Federal Reserve Bank of New York
Fed’s Dudley: liquidity warnings a ploy to weaken regulation
'Most arbitrage trading has simply ceased,' while Treasury market depth has dropped from $500 million to $130 million, bankers say
Safe as houses: designing a more stable mortgage
A conference at the New York Fed earlier this year looked at some innovative mortgage designs that could boost financial stability. Central Banking approached some of the speakers to learn more
Argentine reserves spared as US court overturns ruling
Central bank will not have to pay creditors out of its reserves, US appeals court rules, although the decision is not meant to allow Argentina to ‘continue shirking’ its debts
Fed data gives model of banks’ settlement service choices, paper argues
Data from the Fed’s Fedwire payment service shows that banks select payment services based on average rather than marginal cost, study finds
New York Fed researchers shine light on process of giving policy advice
Economists including head of research explain the process of briefing William Dudley ahead of FOMC meetings
US report finds ‘no single cause’ of October 15 volatility in Treasury market
Staff from five bodies, including the Fed board of governors and New York Fed, analyse data from unusual bout of volatility in the US Treasury market last year
NY Fed’s Dudley looks to boost CCP resilience
Federal Reserve Bank of New York president praises progress in extending global regulatory regime to central counterparties but calls for more work on their ‘recovery and resilience’
Fischer: more research needed on stress testing
Fed vice-chair sees room for improvement in the design of stress testing; NY Fed’s McAndrews fleshes out possible research agenda
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey
Dudley expects ‘some turbulence’ when Fed hikes rates
New York Fed president highlights importance of short-term rate path for financial asset prices – something he says will reflect changes in economic outlook and financial conditions
Cœuré and Dudley question case for policy co-ordination
ECB board member says central banks can ‘free themselves’ from influence of global financial cycle; NY Fed president says Fed should focus on promoting growth and stability in US
NY Fed’s McAndrews warns negative rates could drag inflation down
Director of research highlights some of the more radical unintended consequences that could stem from negative rates, including new forms of currency and inflation moving in unexpected directions
Jobs data recovers in the US as Dudley looks to help small businesses thrive
Non-farm payroll employment increases by 223,000 in April after a difficult March; NY Fed president considers how small businesses can access credit and expand
Central Bank of Argentina publishes secret minutes from last dictatorship
Argentina’s central bank releases minutes from secret board meetings during the country’s last dictatorship, which will "shed some light on one of Argentina’s darkest periods", says governor
People: NY Fed names first vice president; HKMA promotes research head
Michael Strine succeeds Christine Cumming as first vice president at the Federal Reserve Bank of New York; Lillian Cheung becomes executive director for research in Hong Kong; and more
Op risk analysis underrates human behaviour – Fed examiner
Next-generation operational risk should focus on behavioural dynamics in financial firms
NY Fed wants ‘enhanced communication’ around cyber threats
Sarah Dahlgren says the New York Fed is interested in learning from breaches in security elsewhere and using the intelligence to ‘get ahead of the game’
Fed officials grapple with lift-off details
Minutes from January FOMC meeting reveal extensive discussion about the tools at the Fed’s disposal when it wants to raise rates; idea of higher cap for overnight RRPs explored
People: Sejko confirmed as Albania governor; Vietnam names deputy
Gent Sejko confirmed in post after being nominated in December; Nguyen Kim Anh becomes sixth deputy governor at State Bank of Vietnam; and more
New York Fed unveils new way to calculate funds rate
Central bank plans to base the rate on a new dataset that captures a broader range of market activity; move likely to happen in about a year’s time
NY Fed's Baxter targets stronger ethical culture in banks
Thomas Baxter says progress is more important than ‘perfection' in promoting better behaviour among financial industry workers
New York Fed consultant slams bank's ‘intensely deferential' regulatory culture
David Beim, a Columbia professor who conducted confidential review into regulatory practices, says employees who speak out are ‘frequently hammered down' by supervisors
Dudley endures grilling on Goldman tapes
New York Fed president questioned by senate committee, including whether the culture at the Fed itself is up to scratch; Dudley contests claim NY Fed failed in supervisory duties
Dudley says Federal Reserve could do more to be a ‘better global steward'
Permanent FOMC member suggests dollar's reserve currency status sets the US central bank apart; warns Fed funds rate hike likely to spark ‘market turbulence'