Central Banking
Perception of EM risk reduced by central bank safety net, say investors
Large foreign exchange reserves held by emerging market central banks makes investing in those countries attractive, say panellists at FX Invest Europe
European legislators agree sweeping rules for banking sector reform
European Parliament and Commission agree CRD IV package to tighten capital rules, increase bank transparency and curb bankers' bonuses
Draghi delivers sermon on trust
European Central Bank president says trust is the key to mutual support, stronger collective responsibility and a deeper economic and political union
Cleveland paper trumpets value of median CPI in forecasting
Research says median CPI – a ‘trimmed’ measure of inflation – can improve the accuracy of forecasts involving a range of macroeconomic variables
Abe picks Kuroda to head Bank of Japan
Haruhiko Kuroda nominated next governor of the Bank of Japan; markets respond positively but commentators warn Kuroda’s dovish stance could amount to debt monetisation
People: State Bank of Pakistan’s board overhauled; RBI deputy’s term extended
State Bank of Pakistan receives five new directors; Reserve Bank of India deputy responsible for banking operations extends stay; and more
Bernanke commits to continuing asset purchases
Fed chairman says benefits of ongoing monetary policy stimulus are clear; urges US government to delay bulk of impending spending cuts
ECB paper seeks to balance the arguments of eurosceptics
Researcher says sovereign debt crisis should be seen as a mix of many harmful factors rather than one single problem; offers optimistic view on the prospects for recovery
Fijian governor hails launch of renminbi currency exchange
Barry Whiteside says currency exchange will boost trade between Fiji and China, which has recently dislodged Japan to become Fiji's fifth largest trading partner
Spanish governor unimpressed by banks’ capital requirement shortcut
Luis Linde unhappy that European banks have increased the CET1 ratios by deleveraging; concerned about impact of regulatory overhaul on credit and growth
UK regulators back tough action on banking sector competition
FSA and FCA chiefs say new regulators will try to reduce banking sector concentration, including potentially breaking up large banks; Wheatley warns PRA and FCA may not see eye-to-eye on the matter
BoE’s Fisher sees longer horizon for asset purchases
MPC member Paul Fisher says Bank of England should consider switching to a more gradual pace of asset purchases over a longer period of time
New Zealand finance minister proposes new central bank toolkit
Bill English says new tools would allow RBNZ to manage excesses in credit cycles; emphasises credibility will hinge on continued central bank independence
Korean paper draws macro-prudential policy lessons from history of the 2000s
Working paper draws on Korea's experience of macro-prudential policies over the last decade, which failed to shield it from the impact of the global crisis
Czech National Bank enlists mobile app in fight against forgery
New mobile app to help Czechs check notes and coins for signs of forgery; counterfeit seizures continue downward trend
Central bank independence: more myth than reality?
Crisis responses are placing a heavy burden on many central banks. But there is no evidence showing that legally independent central banks have a better track record in monetary policy
Byres hints at Basel Committee rethink on risk-weight modelling
Secretary-general weighs challenges of balancing complexity and simplicity of capital requirements; outlines possible changes to banks’ risk modelling choices
Osborne quizzed over banking commission recommendations
UK chancellor questioned by parliamentary commission for omitting recommendations on capital rules and full retail banking separation in new banking legislation
EC and FDIC team up to tackle G-sifi resolution
European Commission and Federal Deposit Insurance Corporation establish working group to co-ordinate G-sifi resolution efforts
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
Weidmann says Europe does not revolve around Germany
Bundesbank president calls on co-ordination between Europe’s "heavyweights" to drive reforms and boost credibility of the EMU’s fiscal rules
Singapore aims to match Hong Kong with ‘good-as-new' new year banknotes
Singapore follows Hong Kong's lead in encouraging public to use 'good-as-new' banknotes for new year gifts
BoE’s Tucker urges careful consideration of negative interest rates
Paul Tucker encourages MPC discussion of alternative accommodative measures; expects existing QE to gain more traction as eurozone recovers
Atlanta Fed president sees dangers in chasing vague labour market target
Dennis Lockhart says policy-makers should balance considerations of longer-term costs when targeting 'substantial improvement' in labour market outlook