Central Banking
Should banks hold cocos or other kinds of buffers?
Richard Heckinger examines the merits of contingent convertible bonds vs other instruments for meeting regulatory requirements
Malawi governor announces plans for central depository system
New system will provide security for transactions taking place in the market, Chuka says; governor hopes project will increase market liquidity in the long run
Venezuela central bank launches new banknotes amid soaring inflation
The bolivar has weakened to unprecedented levels as inflation soars and political instability engulfs the nation; new note series’ highest denomination is 200 times larger than current highest
BoE unveils database of macro-prudential policies
Researchers attempt to classify the myriad forms of macro-prudential policy, compiling panel data on when policies were tightened and loosened in different countries
Singapore fines two foreign banks for 1MDB-related breaches
Investigations continuing into Goldman Sachs’ role, the regulator says
French paper presents macro-prudential early warning system
Authors advocate aggregating results of larger number of models
Bank of Korea embarks on ‘coinless society’ project
Central bank wants to eradicate use of coins by 2020; first stage of the project to use electronic travel passes to pay for goods and services
Fed ‘well positioned’ to regulate fintech firms – Brainard
Tech mantra of “run fast and break things” is not well suited to financial services, Fed governor says, although the central bank does not want to stifle innovation either
Netherlands paper explores people’s trust in pension funds
Most workers opt for flat-rate annuity arrangements but there are some deviations, authors find; expectations on expenses and trust appear to have an effect
Bank Negara Malaysia’s new site draws on award-winning designs
Responsive new site launched after in-house team conducts benchmarking exercise on award-winning central bank sites; head of electronic communications explains the evolutionary process
Norges Bank recommends higher equity share for oil fund
Declining global growth and lower volatility suggest a larger equity share is both desirable and manageable, central bank says
Carstens to succeed Caruana at BIS
Bank of Mexico governor will step down in 2017 to take on top job at the Bank for International Settlements
Finnish paper rethinks transmission of financial shocks
Researcher’s model uses search and matching approach
ECB publishes latest eurozone trade and investment guide
“Bop and IIP book“ explains compilation of national and eurozone figures
Ukrainian central bank proposes abolition of forex restrictions
The central bank’s multi-stage plan includes a draft law, despite political disputes
EU could impose negative rate shocks via IRRBB rules
EBA guidance on shocks is “outdated”, says ECB official
Brazil cuts interest rates amid US economic uncertainty
Uncertainty around the rate of disinflation prompts committee to reduce rates with caution; pace of disinflation may “intensify”, says Copom, dependent on strength of economic recovery
Tallow controversy forces Innovia to look at alternatives
Innovia to seek alternative to tallow as traces of animal extracts in the Bank of England's new ‘fiver’ sparks global review; Canadian and Australian banknotes also contain traces in guardian substrate
Rate pass-through 'weaker and slower' in Mongolia – paper
Reforms at the Bank of Mongolia have improved the transmission mechanism, authors say, but there is plenty more work to do
Deal on output floors and op risk approach likely – Ingves
Revised standardised approach to credit risk will be “capital neutral” and more compatible with IRB
Eurozone must urgently raise productivity, Draghi warns
ECB policy provides governments with "window of opportunity" for reform, ECB president says
Unreported assets worth $6–7 trillion, Italian researchers say
“Areas of opacity” remain, despite recent anti-evasion initiatives, authors say; paper estimates the global levels of personal tax evasion and undeclared assets held overseas
MAS warns of risks surrounding households
Prudent financial and debt management is crucial, the regulator says, to entrench the gains made through macro-prudential measures implemented earlier
New Zealand central bank asks for more macro-prudential powers
Capital’s housing prices "among the highest in the world", report says; heightened debt levels among farmers leave sector "vulnerable to future shocks"