Central Banking Journal
HKMA primed for mobile payments surge
The Hong Kong Monetary Authority is enhancing the legal and supervisory framework needed for the safe development of retail payments for its echnology-savvy population
Bank of Lithuania’s Vitas Vasiliauskas on Europe’s push to banking union
As Lithuania takes on the presidency of the European Union, Bank of Lithuania governor Vitas Vasiliauskas speaks with Daniel Hinge about the efforts to end the euro crisis
New central bank policy mandates could cause vicious feedback loops
The trend for central banks to take on mandates for prudential policy in addition to monetary policy could cause dangerous feedback loops in the absence of a well-defined risk appetite
The Bretton Woods transcripts: debate about the World Bank and the BIS
Andrew Rosenberg highlights the secondary importance of negotiations to create the World Bank and cover ‘other discussions’ as well as Norway’s objections to having the BIS once the IMF was founded
Book notes: The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White and the Making of a New World Order
A fscinating account of the Bretton Woods conference from the point of view of its two main players: John Maynard Keynes and Harry Dexter White
Book notes: Bank of Finland 200 Years: Parliament’s Bank part II
An account of the central bank's dramatic history from December 1939 to the present day
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
Draghi says ECB has not compromised its ‘ordoliberal' principles
ECB president tells Stanley Fischer farewell conference that the ECB's LTRO and OMT operations are 'controlled' and 'necessary for the pursuit of price stability'
Bank of Israel’s outgoing chief, Stanley Fischer, on the challenges of central banking
Stanley Fischer believes his work as governor of the Bank of Israel is done. He tells Chris Jeffery about the reform process in Israel as well as the challenges facing the world economy and the IMF
Central Bank of Trinidad and Tobago’s Jwala Rambarran on reform in the Caribbean
Jwala Rambarran has not yet celebrated his first anniversary as governor of the Central Bank of Trinidad and Tobago – but is already making a splash, writes Tom Bowker
Central banks adopting social media at different paces, finds CBJ study
A new Central Banking journal study shows that institutions around the world are adopting very different approaches in their deployment of social media techniques
FDIC’s Thomas Hoenig on bank separation, safety nets and Basel III
Hoenig tells Christopher Jeffery that Basel III is flawed, universal banks require legal separation, financial safety nets need cutting and monetary policy should move to non-zero interest rates
Central Bank of Iceland’s Már Guðmundsson on crisis management and capital controls
Lessons learned from Iceland’s crisis resulted in the IMF changing its rulebook on the use of capital controls. But the country’s change in fortunes is no ‘miracle’ (scroll down for interview).1
The SSM, banking union and the future of prudential policy in Europe
The establishment of a single supervisory mechanism under the ECB will help mitigate a number of threats to Europe’s financial system, writes Ignazio Angeloni. But still more needs to be done
The Eurosystem has done enough; time for politicians to choose
The Eurosystem has done enough to support the eurozone, says Jens Weidmann, who believes the euro area should either accept fiscal union or allow sovereigns to default
The changing structure of the euro money market
Systematic reports on the European secured and unsecured money market would represent a powerful tool for central bankers despite the current distortions caused by Eurosystem liquidity operations
The case for nominal GDP targeting by central banks
Central banks have experimented with new monetary policy approaches, with nominal GDP targeting the latest idea to be put forward. Richard Werner looks at the empirical data supporting such a policy
China’s new financial and regulatory architects
Keeping Zhou Xiaochuan as governor of the People’s Bank of China will provide policy stability in the world’s second largest economy. But there are plenty of changes elsewhere
Communicating uncertainty in economic forecasts
The way central banks and economists communicate uncertainty in macroeconomic forecasts differs around the world. Charles Manski contrasts the approaches of the Federal Reserve and Bank of England
Bank Negara Malaysia’s approach to developing a financial inclusion index
Malaysia’s index of financial inclusion was created as a first step to increasing the depth of financial participation in the country, but more data is needed, says Zarina Abd Rahman
Bretton Woods Transcripts reveal insights into IMF quotas and governance
In the second of a three-part series, Andrew Rosenberg writes about how the negotiators at the Bretton Woods conference in 1944 spent much of their time deliberating quotas and governance for the IMF