News
National Bank of Denmark narrows range of collateral it accepts
Financial market ‘normalisation' provides ‘opportunity' to omit assets made eligible after crisis to keep Danish banks from borrowing in euros
NBP warns ECB-Fed mismatch may impair policy-making
Polish central bank says divergence of European and US monetary policy is likely to create problems for policy-makers elsewhere, especially in small, open economies
Banque de France ‘significantly’ improves research output
External review of central bank research finds ‘significant rise in quantity and quality’ in past six years; suggests improvements in communication with policy-makers
Bank of Mexico will run new oil fund
Central bank will be responsible for receiving, managing and distributing all income, excepting taxes, of the country’s oil and gas operations; will invest over ‘wider horizon’ than with past fund
FSB urges central banks to ‘take note’ of Iosco FX benchmark principles
Final report on FX rate benchmarks encourages central banks to heed Iosco recommendations; suggests changes to benchmark methodology to improve incentives
IMF flags up uneven application of shadow banking regulations
Report finds ‘indications of increased market and liquidity risk' in sector; China ‘stands out and warrants particular monitoring'
Summers calls on Fed and US Treasury to 'fully' coordinate debt management
Paper published today finds Treasury purchases of long-term bonds offset ‘about a third’ of QE benefits to US economy post-crisis; Fed governor dismisses controversial proposal
Argentina central bank staff strike over pay
More than 80% of employees are on strike, according to a workers' union; central bank says the demonstration has not affected their activities
Rajan turns attention to 2016 inflation target
Reserve Bank of India holds key rates as headline inflation drops to 7.8%; Rajan says policy will be set to achieve 6% target by January 2016 from this point onwards
Focus on risk culture is ‘remaking’ the banking system
Patricia Jackson highlights ‘big shift’ in banking as firms implement more rigorous risk frameworks; BoE’s Andrew Bailey sets out the PRA’s approach
IMF warns of new asset bubbles caused by ‘expansionary policies' post-crisis
Report finds global imbalances are shrinking, and concludes this is driven by structural reduction in demand rather than ‘expenditure switching' to domestic products
Bundesbank unveils new card clearing infrastructure
Bundesbank and EBA Clearing launch new XML-based infrastructure for card clearing; payments chief says it allows banks to ‘leverage’ their Sepa investments
US senator calls for hearings into NY Fed supervision
Elizabeth Warren says ‘disturbing issues' raised by former employee's secret recordings of colleagues; New York Fed ‘categorically rejects allegations'
Brazil central bank director vows quick response to inflation
The monetary policy committee of the central bank will evaluate whether the interest rate needs to be raised to battle inflation, says director, and will act quickly if necessary
PBoC sanctions direct trading between renminbi and euro
People’s Bank of China names euro as latest currency to be directly tradable with the yuan on the Chinese interbank market
Trinidad central bank hikes rates in response to Fed forward guidance
‘Altered expectations' over timing of US normalisation puts pressure on Caribbean economy; necessary to ‘enhance appeal' of currency, says central bank
Hong Kong protests trigger emergency action by HKMA
HKMA activates its business continuity plan and takes extraordinary measures to maintain stability as thousands of pro-democracy protesters take to the streets
Supreme Court clears Central Bank of Sri Lanka over Greek investment
Sri Lankan governor and monetary board members cleared over investment in Greek government bonds; Supreme Court says investment decisions ‘best left to central bank’
BIS paper unveils refined measure for Chinese inflation
Joint effort by economists at the BIS and People’s Bank of China yields new measure of Chinese inflation, which authors say addresses issues with headline and core measures
National Bank of Belgium to close half its remaining branches
Belgian central bank reveals plans to close its branches in Mons and Hasselt in 2016, which are predominantly involved in processing cash
Central Bank of Turkey quadruples amount of forex on offer in daily auctions
Lira's ‘heightened volatility' follows bank's decision yesterday to hold interest rates steady; pressure on forex the result of geopolitical risk, says analyst
Rebel incursion has not halted central bank operations, says Yemen deputy
Ibrahim Alnahari says the central bank is doing its best to maintain normal operations despite continued violence on the streets of Sana’a, with action taken to protect banking sector
ECB’s Coeuré shifts focus to the quality of credit
European Central Bank executive board member Benoit Coeuré outlines policy mix needed to channel credit towards productive investment; expects more demand for TLTROs
Fed normalisation could have ‘significant impact' north of the border, Canada deputy warns
Speeches by leading central bankers in Ottawa, Tokyo and St Louis highlight the stakes of looming Fed normalisation both within and outside the US