Central Banking
Australia’s Stevens warns on dangers of over-regulation
Reserve Bank of Australia’s Glenn Stevens cautions against a return to the “intrusive” regulation seen in the United States in the 1930s
ECB paper: global finance has little impact on Mediterranean
Real economy, not finance, impacts Mediterranean, research published by the European Central Bank posits
HKMA: Australia’s investment-led deficit well balanced
Hong Kong Monetary Authority study shows that current account deficits are not always a bad thing
RBA minutes: inflation hits new low
Minutes of Reserve Bank of Australia’s August meeting show inflation fell to three year low in July
King writes third letter in a row to government explaining above-target inflation
Bank of England governor Mervyn King pens year's third letter to account for inflation of more than one percentage point above target; stresses health of long-term expectations, but economists unsure
Nordic and Baltic regions strike financial stability deal
Eight Nordic and Baltic countries sign Memorandum of Understanding on cross-border financial stability and crisis management
Bank's Haldane: regulators must consider changing shape and structure of finance
Executive director for financial stability at the Bank of England says regulators should reconsider the structure of financial contracts, markets, and institutions
Potential limit on terms could lead to Wellink’s departure
Dutch finance minister proposes a 14-year limit on the tenure of central bank presidents; proposal could bring Nout Wellink’s reign as president of the Netherlands Bank to an end next year
Ex-PBoC’s Su new chair of country’s biggest electronic payments provider
Former People’s Bank of China deputy governor Su Ning made chairman of China UnionPay, country’s biggest payments service; Su replaces Liu Tinghuan, also formerly of the central bank
Fed toughens rules on consumer protection
Federal Reserve announces measures to protect mortgage borrowers from deceptive practices
NY Fed: emergency dollar swap lines a success
New York Federal Reserve study says dollar swap facilities provided effective source of funding to banks during financial crisis
Indian inflation back in single digits on back of Reserve Bank hikes
Official data on wholesale price index show inflation fell to 9.97% last month
Bank of Israel: riskier firms still turn to banks for funding
Bank of Israel study says profitability of firm and size determined method of financing with low profit firms preferring bank loans
Spanish bank borrowing from ECB continues to balloon
Spanish banks continue to depend on European Central Bank after stress tests exposed capital shortfalls
Zambia’s Fundanga: cost of capital still too high
Bank loans within the reach of the masses, but interest rates remain prohibitively high
BIS’s Borio on the paradox of financial instability
Bank for International Settlements’ Claudio Borio warns that system appears strongest when it’s most vulnerable
Fed’s Hoenig: we risk repeating past mistakes
Federal Open Market Committee dissenter warns that US economy requires prolonged period of rebalancing that low rates alone cannot tackle
China overtakes Japan as world’s second largest economy
Figures from Japanese Cabinet Office show that China’s GDP exceeded that of Japan in the three months to June
FDIC creates new units as US regulators expand for Dodd-Frank systemic oversight
US regulators are hiring more staff in preparation for Dodd-Frank changes
Bank of Japan – rate minutes (July 2010)
Monetary Policy Council all back rate hike; overcoming inflation “top priority task”
India’s Gokarn terms inflation a “legitimate concern”
Reserve Bank of India deputy governor Subir Gokarn says supply side price pressures cannot be controlled through standard monetary policy measures
Denmark’s Bernstein explains new investment income estimation method
National Bank of Denmark governor Nils Bernstein says new method will enhance analysis of balance of payment movements
IMF: financial stress distorts losses in defaults
IMF study says probability of default measures do not fully account for potential losses
‘Bail-in’ rather than bailout, says European markets group
Association for Financial Markets in Europe proposes regulator-enforced version of contingent capital to replace state-funded bailouts; proposals still troublesome, Goodhart says