Speech
Low rates from QE poses risks to some pension and insurance firms in eurozone, Visco warns
Pension funds and insurance companies in some eurozone countries may need to adjust their practices to limit the risks arising from asset purchases, Italian governor says
Bundesbank board member calls for equal treatment of fintech by regulators
Financial regulators must apply the same principles to regulating financial technology companies that they do to banks, says a member of the Bundesbank’s executive board
Jamaica will require banks to have recovery plans to access emergency liquidity
Banks must provide recovery plans under new emergency liquidity facility, Jamaican bank governor says
Australian property market must be watched by regulators, assistant governor says
Residential and commercial property prices are rising rapidly in Sydney and Melbourne, Australian assistant governor says; evidence of some ‘slipping in lending standards’
RBA deputy disappointed by data inaccuracies
Philip Lowe discusses two problems that have emerged in reporting of loans in housing market, stressing value of high-quality data
Rising mortgage rates do not demand policy response, says RBA’s Stevens
Recent increases in mortgage rates have reversed some of the central bank’s easing, but there is no need to lean against the movement at present, governor says
Eurozone macro-prudential policy should be ‘streamlined’, says Belgian director
Mathias Dewatripont praises shared responsibility as a ‘clever idea’ at ECB forum, but acknowledges this ‘leads to some complex procedures’
Caruana favours flexible supervisory tools over constant regulatory reform
BIS head stresses the value of making flexible supervisory tools available on top of regulation to help keep up with financial market innovations
BoE’s Bailey stresses need for true understanding on boards
Andrew Bailey says executive board members should be responsible for explaining complex matters in simple terms, rather than leaving non-executives to figure it out for themselves
Constâncio: ECB working to overcome stress test limitations
Current ECB stress tests have multiple limitations including some macro-prudential considerations, ECB vice-president says
Europe should adopt expansionary fiscal policy, Fed's Stanley Fischer says
The ECB must continue with its ‘courageous’ supervisory and monetary policies, but they would be stronger if backed by an expansionary fiscal policy, says Stanley Fischer
Emerging markets risk ‘quantitative tightening’, Caruana says
Problems now affecting emerging markets are a continuation of global problems, head of BIS says; response by policy-makers is too reactive and based on domestic circumstances
BoE’s Shafik unconvinced regulation is main factor driving volatile liquidity
Deputy governor says regulation ‘only part of the story’ of why market liquidity has experienced bouts of dramatic volatility, and offers opinion on what policy-makers can do to help
Kganyago defends bank’s inflation targeting regime
South African Reserve Bank governor insists striving to meet an inflation target is not the same as ignoring growth, in speech in Cape Town
BoE’s Bailey considers how to foster competition
Bank of England deputy governor highlights the role of the PRA in fostering competition in the banking sector
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