Central Banking
Volcker questions remain as metric reporting begins
US banks with more than $50bn in assets will be required to report trading metrics to regulators from July 1, but confusion remains around hedging and market-making exemptions
ECB's Cœuré says German lowflation threatens to trigger eurozone ‘race to the bottom'
Executive board member argues bank's June measures were necessary as Germany plays a 'benchmark role for peripheral countries in correcting their imbalances'
Price competitiveness strong in the US but weak in China, Bundesbank paper finds
Proposes ‘simple productivity approach-based' method for calculating a ‘consistent set of multilateral indicators' of price competitiveness
Bad news in US and Europe calms emerging markets, says Banxico deputy
Market calm in EMs ‘seems to increase with bad news from the pace of recovery in advanced economies', says Manuel Sanchez
ECB cuts frequency of monetary policy meetings
The governing council will set policy once every six weeks from January 2015; when combined with new rotation system national central bank governors will only vote six or seven times each year
Solomon Islands paper investigates monetary policy transmission mechanism
Second paper in a new series from the Central Bank of the Solomon Islands examines role of M1 and exchange rate on inflation and output in the Pacific archipelago
Ingves outvoted as Riksbank cuts 50bp
Swedish central bank hits zero lower bound for first time since 2010 as inflation plummets; outvoted Ingves says his standing is not weakened, calls housing situation ‘acute'
Czech vice-governor says parts of Basel III 'done with too much haste'
Vladimir Tomsik discusses regulatory framework's impact on smaller economies; says interaction between capital buffers and liquidity standards could pose problems
Bank of Russia sells half its stake in Moscow bourse to SWF-led investor group
Sovereign funds and institutional investors lead purchase of 11% stake in Moscow stock exchange as central bank proceeds with mandated divestment
Chinese banks freed to set own RMB-dollar exchange rate
Chinese authorities hand banks freedom to set their own dollar exchange rates; central bank also widens renminbi trading band
RBA's Debelle doesn't fear digital disruption to payments and currencies
RBA assistant governor Guy Debelle tells London conference digital disruption is a micro, not macro story - saying central banks can deal with a change in the transmission mechanism
Glenn Stevens lifts veil on RBA comms strategy
Reserve Bank of Australia governor Glenn Stevens says guidance on the future path of interest rates has ‘served its purpose’ and tells markets what to look for next
Yellen takes sides in ‘lean against the wind' debate
Federal Reserve chair says monetary policy faces ‘significant limitations as a tool to promote financial stability'; macro-prudential policies ‘far more direct' and effective
Dutch paper: Fed guidance pushed up equity prices abroad
Working paper published by The Netherlands Bank attempts to quantify impact of Fed’s forward guidance on international equity markets
Zeti calls for governance overhaul at central banks
Bank Negara Malaysia governor Zeti Aziz says central banks need to understand ‘the new realities’ of crisis management; argues for new internal committees dedicated to the cause
MAS deputy reveals plans to tighten AML/CFT regime
Ong Chong Tee says Monetary Authority of Singapore will require banks to conduct wider assessments of money laundering and terrorism financing risks
Italian socialist tipped to lead ECB-watching Econ Committee
Roberto Gualtieri likely to be elected as chair of the Econ Committee next week in the European Parliament, making him the chief point of contact with the European Central Bank
Tombini says inability to instil confidence ‘central explanation' for weak recovery
Central Bank of Brazil governor says ‘longer period of normalisation of monetary policy' a possibility; domestic inflation 'under control' and likely to remain ‘well behaved'
Turkey central bank announces research award winners
Emrah Şener awarded $7,000 for 'The Geography of Risk Capital'; annual awards granted to support research on 'Turkish economy, emerging market economies and/or central banking'
Should central banks review their investment guidelines as monetary policy normalises?
Central Banking editor Chris Jeffery talks to Charles Goodhart, Tim Young and Scott Dickinson about the strategies reserve managers can deploy ahead of a tightening in monetary policy
Atlanta Fed blog links inequality to rising education
Economic commentary published by the Atlanta Fed finds the growth in educational attainment in the US in the past decade contributed to rising levels of inequality
Financial crisis could cut long-term productivity by hitting spending on R&D
Bank of England working paper investigates the possibility that the drop in the UK's productivity since the crisis is due to the higher relative cost of investing in innovation
ESRB publishes framework for calibrating CCBs
European Systemic Risk Board identifies the indicators EU member states should use when building, reducing and releasing their counter-cyclical capital buffers
Fed levies record fine on sanctions-busting BNP Paribas
The Fed's fine of $508 million is part of a massive $9 billion fine for the French-based banking group for dealing with Iran, Cuba and Sudan in violation of US sanctions