Central Banking
Swift announces trials with ECB instant payment system
Linking “Swift gpi” to ECB’s Tips will greatly reduce delays in settlement, consortium says
IMF publishes first review of programmes since financial crisis
Directors say growth assumptions are often unrealistic and call for closer look at debt restructuring
Bank of Jamaica continues with monetary easing
Central bank has now lowered rates three times this year and cut reserve requirements twice
Cyber crime is ‘present danger’ for financial system – BoE deputy
Sam Woods emphasises need for more widespread stress-testing of cyber security
Powell plays down fears about record levels of corporate debt
Fed chair’s remarks strike similar chord to those of Ben Bernanke in 2007, but Powell says this time is different
BoE seeks to make financial stability more transparent – Brazier
Policy-makers look to improve communications and design tests more systematically
BIS paper finds cross-border links between monetary and macro-pru policy
Authors discover “significant interactions” between policies
RBA eyes rate cut as growth and inflation disappoint
Trade tensions and weak household income hamper central bank’s previous plan to tighten policy
ECB criticises revised Romanian tax law
New proposals could harm banks and distort lending, ECB says
Crypto assets have little impact on monetary policy, says ECB team
Task force concludes crypto assets do not fulfil functions of money
New Zealand banks attack RBNZ capital proposals
Central bank proposal would almost double banks’ minimum capital requirements
SBP hikes to 12.25% as inflationary risks grow
Government has been borrowing heavily from central bank and rupee has weakened
Israeli banks and households resilient to higher rates and unemployment
Housing market withstands adverse scenarios in macroeconomic stress test
Saudi central bank fines 16 commercial lenders
Country’s largest banks fined in what may be part of crackdown on consumer finance abuses
Johannes Witteveen, 1921–2019
Witteveen headed IMF during one of the most turbulent periods in monetary history
Open and closed economy central banks react differently to inflation – research
Some economies respond more strongly to certain variables, Fernando Leibovici says
Bank of Canada warns of corporate debt risks
Annual financial system report notes the growing corporate debt in Canada’s extractive industries
RBNZ paper hunts cause of flattening Phillips curve
Paper explores trend of declining relationship between inflation and economic activity
Senior Fed officials call for overshooting inflation target
Kashkari says Fed acted too early in tightening while Brainard says policy must meet ‘new normal’
Weakened international co-operation could hinder crisis response – Bernanke
Christina Romer ‘loses sleep at night’ about internationals' readiness to fight a future crisis
BoE’s Woods sees value in ditching EU-style rulemaking
Detailed legislation behind banking regulations may be unnecessarily restrictive for UK, says PRA chief; post-Brexit harmonisation with Europe could still cause problems
RBNZ: New Zealand’s biggest bank cannot use own risk capital model
New Zealand central bank says ANZ had “a persistent failure in its controls and attestation process”
Bank of Italy paper looks at impact of long-term rates
Long-term rates have significant impact on Italian banks’ risk appetite, researchers find
Israel’s banking system resilient to geopolitical shock, governor says
Recent stress tests measured impact of geopolitical shock on domestic economy