Central Banking
PNG’s Kamit on how to reap benefits of microfinance
Bank of Papua New Guinea’s Wilson Kamit says that microfinance should go hand-in-hand with improvements to financial literacy
Labour productivity fosters booms
New York Federal Reserve shows labour productivity helps create bubbles
National Bank of Austria – Research Update newsletter
National Bank of Austria publishes latest Research Update newsletter
HKMA’s Yam hints at diversification
Departing Hong Kong Monetary Authority chief says he has “open mind” on whether exchange fund should diversify away from dollar into renminbi
Chile to lend at record-low interest rates until 2010
Chilean banks to be able to borrow at 0.5% until end of year
Foreign demand for euro banknotes on the rise
European Central Bank shows that 2008 saw a strong increase in the demand for euro-cash outside the euro area
Eurozone banks pay heed to ECB’s debit card calls
Euro-area banks proposing system to rival MasterCard and Visa
Russia chops another half point off benchmark rate
Central Bank of Russia cuts key rate to lowest since July 2008
IMF sees world economy coming out of recession
International Monetary Fund says global economy pulling out of recession, but recovery expected to be sluggish
Washington names nine to buy toxic assets
The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation give nine firms the right to buy assets under the legacy securities programme
China’s international balance sheet to triple in ten years
Bank for International Settlements shows that China’s role as a creditor nation will increase in the future
Bank surprise boosts sterling
Bank of England’s decision to hold quantitative easing programme at £125 billion sends pound up against euro and dollar
Kenya – Bank Supervision Annual Report 2008
Central Bank of Kenya’s latest Bank Supervision Annual Report notes that domestic banks continue to embrace new technology
PNG’s Bakani calls on government to cut costs
Bank of Papua New Guinea’s Loi Bakani says that the government should cut expenditure in the face of low export-commodity prices
Exchange-rate hedging reason for home-bias in equity holding
International Monetary Fund shows that households hold a disproportionate share of their equity portfolios in their own country’s equities due to exchange-rate hedging
Fed’s Kohn sets out case for independence
Federal Reserve’s Donald Kohn appeals to lawmakers to maintain independent central bank
IMF research highlights regulatory governance gap
International Monetary Fund paper criticises non-bank regulators for failing to see stability as part of their mandate, finds frameworks for insurance supervision flawed
US policymakers should implement Brady Plan-like measures
Boston Federal Reserve shows that lessons from the Latin American debt crisis can be applied to the US credit securitisation markets
Counterparty risk drives foreign-exchange swap market
Bank for International Settlements investigates dislocations in the foreign-exchange swap market between the dollar and three major European currencies
Banks’ capitalisation matters for monetary policy
Bank of Finland looks at the role of the banking sector in the monetary-policy transmission mechanism in an emerging economy with a rapidly developing financial system
IMF’s Kato praises China’s commitment to the Fund
China’s intention to invest in International Monetary Fund’s notes is highly important, says Takatoshi Kato, a deputy managing director of the Fund
UK government wards Bank off leaning against wind
Alistair Darling’s long-awaited proposals beef up bank regulation but say the Bank of England should avoid leaning against the wind with rate moves
Nigeria liberalises FX regime, looks to spur liquidity
The Central Bank of Nigeria’s new governor displays intent to move rapidly to fix the financial sector
Eurosystem compiles cards ‘Doomsday’ book
Oversight report on major card schemes planned for release next year