Central Banking
Bank of Israel study reviews success of new pension scheme
Bank of Israel paper shows evidence of rise in savings contributions in response to new pension law in Israel
IMF study on financial frictions in EMEs
Fund paper shows developing economies are more exposed to financial frictions than emerging markets
Noyer expects euro area growth to weaken
Banque de France governor Christian Noyer says euro area growth may slow in coming quarter due to scars left on economies from crisis
NY Fed’s Dudley urges collaboration in tackling global imbalances
New York Federal Reserve president William Dudley says imbalances in growth between United States and emerging economies are unsustainable in long term
Sweden’s Öberg calls for Riksbank to merge with regulator
Riksbank first deputy governor Svante Öberg says merging central bank with Finansinspektionen will aid task of safeguarding financial system
Private sector involvement in Greece may be harmful: ECB’s Bini Smaghi
European Central Bank executive board member Lorenzo Bini Smaghi says private sector involvement is fraught with complications
Central Bank of Iceland paper on exchange rate regimes
Central Bank of Iceland study says floating exchange rate regimes provide little benefit to small, rich economies like Iceland
San Francisco Fed paper on merits of leaning against asset prices
San Francisco Federal Reserve study makes case for monetary policy to lean against asset price movements
Prudential rules ease procyclicality of bank lending: IMF paper
Fund study says rules to lower capital adequacy ratios offer relief to banks and distressed borrowers facing shocks
Bafin chairman pans European Banking Authority stress tests
European Union’s bank stress standards lack “legitimacy”, according to top German regulator
UK lawmakers highlight lack of market expertise on FPC
Treasury Committee labels Alistair Clark an “insider”; calls on Michael Cohrs to make more public pronouncements
Basel III liquid asset definitions loosened in CRD IV draft
Draft legislation seen by Risk contains less prescriptive language on what counts as an eligible liquid asset under the liquidity coverage ratio
Next year's IMF/ World Bank meet no longer in Cairo
IMF and World Bank Group to hold 2012 annual meetings in Japan; plans to meet in Egypt abandoned after unrest in the country
BIS data highlights US banks’ exposure to Greece
Bank for International Settlements data reveals United States’ heightened “potential exposure” to Greek default
Strauss-Kahn follows through with not-guilty plea
Ex-head of the IMF sticks to earlier rebuttal of charges and enters not-guilty plea; trial could take months
FDIC board creates Advisory Committee on Systemic Resolutions
New committee will advise on resolution of banks once categorised as "too big to fail"; first meeting later this month
Diamond abandons Fed ambitions
Peter Diamond pulls out of race to become the next Federal Reserve governor; says “shortcomings” in confirmation process and “fundamental misunderstandings” in conducting monetary policy to blame
ECB opens Brussels office
European Central Bank opens small Brussels office; staffed by only two people
Exit strategy communication key: Philly Fed’s Plosser
Philadelphia Federal Reserve president Charles Plosser says clear communication of Federal Reserve policy will be essential to exit strategy
Japan earthquake caused widespread risk retreat
Bank of International Settlements Quarterly Review June 2011 says Japan earthquake caused widespread but brief investor retreat to less risky assets
González-Páramo calls for greater transparency of rating agencies
European Central Bank executive board member José Manuel González-Páramo says regulators must ensure greater disclosure of rating agency processes
ECB conference reviews crisis measures
European Central Bank Sixth ECB Central Banking Conference contributions highlight policy approach during financial crisis
Greece agrees new package
Authorities strike deal over Greece; extensive privatisation programme to commence shortly
US banks at risk of downgrade following Dodd-Frank
Credit rating agency Moody’s launches review of eight banks’ ratings after legislation makes uncertain implicit promise of government support in event of failure