Central Banking
Risk officers concerned about regulators’ approach to branch liquidity
Some risk officers at international and domestic banks in the Asia-Pacific region are frustrated by the regulatory focus on country-by-country stress tests and a trend towards branch liquidity.
Hungary selects final two external rate-setters
Hungarian parliament selects two external rate-setters to National Bank of Hungary’s Monetary Council, taking it to full capacity
IMF’s Lipsky warns of widening global imbalances
IMF first deputy managing director John Lipsky says advanced and emerging economies must rethink growth strategies to prevent global imbalances from widening
Trichet urges rules-based approach to excessive deficit reforms
European Central Bank president Jean-Claude Trichet calls for use of strict rules to adhere to excessive deficit reduction procedure
New York Fed enters the blogosphere
Regional Fed’s research and statistics group project aims for “direct dialogue” with web users
Fund study on inflation volatility in West Africa
Fund study finds evidence of inflation uncertainty in West African Economic and Monetary Union members that experience high inflation
BoE on China’s growth path
Bank of England study says China may prefer a slower path of adjustment than deficit countries to rebalance global economy
G-7 pledges intervention to stem yen appreciation
Finance ministers and central bank governors say they will cooperate to counter volatility of Japanese currency in aftermath of Tohoku earthquake
FSoC to take ‘flexible approach’ to identifying systemically important financial market infrastructures
US Financial Stability Oversight Council outlines criteria for what qualifies as systemically important financial market infrastructure
Bank’s Bailey stresses importance of forward-looking approach to regulation
Bank of England executive director of banking services, Andrew Bailey, says regulation should be more forward-looking
BoJ split over economic impact of rising commodity prices
Bank of Japan monetary policy minutes show divisions in policy board over seriousness of rising international commodity prices
Korea’s Kim on clash in balance of risks
Bank of Korea governor Choongsoo Kim says combination of strong upside and downside risks makes policy task increasingly challenging
Cyprus’s Orphanides on risk of activist approach to monetary policy
Central Bank of Cyprus governor Athanasios Orphanides warns use of monetary policy to attain objectives other than price stability may be harmful
EBA stress tests: adverse scenario toughened up
Stress tests underway for European banks use harsher adverse scenario and tighter capital rules than tests carried out last year
CLS welcomes new Basel working group on FX settlement risk
Work between central banks and supervisors that was halted at the onset of the financial crisis is now set to continue
Norges Bank back in black; sovereign fund yields 9.6% return
Norway’s central bank makes a profit in 2010 following 2009 loss; sovereign wealth fund boosted by equity gains
S&P downgrades Bahrain
Standard and Poor’s downgrades Bahrain’s credit rating two notches to BBB amid continued political unrest
UK FSA’s Turner puts forth case for more discretion
Chairman of the Financial Services Authority Adair Turner argues discretion vital if regulators are to temper the excesses of credit cycles
Governor of Lesotho’s central bank dies
Governor of the Central Bank of Lesotho Moeketsi Pius Senaoana passes away
Norges Bank - Monetary Policy Report (March 2011)
Norges Bank’s March 2011 Monetary Policy Report says executive board expects earlier rate hike on growing inflationary pressures
Sovereign wealth fund would lessen risk of Dutch disease: Bank of Israel
Excerpt from Bank of Israel’s 2010 Annual Report says establishment of a sovereign wealth fund could mitigate exchange rate risks associated with exporting natural gas
RBI’s Chakrabarty calls for more refined approach to liquidity management
Reserve Bank of India deputy governor Kamalesh Chakrabarty says more sophisticated approach to liquidity management needed to avoid market contagion
Reserve Bank of Australia – Bulletin (March 2011)
Reserve Bank of Australia paper says growth in Australia’s resource sector reflected a sharp rise in global commodity prices
QE crystallised doubts surrounding dollar: US subcommittee speaker
US lawmakers and members of subcommittee on domestic monetary policy say Federal Reserve’s quantitative easing programme has reduced faith in dollar