Macro-prudential policy
Podcast: Preventative measures
Many central banks currently lack a key power that could help them deal with crises, argues Yale University’s Andrew Metrick
New Zealand central bank lowers loan-to-value ratios
RBNZ governor says housing risks are falling, but says banks may need higher capital ratios
Podcast: Crisis lessons
Central banks may have learned the lessons of the crisis, but are they fully on top of the risks?
Bank of Canada to weigh up alternatives to inflation targeting
Central bank will hold “full horse race” between nominal GDP targeting and other alternatives, Wilkins says
Podcast series: central banking in the post-crisis world
In a new series, Central Banking speaks to Yale’s Andrew Metrick about how the discipline has changed over the past decade
Fed proposes further regulatory loosening for small firms
Governor Lael Brainard voted against the last proposed reductions in regulation
Financial regulation reform must not stop, Olli Rehn tells IMF
Foreign-denominated lending may threaten emerging markets, Finnish governor warns
Emerging market governors back targeted capital controls
Governors says capital flow measures can be important tools in some circumstances
Iceland to merge central bank and regulator
Reforms aim to boost trust in institutions by reforming monetary and macro-prudential policy
Macro-prudential forex rules may shift vulnerability – BoE paper
Study of forex rules finds they may succeed in their primary goal, but shift risks elsewhere
Prudential regulation subject to ‘leakages’ – BIS paper
Net effect of tighter prudential regulation is positive for economic growth, paper finds
IMF paper explores interaction of capital controls and macro-pru
Capital controls do not “consistently” mitigate potential increases in cross-border flows
Draghi calls for new macro-prudential tools
Policy-makers do not fully understand “shadow banking” sector, Draghi tells ESRB
Stronger macro-prudential intervention may be needed – Minneapolis Fed paper
Shadow banking sector takes greater risks in times of stringent macro-prudential policy for banks, researcher finds
ECB should not be lead agency for EU financial stability – Mersch
Democratically elected institutions should play main role, ECB board member says
Fed paper presents method to better estimate systemic risk
Authors find their approach outperforms several commonly used systemic risk indicators
BIS paper weighs economic impact of macro-prudential policy
Cutting the LTV ratio leads to reduced output in emerging markets, authors find
ECB calls for changes to draft investment firm regulations
EU proposals omit macro-prudential measures and could cause statistical problems, ECB says
Thailand’s macroeconomic policy at a ‘turning point’ – Santiprabhob
Policy will have to evolve to support the economy rather than stimulate it, governor says
Bank of England forms new enforcement committee
Six-member committee will rule on contested enforcement cases
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
Branching out: foreign banks seek shelter from Fed rules
Foreign banks stashing repo businesses within their branches, outside Fed’s full gaze
Singapore moves to curb private housing boom
Buyers have to pay higher taxes and face tougher loan-to-value limits
Higher capital ratios trade growth for stability – Philadelphia Fed paper
Better capitalised banks reduce lending rates, researcher says