Central Banking
Systemic risk regulators should direct policy not just give warnings, says HSBC's Haswell
Past experience suggests the new financial stability bodies should direct regulatory policies, not just warn about instability
RBA’s Ellis: build more houses
Reserve Bank of Australia financial stability head Luci Ellis says more housing needed to offset rapid rise in house prices
RBA: May minutes show hike down to inflation scare
Reserve Bank of Australia’s May Board meeting reveal upward revision in inflation led to rate hike
Ireland’s Honohan says bank and government partnership key
Central Bank of Ireland governor Patrick Honohan says co-operation between banks and state is essential to credit markets
Philly Fed: trade declines in US recession normal
Philadelphia Federal Reserve study shows that inventories stock created a buffer following declines in post-crisis trade
Bond vote highlights flaws in ECB’s governance: Ex-FSA head Davies
Former head of UK Financial Services Authority Howard Davies says vote on bond purchases underlines flaws in European Central Bank’s one member, one vote policy
Persistent UK inflation sparks concern over Bank’s forecasting
Mervyn King forced to pen another letter to chancellor as inflation remains way above target
Venezuela tightens grip on FX in bid to close down unofficial market
Central Bank of Venezuela to attempt to curb the depreciation of the bolivar by taking control of foreign exchange
China sought safety in US Treasuries as eurozone markets unsettled investors
Treasury data out on Monday show China and Japan heavily increased their holdings in US Treasuries in March
Values of Target2 transactions slide by a fifth
European Central Bank blames economic slowdown for decline in turnover; volume of transactions also dips
Bini Smaghi defends ECB policy to dump rating agencies
ECB board member Lorenzo Bini Smaghi attacks rating agencies for role in Greek debt crisis
Yilmaz confident Turkey can keep up with other emerging markets
Central Bank of Turkey governor Durmas Yilmaz says country’s lack of toxic assets has paid off during the recovery
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
BoJ: payments systems need liquidity revamp
Bank of Japan review on payments and settlement systems says current liquidity requirements are inadequate
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Nigeria under attack from government aide over reforms
Nigeria’s National Security adviser General Gusau says central bank's reforms are hampering country's recovery
Buba’s Weber interested in price-level targeting
Bundesbank president Axel Weber says move to price-level targeting could help anchor inflation expectations
Trichet reaches out to German public
European Central Bank chief Jean-Claude Trichet participates in several interviews with German media to assuage fears over the central bank’s entry into bond markets
RBI’s Subbarao: Tobin tax benefits “debatable”
Reserve Bank of India governor Duvvuri Subbarao says India will hold back on capital controls
Richmond Fed on sovereign debt dilution
A Richmond Federal Reserve study shows having a sovereign debt default program in place reduces sovereign market risk
Fed’s Hoenig approves Hutchison amendment
Kansas City Fed president Thomas Hoenig says the Hutchison amendment will strengthen the oversight of small banks
RBA: inflation expectations converging globally
Reserve Bank of Australia paper finds inflation targeting policies helped the convergence of inflation forecasts to US levels
Central banks in biggest US Treasury sell-off for three years
Federal Reserve data shows foreign holders of US treasuries moved away from the dollar