Central Banking
Robert Pringle’s Viewpoint: Janet Yellen - that honeymoon feeling
Comparing what the new Fed chief should do with what is likely
Polish paper says monetary policy transmits mainly through real sector
Researchers at the National Bank of Poland build a structural vector-autoregression model that includes both fiscal and monetary policy
People: Maldives nominates female governor; Uribe takes over from Carstens on BIS body
Local bank executive nominated after former governor's sudden resignation; Colombia governor Uribe takes over from Agustin Carstens on BIS Americas council
Turkish banks 'sound' despite 'significant increase' in non-deposit funding, central bank says
Lenders' asset quality and capital adequacy high enough to withstand shocks according to new financial stability report; liquid FX assets cover 'half' of sector's short-term external debt
Riksbank board grappling with ‘genuine policy dilemma'
Minutes show last month's cut in interest rate was preceded by considerable apprehension, with one board member describing it as his ‘most difficult' decision to date at the central bank
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
UK banks win tax exemption for client clearing
UK tax authorities exclude client collateral received as a result of clearing activities from bank levy, after complaints it would act as a disincentive to clearing
Fiscal policy can counteract Dutch disease, say Peru economists
If the gains from public investment are shared throughout an economy, then such government spending can counteract the harmful effects of Dutch disease
People: Lautenschläger for ECB board; IMF's García set for Chile central bank
EU leaders nominate Bundesbank deputy, in charge of banking supervision, to take German spot on ECB executive; Chile's IMF director to join national central bank; and more
Yellen approved as Fed chairwoman
US Senate approves Janet Yellen as Federal Reserve's first female chair, in closest vote to date; adjusting unconventional policies to improving economic conditions ‘greatest challenge', says analyst
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
US community banks losing their edge with small businesses, paper finds
Fed discussion paper finds small, opaque businesses are just as likely to use a large banking corporation as they are a community bank; strong banking relationships remain important
Banque de France paper explains new GDP forecast model
New model aims to eliminate 'systematic upward predictive bias' since the crisis
Singapore intensifies efforts to cut banknote waste
Monetary Authority of Singapore unveils a social networking campaign that encourages the public to refrain from giving brand new banknotes to each other at Chinese New Year
Philippines governor unperturbed by inflation surge
Amando Tetangco insists the inflation environment is ‘manageable’ despite annual CPI almost doubling in the past four months; central bank hits target for fifth consecutive year
Bernanke looks back on his time at the top
Fed chairman, who steps down on February 1, offers his take on an array of issues, including the long-term implications of asset purchases, central bank accountability and financial stability reforms
New York Fed's Dudley lists presidential attributes
The president of the New York Fed need not be an economist, says Dudley; they must, however, be open-minded, pragmatic and have a strong research team behind them
Flug turns Bank of Israel focus to financial stability
Central bank's 'workplan' for 2014 centres on financial stability reforms; governor tells Knesset that stress tests show banking system is strong, but operating efficiency remains low
Bank of Italy share capital revalued
Italian government revalues central bank’s share capital at €7.5 billion; ECB rebukes finance ministry for jumping the gun
SNB loses $16 billion on gold
The Swiss National Bank expects to report a loss of 10 billion dollars for 2013 as heavy valuation losses on its gold holdings outweigh forex gains and StabFund profits
IMF paper models sovereign restructuring in monetary union
Paper prepared by economists in IMF's fiscal affairs department shows the restructuring country's economy would suffer more if its residents hold most of its sovereign debt
US Fed heads debate slow growth ‘riddle'
Presidents of four regional reserve banks at odds over whether weak trajectory in wake of the financial crisis is inherently structural or cyclical
Lagarde warns of single currency ‘challenge’ in East Africa
IMF managing director Christine Lagarde tells the East African Community to learn from the genesis of other monetary unions across the globe
Kuroda draws on lessons from Paul Volcker’s Fed tenure
Bank of Japan governor Haruhiko Kuroda points to Paul Volcker’s success in lowering inflation expectations in the United States as proof of central banks' ability to influence markets