Central Banking
Swift warns of greater cyber threats as security control deadline nears
Customers have until December 31 to implement 16 mandatory controls
Cocos lower banks’ funding costs – BIS paper
Mechanical triggers and equity conversion strengthen cocos’ impact, paper finds
RBNZ eases housing market restrictions
New government’s policies should “dampen” housing market pressures, acting governor says
Slower health care price rises limiting US inflation, San Francisco Fed paper says
Medicare prices rise by 1.1% annually since 2012, compared with 3.5% in mid-2000s
Powell to explain policy outlook before US Senate
Nominee set to defend loose policy stance and independence of central bank as new chair
ECB’s public sector asset purchases pushed down repo rate, BdF paper finds
Effect was particularly strong before January 2017, researchers say
Central Bank of Myanmar retreats from stricter loan rules for banks
CBM loosens regulations on overdraft facilities in response to market concern
Haldane: BoE working to close ‘trust deficit’
BoE chief economist says mix of “layered” communications, public engagement and education is helping to overcome perception of aloofness
ECB should not raise rates until 2020 – OECD
OECD says European Central Bank should “gradually” taper asset purchases in 2018
Most UK banks withstand ‘disorderly Brexit’ stress tests – BoE
Majority of banks unfazed by tests “more severe than the financial crisis”, but a few struggle with lingering issues
Solomon Islands central bank in contingency planning push
Central bank asks financial institutions to establish boards for crisis management
Bank of Russia allows country’s largest bank to use IRB approach
Sberbank is first Russian bank to be allowed to use IRB
EBA highlights ‘cliff-edge Brexit’, cyber and NPL challenges
No-deal scenario could affect banks' ability to fulfil contracts
OECD issues warning as debt peaks
Debt rises in volume and falls in quality in many OECD countries; New York Fed figures show US household debt at new high
SBP welcomes ‘visible change’ in government borrowing
Government’s reduced reliance on borrowing from the central bank has supported monetary policy implementation, the State Bank of Pakistan says
Ultra-low rates hampered productivity in US, researchers find
A slower pace of policy normalisation can help boost productivity and growth
UK Royal Mint to use blockchain to track gold trades
System will track ownership of gold traded on new platform without the need of a central database; new system will charge small transaction fees but abolish storage fees
How crypto is my currency?
Richard Heckinger examines how central banks are grappling with new ideas on crypto-currency and distributed ledgers
Bank of Canada paper investigates the ‘burden of coins’
Research sheds light on consumer behaviour when making low-value transactions with cash, suggesting cards more likely to be used if large amount of coins will be received
Libyan PM calls for unification of country’s central banks
Eastern branch functions as separate central bank and issues Russian-made currency
Haldane outlines ‘interdisciplinary’ economics model
Andy Haldane and Arthur Turrell describe a way of broadening the scope of economics’ limited array of core models
Distorted Swiss surplus not good base for policy – Jordan
Multinationals’ operations, higher nominal rates abroad and Swiss franc appreciation increase the surplus
Philippines set to launch repo market
The government securities repo programme will be launched on November 27, as a part of the local currency debt and foreign exchange market reforms
ECB officials disagree on open-ended QE
Agreement on keeping private-sector purchases sizeable, which would increase their importance