Central Banking
European Parliament greenlights SSM
Lawmakers vote to put the ECB in charge of supervising Europe's biggest banks, as focus turns to arduous process of establishing single resolution mechanism
OTC derivatives reform could ‘fall short’, says Fed’s Dudley
NY Fed president William Dudley says reforms in OTC derivatives market are lagging work on bank regulation; calls for greater global coordination to push reforms as far as they will go
Finance ministers set to tackle bank resolution at Ecofin conference
Key policy-makers will gather in Lithuania Friday and Saturday to discuss European Commission's controversial proposal on resolution mechanism for failing banks
BIS' Cecchetti evaluates OTC derivatives reform
BIS Monetary and Economic department head Stephen Cecchetti says market responses to OTC derivatives reform will alter degree of netting of counterparty exposures
Carney defends Bank of England’s forward guidance
Bank of England governor defends use of state-contingent forward guidance despite bond market reaction; concern rises about mixed policy message
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
MAS targets household debt with new credit rules
The Monetary Authority of Singapore has unveiled an arsenal of new measures to cap individuals' borrowing in an attempt to rein in rising levels of household debt
Asia-Pacific central banks shed light on future policy
Bank Indonesia hikes rates; Reserve Bank of New Zealand says it will likely tighten policy in 2014; Bank of Korea looks to buck emerging market trend and keep rates low as inflation drops
BoJ paper: ‘Sudden stop' central factor in recent financial crises
Guillermo Calvo argues 'sudden stops' help explain a number of issues which conventional monetary policy fails adequately to address
ECB calls for action as ABS market reaches ‘crossroads’
European Central Bank’s monthly bulletin calls on other institutions to help kick-start the market; suggests ABS transactions could be guaranteed in an attempt to boost SME lending
Bank of Finland publishes research overview
Newsletter highlights research on bank-sovereign feedback loops, information costs and their effect on investment and financial liberalisation in China
ECB reaches agreement with European Parliament over SSM minutes
European Central Bank will be required to submit a 'comprehensive and meaningful record of proceedings' of supervisory board meetings to the European Parliament - but not minutes in their entirety
Bank of Russia names G-20 summit co-ordinator as first deputy governor
Ksenia Yudayeva takes over as one of four 'first deputies' from Alexei Ulyukayev, who was made an economics minister earlier this year
Cœuré warns of threat of regulatory arbitrage on OTC derivatives
Benoît Cœuré says much progress has been made since Pittsburgh in 2009, but argues there is a risk of business moving to jurisdictions which lag behind in implementing the reform agenda
Slovenian economy assailed by austerity and money markets
According to central bank's 2012 annual report, inflation and credit costs increased as consumption, bank lending and the current account deficit fell
Regional Feds launch push for faster payments
The 12 Federal Reserve regional banks outline a broad 10-year plan for generating a faster, more efficient payment system; look to industry for specifics
Downsides of technology-driven financial system highlighted at AFI conference
Bank Negara Malaysia governor Zeti Akhtar Aziz says in opening remarks that financially marginalised groups could suffer as everyday financial activities become increasingly sophisticated
People: Stanley Fischer joins US think-tank; Hungarian central bank official moves to EIB
Fischer takes post at US think-tank after leaving the Bank of Israel; László Baranyay joins the European Investment Bank; sovereign wealth fund managers on the move
European Parliament postpones vote on SSM
Lawmakers want the European Central Bank to provide detailed minutes on banking supervision meetings; issue could delay parliament approval of SSM
Temptation preferences can inform asset pricing, Fed researchers find
According to San Francisco Fed paper, self-control preferences have important implications for macroeconomic issues, such as social security reform, income tax reform and asset-pricing issues
Asmussen: Eurozone governors should ‘withstand' pressure of public minutes
ECB executive board member Jörg Asmussen says eurozone central bank governors should be able to withstand the pressure of having their deliberations and voting made public
Bank of England considers move to polymer banknotes
UK could get polymer banknotes as soon as 2016; Bank of England launches a public consultation in a bid to win approval for the change
Basel's Byres says 'single global rulebook' wouldn't work
Different jurisdictions require different financial rules, according to the secretary general of the Basel Committee on Banking Supervision, but efforts should be made to standardise risk weighting
US and UK regulators have no ‘informal agreement’ on fines, says FCA chief
Financial Conduct Authority chief Martin Wheatley denies existence of a formula agreement for fines imposed on financial institutions among US and UK regulators