Euro
Trump says Federal Reserve should give him ‘some help’
US President says central bank should hold policy rates while he negotiates trade deals
Eurozone mortgage lending back to pre-crisis levels – ECB
New loans reached 4.5% of GDP in the year to March 2018; average since 2001 is 4.4%
Shock end to euro floor avoided ‘enormous’ speculative attack, says SNB’s Jordan
Swiss central bank chairman believes sudden removal of forex controls was least bad policy option and limited reputational damage
SNB chairman dismisses calls for revised inflation targets
Jordan says raising targets would 'harm credibility' built up over decades; sees room for more negative rates
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
Regling defends ESM’s role in safeguarding eurozone integrity during crisis
ESM chief says completing banking union would reduce risk of future financial turmoil
Book notes: Unfinished business, by Tamim Bayoumi
Anand Sinha praises Bayoumi’s analysis of how the euro crisis and US housing crash were, in fact, intertwined
Eurozone requires both banking and capital markets union – panellists
Status quo is highly procyclical and hampers risk sharing, IMF conference hears
Eurozone governments’ post-crisis fiscal policies were ‘self-defeating’
Policies ended up being contractionary, IMF-organised conference hears
Italy’s trial
Francesco Papadia argues Italy is likely to suffer financial and economic damage under its new political leadership, but will still not leave the euro
Sia given green light to access Eurosystem’s instant payment system
ECB permits first network provider to give access to new Tips platform
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say delegates attending Nalm Americas
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
Italian governor warns country must not abandon EU rules
Former IMF official named as interim prime minister by Italy’s president
Risk-based supervision focus report 2018
This first Central Banking journal focus report on risk-based supervision analyses how central banks, financial regulators and financial institutions can streamline efforts to meet onerous new regulatory and supervisory data requirements.
New risks and opportunities
Central Banking convened a panel of experts to discuss how central banks and other authorities are making use of new risk-based assessment techniques to remain ahead of the fintech curve.
Artificial intelligence: The future of regulation?
The raft of new rules imposed on regulated financial institutions in the aftermath of the global financial crisis has a huge compliance cost. Could artificial intelligence offer efficiency gains?
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
The move to risk‑based supervision
Rapid regulatory change has led to a steep increase in data volumes and policies, and a new environment has opened up for discussions on effective regulatory supervision and a transition to risk-based supervision.
Andreas Dombret on ECB policy, deposit insurance and Basel III
The Deutsche Bundesbank executive board member speaks about exiting QE, the viability of European deposit insurance, the German banking system and doing a deal on Basel III
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
European Commission proposes uniform cost for trans-EU euro payments
Dombrovskis also calls for EU-wide transparency on currency conversions
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack