Federal Reserve Bank of New York
People: BNM picks new assistant governor; Charlie Bean nominated to OBR post
Markets specialist takes over assistant governor role at Malaysian central bank; former BoE deputy to sit on budget oversight committee; new head of monetary policy research in Israel; and more
Swift CEO gives network top marks despite Bangladesh Bank theft
‘No room’ for complacency says Leibbrandt, noting it is now up to the banks to upscale their security infrastructure
Dudley: market expectations may be ‘too complacent’
Federal Reserve Bank of New York president says the Fed will probably need to hike more than once before the end of 2017 if the economy evolves as expected; warns of "insufficient weight” on upside
Gaps in banking and AML laws need urgent attention, Philippine deputy says
In the wake of the Bangladesh hacking scandal, the Central Bank of the Philippines wants to improve the legal framework underpinning the banking sector
Building a fast, flexible and free DSGE model
A team at the New York Fed is part way through translating its DSGE model into Julia, a fast, open-source mathematical programming language
New York Fed official stresses third site capacity for FMIs
Richard Dzina argues systemic FMIs should consider maintaining technologically diverse third site solutions to successfully deal with present cyber challenges
Researchers uncover details of ‘sophisticated’ Bangladesh Bank hack
Hackers showed deep understanding of Swift systems, going to great lengths to hamper Bangladesh Bank’s response, research by BAE finds
People: ECB names HR director-general; BoE gets new MPC member
ECB appoints new head of human resources; Citigroup economist joins Bank of England’s Monetary Policy Committee; New York Fed’s chief lawyer to step down after twenty-one years in the role
Dudley hits back at plans to curb Fed discretion
New York Fed chief says plans to force Fed to follow a monetary policy rule would lead to “significant policy errors”; supports transparency, but within bounds
NY Fed says ‘no evidence’ systems breached
Spokeswoman says there is “no evidence” of attempts to penetrate Federal Reserve systems, amid reports saying Bangladesh Bank was concerned funds were stolen from its account
People: New York Fed research head retires, RBNZ appoints new head of currency
James McAndrews will leave the Federal Reserve Bank of New York after 19 years; Steve Gordon gets new portfolio at RBNZ; and more
Dudley flags inflation uncertainty and expectations concern
New York Fed president says uncertainties around his assessment of the inflation outlook have increased; warns of slide in household expectations and stresses need for ‘close scrutiny’
NY Fed’s Potter ‘extremely pleased’ with rate control
The Fed’s framework for controlling money market rates has proven ‘effective’ in the wake of December’s lift-off, according to executive vice-president Simon Potter
Dudley says US households responding more cautiously to house price growth
New York Fed report finds housing debt has been relatively flat over past few years despite house prices rising steeply over the period; points to higher principal debt repayments
New York Fed president keeping eye on expectations
William Dudley expects inflation expectations to increase if the economy keeps growing at an above-trend pace, but any deviation could be cause for concern
Consultancy and advisory services provider of the year: BlackRock Solutions
A key partner to major central banks engaging in complex asset purchases, asset quality reviews, resolution mechanisms and strategic asset allocations
Modern central banks need big data strategy, Riksbank economists say
Central banks need to adapt to growing data volumes, but the organisational changes required could help departments work together more closely, economists say
Forecasters expected ‘significant’ drop in bond yields in wake of Fed easing, paper finds
Staff report published by the Federal Reserve Bank of New York examines how professional forecasters revised their predictions in aftermath of Fed decisions
Fed to encourage supervisory staff to air divergent views
Federal Reserve will develop practices encouraging staff to exchange and respond to divergent views in 2016; New York Fed and Richmond Fed boost supervisory resources following review
New York Fed’s Musalem: culture is as important as capital
Head of the New York Fed’s integrated policy analysis group highlights potential for ‘dissonant sub-cultures’ at firms that otherwise promoted values and codes of conduct
Dudley leads Fed speeches as December meeting looms
William Dudley says conditions necessary for rate hike ‘could soon be satisfied’ but notes concerns about inflation outlook; Evans, Fischer and Lacker also speak on US outlook
Personal integrity key in battle for better culture, Lagarde says
IMF head calls for action to rebuild trust in the financial industry at the New York Fed conference; Fischer says it is impossible to improve the culture and then ‘retire from the battlefield’
John Taylor and William Dudley clash on Fed strategy
Stanford professor John Taylor questions Fed’s communications; New York Fed president William Dudley sets out case against following more rules-based policy
People: NY Fed appoints supervision head; Israel reorganises supervision department
Kevin Stiroh to head financial institutions supervision group at New York Fed from October 26; departure of two deputy supervisors from Bank of Israel prompts reshuffle; and more