Federal Reserve System
Shirakawa cautions on carry trade
Bank of Japan’s governor becomes latest official to warn on dangers of low rates in advanced economies; notes balance-sheet adjustments will impact efficacy of monetary policy
US policy threatens emerging markets: China’s top regulator
Chairman of China’s regulator says weak dollar and low rates are dangerous to the global economy; echoes recent comments from top Japan, HK officials
NY Fed’s Dudley on improving tri-party repos
New York Federal Reserve’s William Dudley says Fed wants to make tri-party repo system more stable
HK’s Tsang fears the Fed
Hong Kong’s chief executive says Federal Reserve is stoking next bubble through near-zero interest rates
Monetary policy impacts effect of fiscal aid
Kansas City Federal Reserve studies the interactions between monetary and fiscal policy
Fed bans ATM, debit-card overdraft fees
Federal Reserve says banks will no longer be able to charge overdraft fees for ATM and debit-card payments
Woodford unveils new model for transmission mechanism
New York Federal Reserve paper co-authored by Michael Woodford introduces a new model for monetary policy which considers the effects of unconventional policy
Senator calls for Fed’s powers to be cut
Chris Dodd, head of the Senate Banking Committee, submits bill demanding reduction in Fed’s supervisory ambit; calls for one overall regulator
Fed presidents focus on commercial property fears
Atlanta and San Francisco Federal Reserve chiefs echo William Dudley’s warning on commercial real estate
Fed’s Tarullo warns against another Glass-Steagall
Fed governor Daniel Tarullo says split between investment and commercial banking would do little to abate too-big-to-fail problem
Fed poll positive on lending standards but demand still weak
The Federal Reserve’s loan officer opinion survey shows demand for loans in most areas is still weak ; proportion of banks tightening lending standards declining
Rate decisions this week
The majority of central banks that reviewed rates this week made no change, pointing to the need for a sustainable recovery
On the record: Paul Volcker
The former Fed chairman tells Congress that the central bank must take the leading role in regulating the financial system
Fed remains guarded on rate hike
Federal Open Market Committee keeps key rate and tone unchanged; caps agency debt purchase programme at $175 billion
Too-big-to-fail matters for macroprudence
Federal Reserve Board research looks at the dynamics of spillover effects of the global financial crisis to Asia and Pacific region
Geithner’s scorecard for the resolution plan
Timothy Geithner, US Treasury Secretary, sets out five indicators to measure the success of the resolution plan
Four steps to improve international cooperation: Fed’s Kohn
Fed vice-chairman Donald Kohn calls for a more coordinated global response to the crisis
Fed looks to curb risk with wage rules
Federal Reserve says proposals aimed at ensuring wages will not undermine safety and soundness of banks
Bernanke outlines regulatory agenda
Fed chairman says comprehensive reform requires action from Congress
Plosser attacks Fed liquidity support
Philadelphia Federal Reserve president says central bank has gone “far beyond” Bagehot’s lender-of-last-resort tenet, should accept nothing but Treasuries
Fed names new supervision head
Fed names Patrick Parkinson as Roger Cole’s replacement
FOMC sees slack subduing inflation
Federal Open Market Committee says output gap will persist
Credit-card discrimination hard to prove
Federal Reserve Board finds no evidence of credit-card companies discriminating against minorities.
Communications research key: Fed’s Kohn
Fed vice chairman reviews development of monetary policy literature, pointing out successes and areas where further work is needed