Central Banking
Brazil’s central bank slows pace of monetary easing
Central bank scales back cuts to 75bp with suggestion it will slow pace further moving forward; inflation continues to fall as forecast
DLT has ‘more potential for change’ outside US – Boston Fed VP
Jim Cuhna says distributed ledger technology can transform financial services not only in payments but also in securities settlement; challenge is finding use cases
Brazil loosens prudential regulations for non-banks
Small non-banks’ regulatory processes will be made cheaper under new legislation, while capital requirements will be reduced
Hong Kong and Singapore to collaborate on fintech
The first joint initiative of the two rival cities is to link the trade finance platforms with a DLT-backed interface
US debt and delinquency exceed pre-crisis levels – research
After five years of deleveraging, US households started to increase their debts in 2013
ECB likely to extend QE despite stronger growth, analysts say
Central bank expected to prolong programme by six months at reduced monthly rate of €30 billion
IMF’s Lipton says global growth is not ‘strong enough’
Deputy director says some emerging markets risk getting left behind
BoE paper studies interest rates across eight centuries
In July 2016, the global risk-free rate hit its lowest level since at least 1273, according to a new extra-long-term dataset
Argentina raises interest rates in pursuit of lower inflation
Despite declining core inflation, higher fuel prices could pose a threat to the central bank’s 2018 target; central bank raises rates to 23.75%
China’s party congress hints at new PBoC chief
Contest narrows to banking regulator head Guo Shuqing and Hubei province party secretary Jiang Chaoliang
RBI welcomes $32 billion public bank recapitalisation
Government unveils funding package designed to free India’s large public banks from a heavy burden of non-performing loans
ECB’s Nouy advocates global banking supervisory co-operation
The international nature of the financial system demands regulation across borders
Sri Lanka working to introduce ‘proactive’ policy – governor
Central bank in the past tended to do “too little, too late”, leading to big swings in interest rates, says Coomaraswamy
QE and negative deposit rates have increased lending – ECB
Sub-zero deposit rate has created small boost, but only 10% of banks report higher lending volumes due to negative rates
BoJ says Japan is overbanked
The central bank says Japanese banks may have too many employees and branches
Better structure could protect investors in P2P market - BoJ paper
Use of “specific purpose companies” could help protect investors in the event of the collapse of a P2P platform
Florens Luoga named new Bank of Tanzania governor
Tax lawyer and academic picked to head the central bank as Benno Ndulu completes second term
RBNZ faces mandate review under new government
Coalition agreement retains Labour pledge to consider shake-up of Reserve Bank mandate
US income inequality boosted by top 0.01% – research
Income via “pass-through businesses” is a great contributor to top inequality
Bank of Israel grapples with low inflation
Latest figure is a welcome exit from deflation but the central bank does not expect prices to be back on target until 2018
Paper highlights disparity in which fields of economics women enter
New York Fed study examines female participation rates in economics through conference case study, suggesting there may be barriers for women entering finance
European financial system is bigger and more concentrated, ECB says
NPLs have declined, but remain high in Cyprus, Greece, Italy and Portugal
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
Schoolgirl takes over management of Paraguay’s central bank
Alejandra Belén attended a board meeting and gave official address during her day in office; central bank takeover forms part of wider campaign