Federal Reserve System
Dallas Fed calls for a return to 'traditional' system of smaller banks
Special report advocates limiting the size of banks; champions a return to less public support and greater market discipline
Dallas Fed president demands end to 'too-big-to-fail'
Richard Fisher rejects Dodd-Frank provisions for too-big-to-fail institutions; urges rolling back of safety net and downsizing of banking institutions
Fed’s latest Beige Book finds post-hurricane rebound
States that bore the brunt of Hurricane Sandy report improved conditions in all but the hardest-hit areas, as ‘modest or moderate’ growth continues; unemployment remains stubborn, however
Fed presidents back unemployment offensive
Minneapolis and Boston Fed presidents call for aggressive monetary policy to tackle lethargic unemployment rate
Bernanke champions FOMC policy and Fed independence
Ben Bernanke, chairman of the Federal Reserve, gives his support to the ongoing accommodative policy of the FOMC; stresses importance of central bank independence
Further dispute among Fed presidents
Three more Federal Reserve bank presidents deliver their verdicts on the FOMC’s accommodative policy stance
Fed presidents clash over monetary policy
Presidents of the Federal Reserve banks of Kansas City and Minneapolis offer conflicting critiques of FOMC policy stance
Krugman adds lustre to $1 trillion coin plan
Proposal to mint a $1 trillion coin to avoid 'fiscal cliff' in US wins Krugman backing and Republican opposition
Minneapolis Fed research challenges banks’ reliance on short-term debt
Policy paper calls short-term funding as a foundation for efficient payments an ‘artefact of a bygone era’, and suggests reforms to banks’ funding models
Fed’s Yellen sizes up challenges in derivatives reforms
Federal Reserve vice-chair says initial margin requirements for bilateral derivatives trades are necessary but could place a heavy burden on the industry
Fed could stop asset purchases ‘well before end of 2013’
FOMC members express concerns over costs of quantitative easing as the Fed’s balance sheet expands; most members see purchases ending within a year
US thrashes out partial solution to fiscal cliff
US government reaches agreement that postpones and reduces fiscal cliff; measures unlikely to have significant impact on Fed policy, some observers say
Fed research asserts ‘potency’ of quantitative easing
Working paper finds large-scale asset purchases by the Federal Reserve equivalent to a cut in the Federal funds rate of more than 3%; estimates are higher than previous studies
Central banks downsize in 2012
Number of central bankers falls by 1,500 to 471,000 in 2012; continues five-year trend of shrinking staff
Fed’s Stein highlights transatlantic risks
Jeremy Stein discusses situations that may lead to a spike in dollar funding costs for European banks operating in the US; says renewed swap lines and new regulation will help
CB.com poll reveals concerns over inflationary impact of QE
Majority of participants believe extraordinary monetary policy measures will cause central banks to overshoot inflation targets
Central banks extend swap arrangements
Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and US Federal Reserve extend temporary US dollar and bilateral swap agreements
The ghost at the IMF’s Tokyo feast
Robert Pringle looks back at the main themes of the IMF’s annual meeting, which was held in October in Tokyo, and forward to prospects for 2013
Racial equality boosted by deregulation in US, paper says
Banking sector policies that facilitated competition helped increase the black population’s relative wages in the US, but only in racially biased states
Fed to extend QE by $45bn per month
Federal Reserve gives equity markets a lift by unveiling an additional $45 billion of quantitative easing; adopts numerical thresholds
Central bank policies fuel asset price rise, says BIS
BIS quarterly review says monetary easing is helping to push investors into riskier assets despite a weakening global outlook.
Fed appoints new chairmen to half of district reserve banks
Federal Reserve Board of Governors names six new chairmen and five deputies to district banks’ board of directors
Fed’s Stein highlights benefits of mortgage-backed QE
Jeremy Stein says purchasing mortgage-backed securities provides a greater "kick" for corporate investment than Treasury securities
Fed’s Tarullo outlines update to regulation of foreign banks
Rules for foreign banks operating in the US need to be strengthened, but should not be so harsh as to give domestic banks a competitive advantage, says Daniel Tarullo