Australia
RBA paper supports CCP interoperability
Researchers weigh the benefits of increased netting across linked central counterparties against the potential costs arising from the bilateral exposures each link creates
RBA and government set out rules of engagement
Update to ‘statement on the conduct of monetary policy' says Australian government recognises the Reserve Bank's need for a strong balance sheet; RBA will pay no dividend to the government this year
Australian government pours $8.5bn into RBA's reserves
New Australian government blames dwindling reserves on predecessor's demand for ‘extraordinary' dividends; records show losses were incurred due to currency movements in 2010–11
RBA proposes Australian Payments Council to strengthen industry coordination
Reserve Bank of Australia and industry body Australian Payments Clearing Association launch consultation on establishment of new payments council
RBA’s Ellis warns against regulatory ‘monoculture’
Reserve Bank of Australia’s financial stability head says regulatory consistency is ‘important’ but should not result in identical business models that could all be vulnerable to one particular shock
RBA mulls further rate cuts as dollar keeps rising
Minutes of the latest monetary policy meeting show concerns remain over strong Australian dollar; new record low interest rate remains possible
RBA's Stevens complains of strong currency as rates stay on hold
Statement indicates frustration with Australian dollar strength as rates remain at 2.5%; analysts eye fundamentals approaching possible cut in November
Hong Kong and Australia see risks in low interest rates and Chinese NPLs
Impact of any shift in the yield curve on banks' balance sheets ‘may not be small', according to HKMA; RBA urges lenders to maintain prudent risk appetite as rates remain low
Australian sovereign bond market infrastructure developments analysed
Reserve Bank of Australia article provides an overview of the CBS market and assesses recent changes in the market infrastructure
RBA looks to exchange rate
The Reserve Bank of Australia keeps the door open for further rates cuts but emphasises that a weaker currency ‘would be helpful’ in boosting demand
People: Stanley Fischer joins US think-tank; Hungarian central bank official moves to EIB
Fischer takes post at US think-tank after leaving the Bank of Israel; László Baranyay joins the European Investment Bank; sovereign wealth fund managers on the move
RBA quiet on further easing as it holds rates
Reserve Bank of Australia holds its key policy rate at 2.5% and omits earlier guidance on the prospect of an additional rate cut from accompanying statement
RBA payments head hails ‘hub-based’ retail payments platform
Reserve Bank of Australia’s Tony Richards delivers update on country’s new payments platform and the central bank’s work towards a faster settlement system
LCRs in low-liquidity settings lead to big externalities
RBA research paper suggests introducing a liquidity coverage ratio in certain settings leads to large liquidity premiums and pushes the risk-free rate to the floor of the interest rate corridor
RBA to provide A$300 billion for committed liquidity facility
RBA contribution will ‘not materially impact' its balance sheet, says deputy Debelle; banks will pay a penalty rate to access the CLF, which will help them meet Basel III liquidity requirements
RBA expects co-ordination over international clearing mandates
The Reserve Bank of Australia’s Jenny Hancock says move to mandate clearing of G-4 currencies still allows market participant flexibility; stresses importance of international co-ordination
RBA cuts growth forecast and suggests further easing could follow
Reserve Bank of Australia lowers its forecast for December’s growth rate; could follow up this week’s rate cut with another as labour market conditions weaken
Regulators need a ‘holistic' view of the global financial system, says RBA's Debelle
RBA assistant governor Guy Debelle said that limited understanding of how financial reforms interact should not prompt regulators to ‘pick and choose' or delay their implementation
RBA governor hints at additional easing
Glenn Stevens says Australia's inflation outlook may afford some scope to ease policy further if needed to support demand
Incomplete information can lessen the effect of shocks, paper finds
Australian research finds economic agents unable to tell how permanent a term of trade shock will be, but incomplete information means their reaction to shocks is more cautious
Australia mandates OTC clearing to ensure substituted compliance
Global regulatory agenda drives switch from market-based incentives to clearing
RBA minutes show board happy to let dollar keep falling
Reserve Bank of Australia monetary policy meeting minutes show the board feels a weaker Australian dollar could rebalance the economy; inflation outlook will allow for more easing
RBA's Debelle hails launch of new finance research project
Deputy governor says Funding Australia's Future will provide a much needed ‘holistic view of how the Australian and global financial system is being transformed' by regulation
RBA governor optimistic economy can negotiate end of investment boom
Glenn Stevens says the Australian economy is facing ‘interesting times' but the right mix of prudent policies and frameworks can give the country ‘confidence for the future'