Central Banking
Fed issues guidelines on Volcker rule enforcement
Federal Reserve guidelines cover aspect of rule that extends compliance period to firms regulated by the central bank
Bank’s MPC split three ways
Bank of England Monetary Policy Committee minutes show rate-setters remain divided over future outlook of economy
Asia Risk Congress 2010: G-20 poised to tackle shadow banking and commodity derivatives
The G-20 is not going to sit still after its historic endorsement of Basel III. New targets include the shadow banking system and commodity derivatives, according to a senior Japanese government official.
What’s wrong with QE2?
Geoffrey Wood explains why he signed a letter arguing against the Federal Open Market Committee’s latest round of asset purchases
RBA minutes: looming inflation led to rate hike
Reserve Bank of Australia minutes shows rate setters decided to increase the cash rate after forecasting higher inflation next year
St Louis Fed: Chinese house prices have minimal effect on savings rate
St Louis Federal Reserve study says rising housing prices in China do not explain the high savings rate of households
Bundesbank: fiscal stimulus contractionary in long term
Bundesbank study shows lump sum debt financing has short-term economic benefits but long-term costs
ECB’s Constâncio: Basel III implementation must avoid unintended consequences
European Central Bank vice president Vítor Constâncio says implementation of Basel III will be no easy task
Bolivia appoints interim governor
Former regulator named caretaker head of Central Bank of Bolivia
BIS survey shows OTC market levelling off
Notional volume and credit exposures are growing more slowly, latest market data shows
King’s letter to chancellor highlights inflation uncertainty
Inflation of 3.2% in October prompts Bank of England governor Mervyn King to pen another letter to the chancellor; move highlights high degree of uncertainty
Former CNB governor fails in bid to become mayor
Former Czech National Bank governor Zdenek Tůma loses out in race to become Prague’s next mayor
Malaysia names new deputy governor
Puan Nor Shamsiah Mohd Yunus replaces Dato' Zamani Abdul Ghani
A vision is needed of how the UK economy can be rebalanced
It is far from clear how Britain can rebalance its economy, writes Claire Jones
Make the right decision: Spain’s Ordóñez to Dublin
Governor of the Bank of Spain suggests Irish officials ask for help as fears grow that Dublin’s resistance to a bailout will trigger contagion
Academics attack QE2
Twenty-three academics call on Federal Open Market Committee to “reconsider and discontinue” QE2; signatory argues problems are as much on supply side as demand side
Lloyds CEO to step down from Bank’s court of directors
New Lloyds Banking Group chief executive António Horta-Osório to leave to avoid conflicts of interest
Canada’s Carney favours contingent capital solution to too big-to-fail
Bank of Canada governor Mark Carney says embedding contingent capital in all future issues of new debt will privatise losses
RBA: China’s thirst for commodities driven by global export market
Reserve Bank of Australia study says China’s demand for resources is largely driven by developments in international not domestic markets
Czech National Bank – Inflation Report (November 2010)
Czech National Bank Inflation Report says growth in Czech Republic expected to moderate due to government austerity measures
IMF: budget responsibility laws do not guarantee improved fiscal policy
Fund study shows fiscal performance is not enhanced by institutions on budgetary responsibility
Politics won't get in the way of Sifi plans: FSB's Draghi
Financial Stability Board chairman Mario Draghi says resolution regimes for systemically important banks operating across borders need not be bogged down in political tensions
IMF to pitch in on imbalances, but no clear agreement
G20 leaders call for Fund assistance in drafting “indicative guidelines” to frame global imbalances debate but stop short of definitive statement on currency dispute
Fed’s Hoenig: US housing policy badly flawed
Kansas City Federal Reserve president Thomas Hoenig says government intervention in housing markets was counterproductive