Central Banking
RBNZ remains uncomfortable with house prices
Reserve Bank of New Zealand will maintain its ‘speed limit’ on mortgage lending with high loan-to-value ratios until the housing markets ‘comes into better balance’
Tombini rejects ‘generalised vulnerability’ of EMs
Brazilian governor dismisses notion that exchange rate depreciation in wake of Fed taper is associated with an ‘inevitable, looming’ external payments crisis in emerging market economies
ECB’s Mersch defiant on OMTs
Yves Mersch tells an audience in Berlin the ECB would be willing to buy government bonds in the secondary market before the European Court of Justice’s ruling on OMTs
Risk of dealers exiting from market-making 'much reduced', says BoE's Cunliffe
Bank of England deputy governor for financial stability says prospective UK leverage ratio framework 'could include power to vary ratio to counter macro-prudential risks'
De Larosière decries world monetary ‘anti-system’
Central bankers need to work together to identify and address macro-economic imbalances; system of co-ordinated currency boards could help absent functioning monetary system, says former IMF chief
Newspaper spat puts ‘serious dent in credibility' of Central Bank of Barbados
A spokesperson for the bank declined to comment on claims The Nation has been banned from attending press conferences; newspaper is considering legal action
ECB paper finds press conferences have ‘gained in importance’
European researchers find the president’s press conferences have become a more important communication tool since the financial crisis
Tetangco looks to promote financial inclusion on Asian research agenda
Philippines governor Amando Tetangco to encourage studies on the interaction of financial inclusion with monetary policy and financial stability as part of the research agenda at BIS Asian office
Canadian government wields macro-prudential power, IMF paper says
Government control over high loan-to-value mortgages has successfully taken some heat out of the Canadian housing market since the economy began to recover
Maldives Monetary Authority denies knowledge of terrorist funding
MMA rejects statement in US department of state report that the central bank is aware of funds being raised on the islands to support terrorism abroad
FSB issues peer review on ‘uneven' progress to end credit ratings reliance
Basel-based Financial Stability Board says its members must not replace mechanistic reliance on credit rating agencies with an equally narrow substitute
Kohn compares UK and US macro-prudential experience
The former Fed vice-chair and member of the BoE's financial policy committee says any arrangement needs central bank in 'major role'
Constâncio calls for centralised deposit insurance scheme
European Central Bank’s Vítor Constâncio welcomes legislators deal on deposit guarantees but insists they are ‘only a little part’ of what is necessary
BoE's new international head among senior appointments expected this month
The Bank of England has three weeks to fill seven senior positions as part of a structural overhaul that goes live on June 1
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
New York Fed launches ‘more engaging’ website
The Federal Reserve Bank of New York leads a host of central banks overhauling their websites; redesign features new emphasis on social media
FOMC's Lockhart expects rate hike in second half of 2015
Atlanta Fed president believes QE will be 'completely phased out' by the end of 2014, but cautions it may take months to determine whether the US is on a 'sustained growth path'
RBA says low rates appropriate for 'some time yet'
The Reserve Bank of Australia sees evidence of the effects of 'substantial' monetary stimulus, but also says economy continues to face 'significant headwinds'
Cyprus finance ministry to publish SWF framework this year
Cypriot finance minister Harris Georgiades says he will finalise plans for a sovereign wealth fund this year, but monetising the country’s gas deposits remains a distant prospect
Monetary and macro-prudential co-ordination works well when pulling in same direction
Monetary and macro-prudential policy co-ordination brings benefits when they are both aiming at the output gap, but not when the regulator emphasises financial stability
People: BoK appoints new reserves chief; Fed staffer returns to head up Riksbank research
Chae Sun-Byoung new head of reserve management at Bank of Korea; Jesper Lindé returns to head up Riksbank's research department; Linette Field put in charge of SSM deputy directorate
FX lending in China tops $1 trillion, new BIS figures show
BIS's Robert McCauley estimates FX loans to China hit $1 trillion last year, though the recent renminbi depreciation may now cause lenders to think twice
EBA stress tests prove contentious: have your say
Market analysts raise concerns over the lack of a deflationary scenario in the forthcoming EU wide stress test; CentralBanking.com poll asks if the tests are strict enough
FOMC should be more explicit about its reaction function, says Plosser
Federal Reserve Bank of Phladelphia president Charles Plosser says 'simple, robust rules' can provide useful guidance for FOMC policy