Central Banking
RBI’s Subbarao addresses issue of struggling co-operatives
RBI governor explains his views on the root causes of problems being faced by India’s co-operative banks
National Bank of Rwanda highlights payments progress
The number of ATMs, points of sale and debit cards in use has grown rapidly
Svensson sheds light on Riksbank division
Sveriges Riksbank deputy governor explains schism in central bank’s monetary policy committee; says choice of repo-rate path is flawed
Basel Committee chief sets out next steps for regulation
Stefan Ingves reveals timescale for finalising liquidity coverage ratio and gives details of the Basel Committee on Banking Supervision’s agenda for 2013
Centralbanking.com panellists split on CCP resolution
Bank of England’s Schooling Latter says central counterparties can be permitted to fail; Ruben Lee says politics will likely undermine efforts to avoid moral hazard, with central banks forced to act
Central bank gold purchases slow in third quarter
Growth of net central bank gold holdings in third quarter remains positive but decelerates compared with similar period in 2011; year-to-date holdings up 9%
External members again dominate Hungary’s monetary council
The council’s four external members outvote the governor and his two deputies for the third consecutive meeting, minutes show
Greece working paper dissects consumer credit
Bank of Greece researchers identify and separate demand and supply factors in Greece’s consumer lending
Emerging market bonds behaving as safe assets, says BIS paper
Local government bond yields in emerging market economies have contracted as global risk sentiment worsens, study suggests
Fed could extend asset purchases, minutes show
Some FOMC members say additional asset purchases likely to be needed next year to generate sustained improvement in labour market
Bundesbank concerned by escalating stability risks
German central bank’s financial stability review warns of a build-up of risks with echoes of past crises, but says the German financial system has become more robust during the past five years
Inflation jump exposed in BoE report
Bank of England adjusts inflation expectations after an October rise in inflation that some commentators branded as 'embarrassing'
Regulators called on to restrict loan modelling choices
Less modelling freedom makes sense, says loan data expert – and the alternatives would be far worse
BoJ deputy urges collaboration to tackle issues of ageing population
Kiyohiko Nishimura warns of ‘grave consequences’ if economic effects of demographic change are not given more attention; says regulation needs a clear focus
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Yellen wants more transparency and a change in forward guidance
Federal Reserve vice-chair Janet Yellen calls for more transparency and supports replacing the calendar date in the Fed’s forward guidance with economic conditions needed to lift the funds rate
Political favours damaging economic growth, says Malawian deputy
Malawi’s investment environment less competitive because of politicians’ pursuit of ‘money power’, says senior Reserve Bank official
Bank of Portugal forecasts economic contraction of 1.6% in 2013
The Portuguese inflation rate is expected to fall below 1% as the economy contracts next year
Icelandic rates raised as 2013 growth prospects strengthen
Inflation is lower than monetary policy committee expected; likely to be offset by spare capacity and low exchange rate
Norwegian deputy seeks ‘eternal truths’
Jan Qvigstad establishes three basic lessons from the past that remain universally relevant today
Latin American fiscal rules 'have helped some countries'
A study by the Bank of Spain finds the adoption of fiscal rules has helped some Latin American countries to reduce procyclical fiscal policy. But the rules are no panacea
RBI’s Sharma laments failure of derivatives markets in India
The interest rate swaps, credit default swaps and interest rate futures markets have all failed to take off as hedging markets in India, likely due to onerous regulation, says RBI executive director
Mutuals warn of capital threat from UK 'twin peaks' regulation
Guidance needed on treatment of with-profits fund surpluses under new supervisory regime
Netherlands Bank’s Knot says regulation is inadequate
Former Basel Committee risk head Klaas Knot and Bank of England’s Michael Cohrs say regulation is not sufficient to rehabilitate financial culture