Central Banking
Fed holds off rate increase but outlook largely unchanged
The majority of Fed governors and presidents still expect a hike this year, but concerns over global outlook and domestic inflation prompt FOMC to hold fire for now
ECB allows national central banks to disclose ELA provision
Bank of Greece becomes first central bank to make use of power to disclose ELA figures
Consistent implementation key to Basel III success, research notes
Boston Fed policy perspective highlights importance of consistent implementation of liquidity regulation across G20 jurisdictions
IMF staff identify ‘priority areas’ for SSA reform
Staff members in the IMF African department chart the progress of financial development in sub-Saharan Africa, the challenges that remain and how they might be addressed
China eases restrictions on overseas borrowing
Move allows companies to raise funds in both local and foreign currency without state permission and could help offset record capital outflows, but analysts say short-term impact is likely to be limited
BoE paper explores impact of dark trading on primary exchange
Bank of England paper argues dark trading did not lead to worse market quality on the primary exchange for members of the FTSE 100 index between September and December 2012
ECB bulletin: risks to taxpayer funds gradually diminishing
An article in the European Central Bank's latest bulletin weighs the fiscal impact of financial sector support during the crisis, highlighting the benefits of a move towards banking union
Bank of Portugal suspends Banco Novo sale
Portugal's central bank has halted the planned sale of Novo Banco, the good bank created after the collapse of Banco Espirito Santo, citing unsatisfactory bids
Sveriges Riksbank strikes $500 million swap deal with National Bank of Ukraine
Sweden’s central bank could sell up to $500 million over the next six months under the agreement, despite one deputy governor objecting to its acceptance of the responsibility
National Bank of Denmark confident it possesses ‘necessary tools’ to defend currency
The ministry of finance will resume issuing government bonds in October after measures to stabilise the krone have ‘desired effect’
German paper explores risks of sub-custodian chains
The structures to safeguard financial assets are opaque and possibly risky, and could benefit from further study as regulation is overhauled, the discussion paper argues
Regulatory regime differences may drive international capital flows, study argues
Financial regulation may need to extend the principle of automatic reciprocity between national jurisdictions, working paper argues
BoE says cash unlikely to ‘die out’
An article in the Bank of England's quarterly bulletin illustrates the continuing use of cash in the UK, despite the introduction of new payment technologies over the last decade
South African deputy looks to fill gaps in resolution setup
Francois Groepe highlights main elements of proposals for a new resolution framework in South Africa; particular emphasis on creating a deposit guarantee scheme
RBA board holds off judging impact of volatility on trading partners
The board assessed the troubles in China and market volatility to have ‘increased the downside risks’ to the global outlook at its meeting this month, minutes show
Russian governor weighs exchange rate pass-through
Elvira Nabiullina discusses the bank of Russia’s estimates for how much the depreciation of the ruble will impact inflation, conceding prices have increased faster than expected
Difficult liquidity conditions are here to stay, say Asia conference panellists
Gapping moves in spot markets and higher prices for clients in FX derivatives are here to stay, as banks pull back from market-making in non-core currencies, panellists warn
Ukrainian governor declares victory in banking sector clean-up
Valeriia Gontareva says 54 banks were put into resolution as part of the National Bank of Ukraine’s efforts to put banks on a sounder footing
French economists protest against choice of central bank governor
One hundred and fifty French economists publicly question whether François Villeroy de Galhau faces conflicts of interest as central bank governor
ECB sees house prices undergoing ‘sustainable’ recovery
European Central Bank says eurozone housing markets appear to have undergone necessary corrections, in article released ahead of Economic Bulletin
Access to interbank FX market could spur central bank demand for China bonds
PBoC says foreign central banks will be allowed to trade derivatives in interbank FX market; move to underpin greater interest in China's interbank bond market, says analyst
BoE paper offers framework for exploring impact of regulation on interbank lending
Central banks could benefit from studying the impact of regulation on the levels of overnight interbank interest rates
Bank of England chief economist hosts Twitter session
Andrew Haldane calls for debate on future of banking regulation ahead of central bank’s ‘Open Forum’
Liikanen discusses logic behind publishing ‘accounts’
Bank of Finland governor says it is important central banks exhibit a ‘high degree’ of transparency, noting the ECB decided to begin publishing accounts as policy became more unconventional