Central Banking
IMF warns of 'full-blown panic' eurozone break-up would cause
Latest IMF World Economic Outlook discusses possibility of a break-up of the eurozone; says disorderly exit of one member country would have untold knock-on effects
Robert Pringle's Viewpoint: The Fed, the euro and the IMF
Caruana and Shirakawa offer timely warning on the limits and dangers of loose monetary policy; more reform required in Europe
Central Bank of Iran reacts to major debit card security breach
Central Bank of Iran urges debit card users to change personal identification codes after hacker publishes security details of millions of accounts on internet
Research discusses elasticity of non-oil tax revenues in Trinidad and Tobago
Central Bank of Trinidad and Tobago working paper says future growth of non-oil tax revenue in the country should come from indirect taxes
Bank of Colombia research studies intraday liquidity risk regulation
Colombia central bank working paper finds structural shifts in the intraday liquidity market are the result of evolution rather than market shocks
Sarb working paper discusses rand exchange rate
South African Reserve Bank working paper studies factors that influence the exchange rate of the rand as a free-floating currency
G-30 report emphasises importance of qualitative aspects to supervision
Group of 30 working group on corporate governance says qualitative as well as quantitative measures are required to enhance governance
Reserve managers cling to the dollar but shun the euro, CBP survey finds
Central banks have reduced their euro reserve holdings and looked to diversify into non-traditional currencies due to ongoing eurozone tumult finds annual Central Banking Publications survey
CPSS and Iosco set out central bank responsibilities for FMIs
CPSS and Iosco issue new standards for financial market infrastructures; include core responsibilities for central banks and other supervisory bodies
Bernanke defends Fed’s response to financial crisis
Fed chairman defends actions taken before and during global financial crisis; offers justification for Fed response to struggling systemically important firms
PBoC decision to widen trading band welcomed
Chinese central bank announces “enlarged” floating band of renminbi trading prices against the US dollar; analysts and IMF welcome decision
Bank of Korea to invest in renminbi in 2012
Head of reserve management Heung Sik Choo confirms Bank of Korea will make first investments in Chinese renminbi this year
Sarb investigation finds low-quality proof Krugerrand coins
Investigation into SA Mint Company uncovers low-quality proof Krugerrand coins may have been casted between April 2011 and May 2011; dealers offered chance to return coins
Fed research examines supply-side changes in US housing market
New York Fed staff paper studies impact of supply-side changes to US housing market on the creation of a house price bubble
Prasarn confirms Thai participation in Chinese markets
Bank of Thailand governor hails economic links between China and Thailand as central bank opens first Chinese office
Riksbank research highlights significance of output gap for policy makers
Swedish central bank working paper explores output gap as a tool for measuring economic activity; concludes that policy makers should focus more on output gap in forming monetary policy
RBI deputy governor emphasises role of state regulators in forex markets
H R Khan says market participants must work with supervisors and regulators rather than pursue self regulation
Reserve Bank of India writes to banks about electronic payments
Indian central bank asks banks to accept electronic transfers for credit to loan accounts, following complaints from customers
Basel Committee highlights resource challenges in stress testing
Basel Committee on Banking Supervision releases peer review of implementation of stress-testing principles; reveals resource concerns at both banks and supervisory level
Riksbank establishes financial stability communication policy
Swedish central bank publishes new financial stability communications policy; supplements the general policy in place at the Riksbank
Plosser says more 'can and should be done' to aid Fed transparency
Philadelphia Fed president urges the Federal Reserve to do more on transparency; says a quarterly monetary policy report should be published
Fed’s Dudley airs fears over economic 'headwinds'
New York Fed president says rising gasoline prices and housing market weakness are significant headwinds to economic growth
BoJ’s Miyao says deflation 'overriding issue' in Japanese economy
Bank of Japan policy board member says if the central bank pursues its monetary policy solely to meet inflation target, it would harm the development of the economy
BIS working paper focuses on Asian credit booms
Bank for International Settlements research finds international credit booms foster domestic credit surges in developing Asian economies