Central Banking
Bank of Finland study finds positive innovation channel
Bank of Finland study finds positive effect of finance on growth through efficient technological innovations
Calomiris to join Bank as Houblon-Norman fellow
US academic Charles Calomiris set to spend three months at the Bank of England, to examine development of Bank’s lender-of-last-resort role
FOMC 2005 transcripts: Bernanke, Hoenig called for long-term inflation targets
Federal Reserve chairman Ben Bernanke and Kansas Fed president Thomas Hoenig shown making a case for inflation targets in 2005 central bank meetings
Swiss authorities ink deal on crisis collaboration
Swiss National Bank, finance ministry and regulator sign memorandum on supervisory cooperation
BoJ study identifies capital inflow feedback loop
Bank of Japan Review study says foreign exchange intervention in emerging markets may have unintended consequences on capital flows
Bank of Finland research on moral hazard effect of collateralised loans
Bank of Finland study examines effects on moral hazard when collateral values fluctuate
NY Fed paper investigates decline in adjustable-rate mortgage
New York Federal Reserve says supply-side factors explain decline in market share of adjustable-rate mortgages in recent years
Boston Fed’s Rosengren parries inflationary fears
Boston Federal Reserve president Eric Rosengren says latest quantitative easing programme is not inflationary
Euro counterfeits drop by 5.9%
European Central Bank statistics show 364,000 forged euro banknotes recovered in second half of 2010; €50 note remains most popular bill to fake
CIC to open Toronto office, wants more funds: reports
China Investment Corporation selects Toronto as location of first foreign office; CIC senior executive demands more capital from Beijing
Estonia joins third central bank gold agreement
Bank of Estonia signs agreement limiting central bank gold sales to 400 tonnes a year up to August 2014; follows country’s entry to the eurozone
SNB expects $21.7 billion loss for 2010
Swiss National Bank says loss relates to foreign currency positions; says loss highlights need for independent central banks to have capital cushion
Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk
Anglo chiefs approached me before crash: ex-central bank director
Former Central Bank of Ireland director Alan Gray says chairman and chief executive of now state-owned Anglo Irish Bank approached him over liquidity stress in lead up to government guarantee, crisis
Political instability hampers growth: IMF research
Fund study shows political instability significantly reduces economic growth
Basel bids to ensure all regulatory capital can be used to buffer losses
Basel Committee on Banking Supervision sets out rules to ensure instruments deemed Tier I and Tier II capital can be used to soak up losses; instruments issued after January 2013 must comply
Research underestimates probability of reaching zero bound: San Francisco Fed
San Francisco Federal Reserve paper says probability of hitting the zero lower bound of interest rate is often underestimated in economic research
Trichet predicts positive momentum to carry through to 2011
European Central Bank president Jean-Claude Trichet says euro area economy outlook for 2011 expected to remain positive, identifies some downside risks
Central Bank of Barbados - Annual Economic Review 2010
Central Bank of Barbados’ Annual Economic Review 2010 looks at tourism-led recovery in Caribbean state
PBoC allows Chinese firms to invest renminbi abroad
People’s Bank of China to allow domestic banks to settle investments abroad in renminbi as part of cross-border investment pilot
Bank of Japan to revamp website
The Bank of Japan to launch new site at the end of the month; says changes will make information more easily accessible
Gold could hit $1,600 in 2011, say analysts
Commentators say investor appetite for the precious metal will continue to soar as concerns over US economy, eurozone sovereign debt issues, persist
Barbados’s Worrell on social impact of unemployment
Central Bank of Barbados governor DeLisle Worrell describes employment challenges of everyday Barbadians
EBA plans new round of stress tests
New European Banking Authority announces second round of stress tests for European banks at opening meeting