Financial crisis
Nordic-Baltic crisis simulation seeks to reinforce collective response
Nordic-Baltic Stability Group carried out first region-wide crisis scenario in January
Egypt sharply cuts rates on lower inflation
Central bank reduces key overnight deposit rate by 100 basis points to 15.75%
ECB paper presents new financial crisis early warning system
Model aggregates five types of systemic risk indicator, researchers say
Zhou Xiaochuan wins 2019 lifetime achievement award
The former PBoC governor served for a record 15 years, implementing sweeping reforms
Lifetime achievement: Zhou Xiaochuan
Former PBoC governor stands out for his high levels of integrity, intellectual rigour and bold reforms
BoE’s Taylor says external members are now better prepared
External members are better briefed by BoE staff, but still avoid “group think”
Negative rates could have sped up US recovery – San Fran Fed paper
Output gap could have been reduced by as much as half compared to actual figures, researcher says
Irish central bank makes lenders pay €647 million over mortgage scandal
Regulator moves on to enforcement actions after securing compensation for 40,000 customers
Unconventional policy should be used rapidly – Fed paper
Researchers find 20–50% chance that US will face zero lower bound in next decade
A dual-currency system would make negative rates work – IMF research
Proposal would free monetary policy from lower zero bound when dealing with a recession
Central bank of the year: Monetary Authority of Singapore
Fintech pioneer has strong monetary policy, financial stability and supervisory record
BIS study asks whether central bank crisis actions de-risk the balance sheet
Authors study whether a central bank can influence its own risk, or if this is “wishful thinking”
BoE opens doors for debate on the future of central banking
Event breaks new ground in central bank engagement with the public
Establishing the Fed worsened the Great Depression – St Louis Fed paper
Setting up lender of last resort reduced banks’ incentive to manage risk, paper argues
Fall in technology use helped slow Canadian productivity, BoC paper finds
But slowdown in labour productivity began eight years before fall in technology use – researchers
BoE’s leveraged loan research draws interest from overseas
UK exposures are modest but firms in US and Japan have bigger holdings of CLOs
Fed’s Quarles outlines ‘building block approach’ to insurance regulation
Regulator chose not to copy and paste banking sector regulations onto insurers, says vice-chair
Former IMF chief blames Bank of Spain in Bankia case
Board followed central bank instructions in merger and failed IPO, says Rodrigo Rato
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave the presidency of the international lender in July 2022; further appointments in UK, Vietnam and Ghana
New governor starts work at Belgian central bank
Former vice-governor Pierre Wunsch is backed by centre-right Francophone party
Conventional models beat machine learning in predicting crises, paper finds
Bundesbank paper contrasts performance of logit approach to machine learning
Staff cuts made at majority of central banks since 2013
But staff numbers grow at several banks, including ECB and Bank of England
Euro area wage growth appears sustainable – ECB bulletin
ECB wage analysis shows increases are no longer being driven primarily by ‘wage drift’
Diverging regulatory policies could spell trouble for banks, report says
Deloitte says there are obvious signs of regulatory divergence