Central Banking
BoE’s Haldane highlights increasing risks from high-frequency trading
Bank of England executive director of financial stability Andrew Haldane outlines policy measures to reduce systemic threat posed by high-frequency trading
New lending rules for Chinese SMEs overlook deeper structural issues in credit market, say analysts
China Banking Regulatory Commission introduces new measures to boost lending to small businesses; analysts say real problems lie in regulatory framework that favours the state sector
Fed's Hoenig warns of risks from late rate rise
Kansas City Federal Reserve president Thomas Hoenig urges Federal Open Market Committee to begin moving out of very accommodative monetary stance
T2S framework agreement delayed due to four remaining issues
There are four remaining issues that are delaying the forthcoming Target-2 Securities (T2S) framework agreement, according to an industry leader from the European Central Bank (ECB).
Regulators may not have authority to delay Dodd-Frank, warn lawyers
Some lawyers claim the CFTC and SEC may not have power to delay enforcement of the Dodd-Frank Act – a grey area that could lead to disputes
BIS’s Caruana calls on central banks to lengthen policy horizon
Bank for International Settlements general manager Jaime Caruana says monetary policy strategy should be adjusted to contain build-up of financial imbalances
Deficits are not always bad: RBA’s Debelle
Reserve Bank of Australia assistant governor of financial markets Guy Debelle says current account deficits are not always bad and do not necessarily equate to an imbalance
Standard monetary policy rules don’t apply in liquidity traps: Dallas Fed
Dallas Federal Reserve study shows monetary policy should be complemented with fiscal policy in order to shift aggregate demand out of a liquidity trap
Costs to bank funding not fully passed on to markets: Norges Bank paper
Norges Bank study finds evidence of incomplete pass-through of banks’ funding costs on deposit rates in Norway
ECB rate hike highlights continued divergence with BoE
European Central Bank raises interest rates by 25 basis points as Bank of England holds for 28th month in a row; more expected from Frankfurt in 2011
China’s July rate hike will be last for 2011, say analysts
Analysts say slowdown in growth suggests People’s Bank of China will not hike rates beyond Wednesday’s 25-basis-point rise
Islamic banks' return on deposits comove with conventional banks: IMF paper
Fund study says returns on deposits of Islamic banks in Turkey and Malaysia exhibit similar trends to conventional banks
Bank of Korea – Annual Report (2010)
Bank of Korea 2010 Annual Report highlights growing inflationary concerns in South Korea
France’s Noyer assesses economic implications of Basel III
Banque de France governor Christian Noyer says implementation of Basel III designed to reduce economic impact of tougher regulation
NY Fed paper identifies labour slack threshold
New York Federal Reserve study says relationship between labour market slack and inflation is non-linear
Lagarde calls for greater legitimacy at Fund
Recently appointed IMF managing director Christine Lagarde lays out preliminary strategy for Fund; says legitimacy and diversity will play key role in future
RBI asked to regulate entire microfinance sector
Reserve Bank of India to receive powers to regulate entire microfinance sector under proposed bill
The new environment facing sovereign investors
Post-crisis, SWFs meet with less official resistance to investment, but markets are trickier and stakeholders no less demanding, writes Donghyun Park
Portugal downgrade reignites sovereign debt fears
Moody’s downgrades Portugal’s credit rating four notches to junk status; decision sends shudders through European markets as contagion spreads across periphery
Hungary’s Simor under fire over financial loss
National Bank of Hungary governor András Simor defends management record after predecessor criticises $224 million loss
Uganda launches early retirement scheme
Two-hundred and fifty employees at the Bank of Uganda have retired as the retirement age is reduced to 55 years old
Norway SWF adds $1 billion stake in Paris to portfolio
Norwegian Government Pension Fund Global takes half-share in seven downtown Paris properties; move follows $700 million investment in London’s Regent Street
Romania joins Target2
National Bank of Romania moves step closer to euro adoption with launch of national component of large-value euro payments system
Flight-to-safety common feature of crises: BIS paper
Bank for International Settlements study shows banks' flight-to-safety is a common feature in crises; says central banks were able to provide more liquidity this time round