Speech
RBA’s Edey explains cross-border treatment of CCPs
Australia will not insist on domestic incorporation for overseas CCPs; regulators favour a ‘graduated framework’ for imposing additional requirements on the most important CCPs if necessary
Poloz sees risks to inflation outlook as ‘roughly balanced’ as Canada holds rates
Canadian governor highlights ‘building’ economic momentum after central bank holds its target for the overnight rate at 0.5%
RBA’s Richards gauges sentiment on card payments regulation
Head of payments policy highlights areas of ‘common ground’ in response to issues paper on card payments regulation, but also some ‘real differences’ between stakeholders
Brainard mulls how to reduce ‘undue’ regulatory burden
Fed’s Lael Brainard discusses potential areas for reducing regulatory burden faced by banks; warns process may take longer where interagency agreement needed
BoE needs to avoid getting ‘behind the curve’, says McCafferty
The monetary policy committee member warns against leaving the rate hike "too late", making it harder to raise it gradually to minimise disruption to households and businesses
Outlook for emerging markets not as ‘gloomy’ as people think, BoE’s Forbes says
Bank of England MPC member Kristin Forbes warns pessimism may be ‘overshadowing important differences across countries’ and strengths in some economies
Jamaican governor defends update of central bank act
Amendments would give central bank new responsibility for financial system stability; Brian Wynter argues it is not designed to turn the institution into a ‘super-regulator’
RBNZ governor reiterates further easing ‘seems likely’
Graeme Wheeler says the central bank is ‘conscious’ of the impact low rates can have on housing demand; RBNZ has cut OCR by 75bp since June
Macro-prudential tools can influence inflation, Menon says
MAS managing director outlines interaction of prudential tools and monetary policy, saying Singapore deliberately used macro-prudential tools to help lower inflation
BoE’s Sharp wants FPC powers over buy-to-let market
UK Treasury will consult on the prospect of handing the FPC powers of direction over buy-to-let lending; external FPC member in favour
Poloz explores ‘risk management’ in policy framework
Bank of Canada governor says monetary policy cannot always be used to lean against the wind, but financial stability impact can be taken into account on occasion
Financial Stability Board should define shadow banking, Irish market supervisor says
Financial Stability Board is the best body to give regulators a clear definition of the shadow banking sector, says the Irish central bank’s director of markets supervision
Minneapolis Fed president open to cutting rates
Narayana Kocherlakota stresses room for improvement in US labour market, noting low inflation could give the Fed space to pursue more accommodative policy
RBA’s John Simon says low rate a ‘poor predictor’ of crises
Low interest rates of themselves did not cause the global financial crisis and have always been a poor predictor of economic instability, senior Reserve Bank of Australia economist argues
DNB director targets better measurement of inclusion
Frank Elderson emphasises the benefits of financial inclusion and says central bank will put forward proposals for financial inclusion index later this week
RBI deputy urges banks to address asset quality challenges
SS Mundra discusses challenges facing India’s otherwise ‘vibrant’ banking system; asset quality poses challenges to banks and supervisors
Multi-polar system ‘likely’, says ECB executive
Benoît Cœuré considers evolution of global financial system; sees rise of emerging economies leading to greater multi-polarity
Denmark’s Rohde concerned by lack of bail-in tool at mortgage banks
European standard for loss-absorbing capital does not apply to Danish mortgage banks, meaning resolution frameworks have to make do without bail-in
Lagarde calls for ‘policy upgrade’ across the globe
Managing director of the IMF tells advanced economies to ‘fully incorporate’ spillovers in decision-making, and eurozone to tackle problem with non-performing loans
Regulators must move on shadow banking, says Bundesbank board member
Regulators must act on evidence of ‘significant movement’ towards shadow banking sector, says Deutsche Bundesbank’s Andreas Dombret
Cyber attacks could represent systemic threat, warns Ireland’s Roux
A string of cyber attacks on financial institutions could start a ‘domino effect’ that triggers a financial crisis, so firms need to improve their defences, deputy governor says
Kuroda unfazed by ‘somewhat stagnant developments’
Japan’s economy has been through a summer lull but the BoJ chief insists it will bounce back, with inflation set to rise as expectations shift and low oil prices pass through
Noyer wants tailored approach to shadow bank regulation
Banque de France governor highlights the risks of a ‘one size fits all’ approach to regulation across the banking and shadow banking sectors
Bundesbank board member wary of flexibility in fiscal rules
Carl-Ludwig Thiele calls for more "balance" between liability and control in the eurozone, stressing the importance of enforcing fiscal rules