest in companies that cause 'severe environmental damage'
BoJ mimics Fed with new 'organisational principles’
The Bank of Japan adopts a similar range of values to the Federal Reserve, while setting its strategic goals for the next five years
Monetary and fiscal policy co-ordination needed in WAEMU, say Africa researchers
Three papers examining the West African Economic and Monetary Union find monetary policy transmission channels work well, but must be used in conjunction with helpful fiscal policy
Parliament eyes Riksbank's off-mark inflation forecasts
Report on Swedish central bank's performance in 2013 shows its inflation forecasts were off the mark; flawed forecasts have forced several central banks to upend policies in the past months
East Africa takes more steps on path to integration
East African Community agrees to expand its relationship with a regional counterpart; implements new project to harmonise payment and settlement systems
Japan FSA proposes two phases for mandatory clearing
The proposals would force financial institutions to clear their yen interest rate swaps, although insurance companies and pension funds are absent from JFSA plans
New governor for Reserve Bank of Zimbabwe
New governor takes over at a time of change for the RBZ, which is aiming to regain control over interest rates and the banking sector
ABS innovations aim to clear credit rating log-jam
Innovative way of calculating capital requirements for securitisation portfolios could take rating agencies out of the game - and put the European economy on the path to recovery
Volcker perplexed by Fed taper criticism
Former Fed chairman tells Central Banking Awards audience that central banks are ‘promising more than they can do’ and taking away ‘the punchbowl in time’ is Janet Yellen’s ‘big test’
Kocherlakota says Fed's new guidance creates uncertainty
In explanation of dissent, Narayana Kocherlakota says he would have preferred the FOMC to stick with quantitative guidance by lowering unemployment threshold to 5.5%
ECB flags pitfalls for new Estonian supervisory law
Legal opinion on draft law praises intentions but warns of a number of risks, including the potential to undermine the central bank’s independence
People: New deputy for Norges Bank; deputies depart in India and Kyrgyzstan
Jon Nicolaisen will start a six-year term as deputy governor of Norges Bank on April 1; RBI's Chakrabarty steps aside early; and more
Downturn could halve capital ratios of biggest US banks, Fed stress tests show
Bank of America, Goldman Sachs, JP Morgan, Citigroup and Morgan Stanley all perform below average in Fed stress tests