Australia
RBA’s ability to forecast put on trial
Discussion paper finds RBA forecasts inflation more accurately than GDP growth
Bank safety depends on more than high capital, says RBA’s Ellis
Reserve Bank of Australia’s Luci Ellis says higher capital levels alone do not guarantee a bank is safer than its competitors; depends on business model and risk attitudes
RBA seeks more transparency in securitisation market
Reserve Bank of Australia assistant governor says new information requirements in the securitisation market will enable financial institutions and investors to better assess risk
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
RBA assistant governor discusses impact of OTC repository licensing
Malcolm Edey considers how a licensing regime for trade repositories in OTC markets in Australia will impact the RBA; central banks to focus on market-monitoring, advisory and oversight
Australian CCP cannot delay margin application any further, says RBA
Reserve Bank of Australia says ASX Clear’s deadline for the implementation of equity margins has been extended but cannot be pushed back any further
Reserve Bank of Australia unexpectedly cuts rates
Board of Australian central bank lowers benchmark interest rate following weaker growth outlook as inflation falls further below target rate
RBA stability review offers update on D-Sibs
Reserve Bank of Australia provides update on new regulations for domestic systemically important banks
Reserve Bank of Australia annual report reveals government dividend
Annual report for 2011 details profits of more than a billion Australian dollars, nearly half of which will be paid to the government as a dividend
Australia’s Debelle discusses effect of rate cuts
Assistant governor explains Australian banks’ increased funding costs; says the cash rate has been effective in adjusting lending rates
RBA paper addresses systemic risk in payments system
Research paper from Reserve Bank of Australia analyses systemic risk in RTGS payment system; evaluates Australia’s liquidity-saving algorithms
RBA holds rate as global growth softens
Stable inflation, close to target domestic growth and 'subdued' international economic picture lead Reserve Bank of Australia board to leave benchmark rate at 3.5%
RBA issues new market infrastructure proposals
Australian central bank unveils latest proposals to meet CPSS-Iosco principles for financial market infrastructures; says additional detail provides for ‘greater legal certainty’
RBA paper explains shift in ATM usage
Research paper from Reserve Bank of Australia analyses impact of 2009 ATM reforms; finds increased transparency has driven consumers away from ‘foreign’ machines
RBA makes progress with card surcharging guidelines
Industry calls on Reserve Bank of Australia to provide “more prescriptive” guidance than draft rules issued in June; final version set to be published in October
RBA refutes fresh allegations of bribery cover-up
Reserve Bank of Australia denies claims that a document was hidden from investigators; says governor Glenn Stevens did not mislead a parliamentary committee
RBA minutes show bond yields at “historic low”
Reserve Bank of Australia’s August monetary policy minutes note historically low bond yields; offshore purchases of Australian dollar remain high
Australian payments systems board debates multi-network cards
Introduction of contactless payments reignites discussion surrounding cards issued by banks with debit functionality from more than one payments network; consultation launched
RBA payments manager discusses challenge of Basel III deadline
Reserve Bank of Australia’s Mark Chambers says countries are struggling to implement Basel III framework in time; highlights obstacles facing Australian policy-makers in introducing regulations
RBA reveals brighter growth outlook
Reserve Bank of Australia improves 2012 growth estimate; strong figures offset by uncertainty regarding external developments and possible upward trend for inflation
Australia and Sri Lanka leave rates on hold
Reserve Bank of Australia and Central Bank of Sri Lanka highlight worsening economic conditions around the world as they announce benchmark rates will remain unchanged
RBA minutes show cautious optimism
Minutes of Reserve Bank of Australia’s July monetary policy meeting note strong growth in domestic economy and signs of external recovery despite weakened growth in US, Europe and China
RBA deputy governor warns of regulatory side-effects
Reserve Bank of Australia’s Philip Lowe reviews impact of new financial regulation; says although new rules likely to increase stability, regulators must be aware of possible negative consequences
Australia’s Debelle defends rate cuts
RBA assistant governor says central bank’s rate cuts will have an effect; argues housing market is stronger than many critics believe