Federal Reserve Bank of New York
People: NY Fed names new chief information officer
Pamela Chase Dyson to lead tech group; Richard Clarida sworn in; EBA appoints board member
New York Fed wraps up final sales of crisis portfolio
Maiden Lane vehicle created in wake of Bear Stearns bailout ultimately turns a profit
US regulators offer supervisory relief in wake of hurricane Florence
Fed and state regulatory agencies will relax supervision so the banks can meet community needs
Tariffs will reduce US exports – New York Fed
Higher producing costs likely to reduce competitiveness of local production, article says
New York Fed publishes nowcasting code
Matlab code for estimating a dynamic factor model now available in online repository
People: China names new vice-governor
China appoints Liu Guoqiang as vice-governor; MAS establishes governance council, Ireland’s central bank gets new director for supervision; and more
NY Fed’s Potter: technical tweak helped avoid breaching target range
Effective federal funds rate has been rising in the target range, but head of markets says he does not see much evidence of rates becoming more sensitive to reserves balances
NY Fed paper: ‘replacement hiring’ affects productivity wage gap
Replacement hiring can explain much of the gap between wages and productivity, authors say
NY Fed research ‘stress tests’ household balance sheets
Authors say it is “crucial” to track household leverage; vulnerability in the US “remains elevated”
Dudley says more effort needed in modelling financial factors
“We were nowhere. Now we’re probably at the first or second grade,” says outgoing New York Fed chief
Dudley calls for ‘aggressive action’ on benchmark reforms
Failure to move to new framework before 2021 could create “large-scale disorder”
Housing inequality creates credit inequality – NY Fed’s Hirtle
Older people with less need of credit have seen the value of their collateral rise more
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
US consumer inflation expectations are on the rise – NY Fed
Median one-year price rise expectations increase to 2.98% in April from 2.75% in March
Reducing the regulatory burden
Former Federal Reserve Bank of New York senior vice-president Kenneth Lamar discusses risk‑based reporting, its challenges and whether fintech will help reduce the regulatory burden.
Few US low-wage workers progress in labour market – Fed research
Only 5% had a better job within one year, and the group is more likely to become unemployed
US steel tariffs likely to damage labour market – NY Fed research
Exporters who need steel imports face higher input costs, possibly leading to lower employment
Dudley backs floor-based system for setting monetary policy
New York Fed chief highlights drawbacks of pre-crisis corridor system
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Student debt becomes a bigger threat to US financial stability
The debt has surpassed auto loans and credit cards, and now only trails mortgages
New York Fed launches rates replacing US Libor
New rates are calculated using actual interbank transactions
John Williams named president of New York Fed
Candidate proved contentious on diversity grounds, but brings deep macroeconomic experience
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials