Central Banking
San Francisco Fed stresses diversity in search for new president
Mark Gould to serve as interim head as Williams takes over NY Fed
US rates will rise less than in previous expansions – Fed’s Williams
Higher savings and lower productivity growth means “new normal” will continue, Williams says
Dubai regulator issues ‘innovation testing licenses’ to six fintech firms
Licenses will allow firms to test products with relaxed regulatory requirements
Small depositors do not pose greater run risk – BIS paper
Authors say their findings imply financial inclusion need not create instability
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
The regulatory downpour
The Risk-based supervision focus report aims to offer assistance to financial regulators and supervisors in understanding the challenges that come hand in hand with evolution in the regulatory and supervisory environment. It explores how technology can…
US sanctions Iranian central bank governor
Valiollah Seif and another senior official accused of transferring funds to militant group
New Zealand governor accused of making partisan comments
As a fund CEO, Orr said he gave up funding earthquake rebuild; some interpreted his remark as an attack on the previous government
Italian and Spanish sovereign bond yields respond to ECB policy – researcher
Central Bank of Ireland letter says response to ECB announcements impaired during crisis
BoE’s Broadbent apologises for ‘menopausal’ remark
Deputy made the remark while trying to explain the word ‘climacteric’ to a newspaper
People: Weidmann re-elected as chair of BIS board
Korea appoints deputies; new Malaysian prime minister appoints team of economic advisers; new vice presidents in Richmond and Atlanta
Brainard ‘optimistic’ DLT has future in financial services
While privacy remains a concern, Fed board member believes resilience of the technology means it has a future, even if crypto dies out
Mauritius postpones MPC meeting due to ‘administrative matters’
Central bank moves meeting to May 30 after prime minister appoints three new members to MPC, which is now at full capacity
South Sudan president sacks central bank governor again
Country faces “enormous economic and humanitarian challenges”, says IMF staff report
New risks and opportunities
Central Banking convened a panel of experts to discuss how central banks and other authorities are making use of new risk-based assessment techniques to remain ahead of the fintech curve.
Fed nominees back regulatory efficiency drive
Nominees stick to efficiency line despite hostile questioning from some Democrats
Canada’s Project Jasper finds DLT is viable for securities settlement
Phase III of the project saw central bank cash and assets instantly settled across a DLT network where privacy is maintained
US consumer inflation expectations are on the rise – NY Fed
Median one-year price rise expectations increase to 2.98% in April from 2.75% in March
IMF releases world’s most comprehensive debt database
Data covers 190 countries and a wide range of instruments; Kenneth Rogoff calls the new database “really stunning”
No reason for public to have central bank accounts – Cœuré
ECB executive board member sees no current need for central bank digital currency, but says it could act as an alternative to cash in future
Erdoğan plans tighter control over Turkish monetary policy
President says he is held accountable for policy, so should have more influence
Bank of England should have ‘green’ mandate – report
Activist group says BoE should be given explicit mandate which would see climate sustainability on par with price stability
Draghi renews calls for wider economic union in Europe
ECB head recommends fiscal backstop for resolution fund criticised by German policymakers
IMF recommends improved central bank communication in Latin America
Clearer policies and increased transparency could help to deal with future shocks