Central Banking
French paper examines impact of ECB’s PSPP on bond yields
Researchers use data from the French market to examine bond shocks
G20 should create central bank blockchain group – think tank
Policy brief stresses the need for the G20 to be a leading figure in the blockchain debate; new consortium to discuss implications for monetary and fiscal policy
Don’t tighten SFT regulations without more data – ESMA paper
Move before 2018 could increase chance of “unintended consequences”
Hysteresis can explain eurozone peculiarities – Eichengreen and Bayoumi
Eurozone has not responded to shocks in the way economic theory would normally imply, with the German economy tied surprisingly closely to those of ‘peripheral’ countries
HK researchers ask how much markets affect RMB fixing
Researchers test China’s assertion the exchange rate is now determined more by markets, finding mixed evidence
Carney: no double standards on conduct at BoE
Governor says central bank held itself to even higher standards than it expects of regulated firms in dealing with Charlotte Hogg’s disclosure mistake
MAS’s Menon stresses importance of fintech regulation timing
Fintech needs regulation, but it should not “front-run” innovation, says Menon; regulation should “kick in” only when fintech risk “crosses a certain threshold”
Bank Negara Malaysia invites public to submit ‘fintech hacks'
Malaysia’s central bank extends research into fintech through public project; hopes regulatory sandbox will produce “game-changing results”
RBA’s Ellis examines the central banking community’s gender problem
RBA makes changes to processing candidate applications to remove unconscious bias, Ellis says; central bank recognises women face challenges when entering economics
Boost technology diffusion to solve productivity puzzle – Haldane
BoE’s chief economist says a “long tail” of low-productivity firms need support as they fall further behind a small frontier group
Denmark pays off all foreign debt for first time in 183 years
Government pays off its last foreign currency loan, leaving it free of foreign debt for the first time since at least 1834
ECB issues final guidance on NPLs
Supervisors are writing to larger eurozone banks with high NPL levels
Successful bank nationalisations need trust in government, paper argues
DNB paper looks at effects of government intervention on bank customers’ behaviour
Norges Bank paper offers method of stress testing with fire sales
Model recognises possibility of indirect exposures, which could affect outcome of bank stress tests
Third of businesses think investment has been ‘too low’ – BoE survey
Bank of England publishes results of survey of UK firms in latest quarterly bulletin; businesses experienced both real economy and financial “obstacles” to investment
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
People: Wilkins part of new IMF fintech team; Kanungo appointed as RBI deputy
Bank of Canada deputy joins IMF’s new fintech group; new deputy governor to take office at RBI; and more
Angeloni cautions over Commission’s SREP proposal
ECB regulator also welcomes EC’s Pillar 2 capital suggestion
BoE research offers insights from new regulatory database
The new database, comprising banks’ regulatory submissions, allows authors to shed new light on the evolution of the UK banking sector in recent decades
Russian central bank opens first overseas office in Beijing
Russian and Chinese authorities announce a collaboration on payment systems and money laundering prevention
Kashkari explains his sole FOMC dissent
Minneapolis chief reminds his colleagues the Fed treats 2% inflation as a target, not a ceiling; urges FOMC to publish plan for shrinking balance sheet
Bundesbank president: blockchain brings benefits and pitfalls
Technology has the potential to make financial markets “faster” and “more efficient”; its introduction should be accompanied by regulation
Carney warns of fading regulatory momentum
“Nascent risks” could threaten progress made so far if lawmakers and regulators give in to “reform fatigue”, the FSB chairman says
BoE collaborates with fintech firms to enhance payment system
BoE establishes new fintech community to discuss developments in the industry; next round of proof-of-concepts to examine ‘interledgers’ and threat intelligence