Speech
Lender of last resort function must be flexible to cope with crises, BoE’s Hauser says
Central banks should prepare in advance to open up lender of last resort frameworks to new counterparties and instruments, Bank of England executive director says
Canadian deputy warns limits to macro-prudential tools may impact monetary policy
Timothy Lane says fiscal policy may have to step into the breach and provide stimulus when using monetary policy would risk creating ‘vulnerabilities’ macro-prudential policy can’t offset
RBI’s Gandhi: are regulators ‘barking up the right trees’?
Deputy governor stresses effective regulation is not about ever more detailed rules but rather taking a broad view and spotting emerging risks early on
ECB’s Angeloni wants analysis of macro-prudential measures ‘at some stage’
Supervisory board member says analysis will be important in the future, partly because it will help identify ‘scope’ of potential ECB actions
Esther George supports further rate rises unless outlook ‘significantly shifts’
Kansas City Fed president supports further rate rises unless economic outlook changes notably; normalisation justified by job increases and economic growth, she argues
Some eurozone countries increasing ‘regulatory fragmentation’, Lautenschläger says
‘Regulatory fragmentation’ between eurozone nations’ banking supervision regimes is being increased in some cases, Sabine Lautenschläger argues
Irish credit unions still face challenges, regulator says
Ireland’s credit union sector faces ‘significant challenges’ despite recent improvements, with numbers of institutions under loan restrictions ‘far too high’, central bank regulator says
Rajan flags pitfalls of short-term thinking
RBI governor extols the virtues of macroeconomic stability, defending the central bank’s strict stance on inflation and calling on the government to stick to its fiscal consolidation plans
BoE’s Woods says Solvency II not a revolution
Executive director at the Bank of England examines historical changes in insurance regulation, concluding the introduction of Solvency II is in line with existing philosophy
ECB’s Cœuré: European Fiscal Board can play key role
The newly created European Fiscal Board, as well as independent fiscal councils in eurozone nations, can make ‘decisive contributions’ to policy, Benoît Cœuré says
BoE’s Bailey sets sights on balance sheet clarity
Clear disclosure of creditor hierarchies will be ‘critical’ moving forward, says Andrew Bailey; clarity in bank balance sheets is a ‘good thing’
Banque de France governor wants public reforms
France must cut its public debt and reform its labour market, says Francois Villeroy de Galhau; the governor also calls for new investment products
Weidmann says clearer liability would strengthen eurozone
Bundesbank chief says important element of fixing the eurozone’s ills is reinstating the ‘principle of liability’, instead of resorting to bailouts
BoE’s Weale sees shorter working week adding to inflation
Various measures suggest UK workers will gradually cut back on the number of hours they work over the next few years, adding to unit labour costs, external MPC member says
French governor weighs up ‘disruptive effects’ in card payments market
François Villeroy de Galhau discusses ‘main trends’ influencing card payments market, including ‘new solutions, new behaviours and players, new regulations’
ECB's Mersch considers hurdles to single payments area for cards
European payment card schemes and processors must address issues of standardisation, security and interoperability to create an effective single payments area, Yves Mersch says
New York Fed president keeping eye on expectations
William Dudley expects inflation expectations to increase if the economy keeps growing at an above-trend pace, but any deviation could be cause for concern
ECB's Cœuré wants ‘corrective arm’ of EU tool used ‘forcefully’
European Central Bank executive board member stresses importance of sustainable rebalancing in the eurozone; wants to see potential of macroeconomic imbalance procedure realised
Europe needs ‘consistent’ policy on solvency issues, Lautenschläger argues
Decisions needed on whether the SSM has competence in solvency issues currently dealt with at national level, Lautenschläger argues; calls for reform to ‘routine’ decisions process
SNB’s Zurbrügg lays out considerations around interventions
Vice-chairman of governing board says there is no ‘one-size-fits-all’ method for deciding when or how to intervene in the foreign exchange market
Lockhart to watch inflation closely over the coming year
‘Mildly not wildly’: Atlanta Fed president remains optimistic for 2016 outlook, adding rate hikes not likely to occur at every meeting
Kaplan urges careful consideration of volatility
Federal Reserve Bank of Dallas president Robert Kaplan warns of the potential for further market volatility as normalisation continues
Mexico to ‘persevere’ in strengthening macroeconomic framework, bank deputy says
Deputy governor says effect of further normalisation in US policy ‘unclear’; Mexico to continue strengthening financial system
Risk that US public lowers inflation expectations, Chicago Fed president warns
The Federal Reserve’s undershooting of its inflation target in recent years may lower the inflation expectations of the American public, making future monetary policy harder, Evans warns