Banks
IMF paper models wholesale funding impact on credit supply
Working paper looks at effect of bank wholesale funding during financial crisis; finds use of wholesale funds negatively impacted credit supply during the crisis
UK plans joint BoE-government funding scheme
Mervyn King announces 'funding for lending' scheme for banks; stresses full support from government is necessary
BIS paper examines impact of financial cycle
Working paper studies the financial cycle and its relationship to the business cycle; emphasises importance of considering the medium term in designing policies
HKMA’s Chan on Hong Kong as private banking hub
Norman Chan says Hong Kong is 'exceptionally well-placed' to become leading Asian private banking hub; warns that regulatory framework cannot afford to remain static
JP Morgan loss was bungled attempt to cut Basel III RWAs, says Dimon
Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
Fed’s Tarullo calls for prompt action to regulate shadow banking
Fed board member Daniel Tarullo sets out 'more or less immediate' steps that should be taken towards regulating the shadow banking sector
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
IMF paper develops model of systemic risk
Working paper studies asymmetric financial system response to shocks in individual institutions; finds negative bias towards shocks grows significantly with firm size
Zeti stresses importance of training in improving bank governance
Governor of Bank Negara Malaysia says training for directors of financial institutions is an effective method of promoting financial stability; praises FIDE programme’s role in achieving this
PBoC hires banker as deputy governor
Top executive leaves Agricultural Bank of China to become deputy governor at the People’s Bank of China; brings total number of deputy governors to four
IMF paper compares Islamic and conventional finance
Working paper examines returns on Islamic and conventional finance; finds differences in returns are not statistically significant
BoJ paper explains central bank’s money market operations
Paper examines Bank of Japan money market operations in fiscal 2011; says bank’s provision of funds maintained market confidence throughout year
FSB proposes future legal entity identifier system
Financial Stability Board releases report on implementing a global legal entity identifier system for the financial sector; wants system to be independently functional by March 2013
Estonia begins Sepa migration work
Estonian Payment Environment Forum holds meeting; attendees affirm commitment to ensuring a smooth transition to Sepa-compliant payments and settlements in Estonia
Fed’s Tarullo calls Dodd-Frank reforms a 'formidable task'
Daniel Tarullo examines Dodd-Frank Act financial reforms; says implementation remains a “formidable task”
Danish banks 'robust' says central bank
Financial Stability Report notes solid performance from 13 largest banks; tracks trend for declining numbers of financial institutions in the country
RBI’s Chakrabarty explores financial education in emerging markets
Deputy governor of the Reserve Bank of India discusses importance of financial education in emerging markets; says raised savings rate a “necessary condition” for double-digit growth
Finland board member considers changing role of central banks
Member of the board of the Bank of Finland examines changes in the role of central banks after the financial crisis; highlights greatly expanded demands
Central Bank of Belize publishes annual report
Annual report published by Central Bank of Belize says central bank is “cautiously optimistic” regarding economic outlook
New Central Bank of Ireland headquarters revealed
Irish central bank to spend €7 million on new headquarters in Dublin; bank expects to relocate in three to four years when building work is complete
IMF paper examines financial intermediation costs in low-income countries
Working paper considers causes of high financial intermediation costs in low-income countries; finds that lack of competition and various bank-specific factors lead to high costs
Bank of Canada paper estimates settlement balance demand
Working paper estimates aggregate demand for settlement balances; suggests that the central bank’s supply of $3 billion is reasonable
IMF’s Nehmat urges eurozone fiscal adjustment plan rethink
Deputy managing director of the IMF says some eurozone countries’ fiscal targets for 2013 may need to be altered given growth slowdown; also supports deeper European integration
Former Italian governor acquitted in market-rigging case
Antonio Fazio sees prison term for market-rigging regarding sale of Banca Nazionale del Lavoro in 2005 overturned; still facing jail in another case