Central Banking
Buyers of risk in CDS market highly exposed, ECB paper finds
Researchers analyse credit default swap market using data from 2011 to 2014
North Korea linked to Bangladesh Bank heist
North Korean IP address used in theft, claims Russian cyber-security firm; hacker group Lazarus’ fascination with financial gain “relatively new”
Central Banking Awards 2017: Gallery
See winners from the big night, including leading figures from across the industry, who came to pick up their awards
Kosovo central bank joins supervisory agreement with EBA and neighbours
Supervisors from five other parts of former Yugoslavia joined in 2015
ECB set for €50 note launch
The European Central Bank is to launch the fourth banknote in the new Europa series on April 4; the new note will retain design elements from previous series, but will feature revamped security features
Tucker: policymakers should focus on resilience and clarity
Central banks would gain legitimacy if they could better explain their models of systemic crises, and if politicians specified a particular risk tolerance, says former BoE deputy governor Paul Tucker
Icelandic leaders clash on possible peg
Prime minister challenges finance minister’s assertion that the krona needs to be pegged; government launches review of exchange rate policy
Uncertainty matters for forward guidance success – BoE paper
Authors show that introducing uncertainty generates significantly different macroeconomic effects, with implications for policymaking
Asset purchases could bring benefits in ‘normal’ times – paper
IMF working paper discusses whether asset purchases should be added to standard central bank toolkit; the policies seem more effective at combatting financial shocks than supply shocks
Haldane: central banks could ‘gamify’ communications
The game Monopoly could be the next tool in central bank’s communication toolbox, Haldane says, warning complex language breeds distrust
Eurozone instability tops reserve manager fears – survey
Threat of instability or weakness in the eurozone and fear of major asset price correction are greatest concerns for reserve managers in 2017, Central Banking survey shows
Bank of Finland publishes China and Russia forecasts
Chinese targets “encourage data manipulation”; Russia stalls on structural reforms
Fed’s Dudley discusses unwinding of balance sheet
Should reinvestment end “abruptly”, financial conditions would tighten, New York Fed president said; tapering “gradually and predictably” is the way to go, he adds
BoJ builds on BIS banking statistics
Researchers break down the statistics further, shedding new light on patterns of cross-border banking
ECB criticises draft Polish law on foreign-denominated loans
Draft bill could be even more expensive than previously abandoned proposal, ECB says
Ghanaian president nominates economist as governor
Ernest Addison is a lead regional economist at the African Development Bank
Inflation worries prompt further action from Mexico
Mexico slows pace of rate hikes amid inflation worries and volatile exchange rate; monetary policy committee will closely watch US economy, latest announcement says
Bank of Israel revamps policy communications
New approach to communicating monetary policy decisions as committee moves to an eight-meeting cycle
Bahamas further relaxes capital controls
Specific sectors of the economy will be able to obtain foreign exchange from banks both at home and abroad; non-resident firms to gain credit from international banks licensed in the Bahamas
Be careful of using swaps to track inflation expectations, analyst says
Be careful of using swaps to track inflation expectations, analyst says
Danes claim top spot for EU card payments
Danish people use cards more than any other European Union nation, central bank report says, with electronic payments widespread
Basel Committee outlines enhanced disclosure framework
Revised Pillar 3 standard adds “dashboard” of banks’ key prudential metrics and consolidates all existing Basel Committee disclosure requirements
Ghanaian governor resigns after one year in office
Recent IMF staff report praises the central bank, but says Ghana faces challenges
End of ‘hiking cycle’ has been reached – Sarb’s Kganyago
South African Reserve Bank publishes improved inflation forecast as the MPC votes to leave interest rates at 7%; uncertainty around the exchange rate is still a concern