Central Banking
China joins Indian calls for better taper co-ordination
People's Bank of China says advanced economy coordination is ‘reasonable and inevitable course of action', joining calls from the Reserve Bank of India for international monetary policy solidarity
Central Banking Autumn Training Series 2014
More than 4,500 central bankers have attended the seminar-based training courses run by Central Banking Publications since 1999, and it’s not too late to book your place for the series that starts in Cambridge on September 9th.
Colombian economist extends Bernanke-Gertler model for open economies
Model holds for open as well as closed economies, Central Bank of Colombia paper finds, concluding that they are even more vulnerable to asset price bubbles
Governors and deputies address labour market conundrums at Jackson Hole
Brazil's Tombini, Japan's Kuroda and BoE deputy Ben Broadbent offer their takes on ‘new natural' unemployment rates, weak productivity growth and central bank remedies
Bundesbank paper explores liquidity shock transmission
Claudia Buch and Linda Goldberg summarise the findings of empirical studies conducted across 11 countries to explore liquidity risk transmission
Reserve Bank of India to trial ‘plastic banknotes’
Annual report details plans to run a ‘field trial’ of plastic banknotes by 2015, in addition to several other initiatives aimed at improving the central bank’s cash management
Reserve Bank of Zimbabwe sets up ‘bad bank'
'Bad bank' will assume a growing number of NPLs from troubled lenders; NPLs in Zimbabwe amounted to 18.5% of banks' assets in June, according to central bank
Jamaican governor hails resilience to inflation shocks
Bryan Winter says the country’s reform program has enabled inflation to remain low despite sharp depreciation in currency; reveals new design of monetary policy report
Central Bank of Hungary brings in macro-prudential borrowing caps
New caps will limit payment-to-income levels especially on FX loans; central bank hopes one side-effect will be to discourage the informal economy
Small eurozone countries can use government spending to combat imbalances
ECB-published working paper examines small open economies in a monetary union, whose options for dealing with shocks are limited
Emerging currencies face uphill battle for true internationalisation
BIS report published alongside major EME survey also warns the costs of an international currency might outweigh the benefits
EMs discuss monetary responses to policy spillovers in major BIS publication
BIS publishes result of wide-ranging emerging markets survey, finding that transmission channels have changed since the crisis and opinions differ on how to respond
Nurbek Jenish named Kyrgyz deputy
National Bank of the Kyrgyz Republic appoints Nurbek Jenish, an academic with experience at the World Bank and Asian Development Bank, as third deputy chairman
ECB prize winners size up shadow banking
Working paper published by the ECB considers how regulatory arbitrage and the shadow banking sector can undermine commercial bank safety nets
Finnish paper says Sepa 'not enough’ on its own
Researchers argue that Sepa is an ‘important’ initiative but further measures will be needed to create an efficient payments system; call for ‘vigorous’ competition policies
Australian payments council established with support of central bank
New payments council features members from 14 organisations across the payments industry – including the central bank – and was set up on basis of RBA recommendations
BoE paper finds QE did boost bank lending - slightly
New data set shows effect of increased deposits did feed through to lending, though the effect was dampened by lower levels of capital during the crisis
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
Draghi encourages ‘greater role’ for fiscal policy
ECB president says a policy mix of monetary, fiscal and structural measures is necessary to keep the eurozone recovery on track, in his remarks at Jackson Hole
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
CentralBanking.com will return on Tuesday, August 26
Due to public holidays in the UK, CentralBanking.com will not publish a news alert on Monday. Normal service will resume on Tuesday, August 26
Conditions ‘in place’ for repo expansion in East Asia and Pacific
Report published by central bankers in the Asia-Pacific region finds that repo markets are ‘not as large as might be expected’, but conditions are in place for them to grow
Carney urged to help end masking of swap counterparties
'Ambitious but realistic' deadline could be set for banks to stop hiding counterparty details – the industry’s response to a conflict between privacy and reporting rules