United States
Debit card fraud losses rise 13.1% in two years in the US, report shows
Fraud losses associated with debit card transactions in the US rose to $1.57 billion in 2013, according to a Fed report, but the amount lost per transaction was relatively stable
Mortgage credit subsidies 'disastrous for the poor'
Credit subsidies a ‘short-sighted palliative for addressing economic inequality', argue leading academics in Central Banking Journal article
Carney says 'striking' labour market differences will prompt ‘less synchronised' monetary policy
The Bank of England governor addresses UK wage conundrum; argues US is in worse position as its headline unemployment rate is 'much better than the details'
New York Fed report reviews risk-return trade-off between financial conditions and financial stability
Paper focuses on vulnerabilities affecting trade-off, including pricing of risk and leverage; discusses how macro-pru policies can counteract vulnerabilities
Final liquidity rules issued for biggest US banks
‘More stringent' liquidity coverage ratio will come into effect in January 2017; Fed adopts final rule on supplementary leverage ratio, asks for input on swap margin rules
US monetary tightening could have ‘long-lasting impact' in Peru, says IMF paper
Investment slowdown in China and US policy ‘normalisation' would leave dents in country's dollarised economy, study finds
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Unconventional monetary policy has heightened medium-term risks to banks, IMF paper finds
No evidence that unconventional monetary policies has ‘helped' banks, according to paper; finds deterioration of medium-term bank credit risk in US, UK, and the eurozone
New York Fed president suggests Dodd-Frank has made investors ‘more skittish'
William Dudley notes ‘extraordinary interventions' will be more difficult to undertake, potentially destabilising the financial system by unnerving investors
Fed survey says 40% of US households still struggling to make ends meet
A third of respondents said they were ‘somewhat or much worse off' than before the financial crisis, while a fifth are spending more than they earn
New York Fed study finds Puerto Rico emigration has not led to 'brain drain'
Island's population has been falling for a decade due to emigration, but share of college graduates has increased as low-skilled workers are leaving in greater numbers
Adjusted calculation of US employment-to-population ratio signals return to pre-crisis level
Atlanta Fed paper uses micro-data to account for individual characteristics and probability of labour force participation; finds ratio has regained pre-recession level of nearly 63%
Fed's Plosser dissents over unchanged forward guidance in face of US 'rebound'
Janet Yellen sees second dissent since taking the Federal Reserve chair in January; FOMC language suggests members are becoming more sanguine about economic trajectory
Credit cards account for more than half of all payment cards in the US, report shows
Credit cards accounted for 334 million of the 776 million ‘general purpose cards' used in 2012; Over 250 million mobile payments made using mobile wallet application, Fed study finds
IMF calls on Fed to formally explain policy normalisation strategy
IMF stresses need for 'greater clarity' on how Fed intends to exit accommodative policy stance; warns use of Fed funds rate could 'pose challenge' amid balance sheet reduction
IMF paper attempts to pin down output gap
Members of the Fund's European department build new models incorporating financial frictions to estimate the output gap in the US during the Great Moderation and beyond
Price competitiveness strong in the US but weak in China, Bundesbank paper finds
Proposes ‘simple productivity approach-based' method for calculating a ‘consistent set of multilateral indicators' of price competitiveness
Fed levies record fine on sanctions-busting BNP Paribas
The Fed's fine of $508 million is part of a massive $9 billion fine for the French-based banking group for dealing with Iran, Cuba and Sudan in violation of US sanctions
NY Fed’s Dudley calls on Puerto Rico to improve financial reporting
‘Unique status’ means troubled Caribbean economy is not regularly surveyed by public agency like the US Census Bureau or the IMF
Fed tapers another $10 billion as US growth rebounds
Starting in July, bank will buy $35 billion of extra assets each month; taper finished by year's end at current pace
'Intra-firm borrowing' reduces liquidity risk at 'global' US banks, say NY Fed staff
New York Fed staff report finds 'fundamental differences' between banks with and without foreign affiliates
Fed overhauls collateral requirements for discount window
The changes, including separate requirements for fixed-rate and floating-rate loans posted by depository institutions, could make it harder to obtain central bank liquidity
US overtakes Taiwan as offshore RMB clearing centre
The value of RMB payments between the US and China jumped 229% in the year to April 2014, helping the US overtake Taiwan as the third-biggest offshore RMB clearing centre