Central Banking
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
BoE boosts QE by £50 billion
Bank of England increases the size of its Asset Purchase Programme to £325 billion as forecasts show inflation in the UK is likely to undershoot its target in the medium term
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
SNB announces year-long delay on new banknotes
Problems with suppliers mean the new Swiss banknotes will not enter circulation until the end of 2013 at the earliest; latest hiccup in long process of renewing the currency
Ukraine deputy governor resigns
National Bank of Ukraine quietly replaces Volodymyr Krotiuk as deputy governor; offers no explanation as director of financial department takes over the role
IMF paper captures spillover effects from tougher capital rules
Fund study shows international spillover effect from higher capital requirements typically account for 20-25% of the total impact on output
Canada’s Macklem supports greater autonomy for FSB
Bank of Canada senior deputy governor, Tiff Macklem, says expansion of resources at Financial Stability Board will enable it to better co-ordinate, monitor and assess financial reforms
Central Bank of Ireland searching for new headquarters, says Honohan
Central Bank of Ireland governor Patrick Honohan says central bank is looking to move from headquarters at Dame Street tower, but expects to retain building despite unwelcome presence of protesters
Emerging markets benefited from solid balance sheets, says BIS paper
Bank for International Settlements study says Latin American and Asian countries experienced more sustainable levels of credit growth due to healthy balance sheets pre-crisis
EU vows fresh sanctions against Syrian central bank
European Union due to impose freeze on Central Bank of Syria's assets as part of efforts to strengthen sanctions against the Syrian government
Former BoE policy-makers discuss QE and financial repression
Andrew Sentance joins Fathom Monetary Policy Forum for the first time; joins Rachel Lomax and Ian Plenderleith to discuss quantitative easing and financial repression
EPC outlines new models for mobile payments
European Payments Council requests feedback on new model for contactless and remote mobile payments in Europe; focuses on the preferred type of secure-elements technology used in mobile phones
Malaysia and China extend currency swap arrangement
People's Bank of China and Bank Negara Malaysia renew and expand currency swap arrangement, designed to facilitate greater bilateral trade and investment
Norges Bank announces end date for public to exchange old banknotes
Norwegians have until November 2012 to exchange old series of banknotes before they are rendered worthless, 11 years after new currency series was introduced
The Fed’s flawed PCE inflation targeting regime
The Fed’s move to adopt inflation targeting (IT) was long expected. But economists Peter Warburton and Joanna Davies say the US central bank will be targeting inflation on its own terms
Rapid credit growth in Asia driven by domestic factors, says IMF paper
International Monetary Fund study says domestic monetary policy can play a pivotal role in managing credit growth in emerging Asian markets
Renminbi restrictions pose obstacle to internationalisation of currency, says BoJ’s Nishimura
Bank of Japan deputy governor Kiyohiko Nishimura says renminbi internationalisation is ‘implausible’ without significant capital-flow deregulation
IMF can help with access to safe assets and global liquidity, says ECB’s Cœuré
European Central Bank executive board member Benoît Cœuré says IMF can help address the shortage of safe assets and global liquidity by borrowing and lending global excess reserves
Fed's new monetary policy strategy is "flexible inflation-targeting", says Bullard
Federal Reserve Bank of St Louis president James Bullard says putting an explicit inflation target together with a sensible stabilisation policy is flexible inflation-targeting
RBA surprises markets with rate hold
Reserve Bank of Australia policy board leaves cash rate unchanged despite market expectation of 25-basis point cut in rates due to weak external outlook
SNB’s Jordan pledges to maintain Swiss franc’s currency floor
Swiss National Bank acting chairman, Thomas Jordan, preserves commitment of Sfr1.20 floor to euro; analysts expect the central bank to defend but not raise floor
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Tri-party repo taskforce to disband without delivering key reform
The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes
BoE’s Salmon urges regulators to resist watering down reforms
Bank of England executive director Chris Salmon says regulators must withstand pressure to water down reforms and instead provide longer transition periods