Official Record
BoE's financial policy committee publishes latest minutes
UK macro-prudential regulator says it will prioritise medium-term capital framework for banks, ending ‘too big to fail', and transform shadow banking
HKMA reviews progress on global financial regulation
Bulletin article outlines the stabilisation options that member jurisdictions should have access to in the event that a too-big-to-fail bank does just that
RBNZ rings changes in policy frameworks
Annual report highlights changes in how Reserve Bank of New Zealand is organised, the way in which it formulates policy and the tools at its disposal
Minutes reveal Riksbank reluctant to give up say on macro-prudential matters
Deputies say democratic accountability is more about who has the right to make decisions than achieving policy objectives; see ‘clear link' between macro-prudential policy and monetary policy
BoE's Tucker clarifies FPC's macro-prudential powers
Article gives details of the inner workings of the Financial Policy Committee, including powers of direction and recommendation, its accountability and powers to hide information from the public
Croatia under threat from falling growth and rising debt
Public debt is capped at 60% but is now approaching that limit; there are further signs of weakness in the Croatian and European real economies
RBA looks to exchange rate
The Reserve Bank of Australia keeps the door open for further rates cuts but emphasises that a weaker currency ‘would be helpful’ in boosting demand
Hungary council members divided over rate drop
Central Bank of Hungary monetary council members were split over the size of last month’s rate cut; minutes from August meeting signal that easing cycle is winding down
Bank of England publishes banking primer to educate public
Article says role of prudential regulation is to ensure the soundness of banks by ensuring they have sufficient capital and liquidity to avoid disruption of critical services provided to the economy
ECB calls for action as ABS market reaches ‘crossroads’
European Central Bank’s monthly bulletin calls on other institutions to help kick-start the market; suggests ABS transactions could be guaranteed in an attempt to boost SME lending
Slovenian economy assailed by austerity and money markets
According to central bank's 2012 annual report, inflation and credit costs increased as consumption, bank lending and the current account deficit fell
Eastern Caribbean Central Bank (ECCB) governor looking for ‘quantum leap’ in output
Dwight Venner calls for three-pronged approach to recoup the Eastern Caribbean Currency Union’s output losses over the past four years and return to growth
Moroccan central bank aims to boost SMEs while implementing Basel III
Central Bank of Morocco annual report for 2012 shows the economy continuing to stagnate, despite the best efforts of an expansionary monetary policy
ECB paper backs broader financing alternatives
Occasional paper says the ECB’s monetary polices has had an ‘uneven effect’ on eurozone businesses; calls for more diverse capital structures
Kenyan central bank defends depreciating shilling
The Kenyan shilling has dropped almost 5% in value against the dollar since May; central bank insists this is a necessary rebalancing and does not pose any damaging inflationary pressures – yet
Zambian central bank sees currency stability but inflationary pressures through year-end
The Zambian kwacha has taken a hit against the biggest global currencies but appreciated against the South African rand, meaning REER held steady
Cape Verde aims to keep euro peg credible
Maintaining the Cape Verdean escudo’s peg to the euro is the central bank’s ‘main concern’; setting policy to stabilise its international reserves and – in turn – the peg
Kuwaiti central bank details triumvirate of stress tests
Central Bank of Kuwait releases annual report; details its three-pronged approach to stress-testing the country’s banks
Bullard says US government should scrap CPI inflation targeting
The St Louis Fed president believes switching to the Fed's PCE measure would provide clarity to the public about which measure more accurately reflects consumer price inflation
Palestinian annual report highlights infrastructure progress
Palestine Monetary Authority details successful projects completed in 2012, including the introduction of the region's ‘most efficient’ RTGS system
Slovenian stability review scolds ‘inactive and irresponsible' bank owners
Slovenian banks are squeezed by increasingly expensive wholesale funding and heavy exposure to an anaemic corporate sector, stoking fears of 'systemic risk' at the central bank
Nigeria's financial system stable despite major challenges
A handful of lenders continue to dominate the country's banking industry, but asset quality and capitalisation levels ‘improved significantly' last year, according to the central bank's latest stability report
Brazil minutes show Copom fears long-term effects of weaker currency
In the short term, the committee felt the depreciating real would cause a ‘natural and expected correction in relative prices', but its longer-term effects should be combated
Curacao and Sint Maarten banks hit with ‘credit freeze’ in 2012
Central bank prevented banks from extending new loans after failing to control the islands’ rapid credit growth through more conventional measures