Macro-prudential policy
Fed research deputy director testifies on triparty repo market
Deputy director of the Fed’s research and statistics department outlines efforts made towards reform and oversight of the US triparty repo market
Central Bank of Chile paper discusses adaptations to macro-prudential policy
Research highlights importance of considering non-core bank liabilities in setting macro-prudential policy; suggests levy on such liabilities would have counter-cyclical benefits
BoJ deputy governor highlights benefits of financial co-operation
Kiyohiko Nishimura emphasises positive results of co-ordinated macro-prudential policy action in Asia; says links between Latin America and Asia are also important
Spanish governor admits central bank’s failings
Luis Linde addresses past errors made by the Bank of Spain with regard to supervision of the financial system; says hindsight would mean a different approach to counter-cyclical provisioning
IMF calls for policy action to counter looming downside risks
Latest World Economic Outlook and Global Financial Stability Report say further action is necessary by policy-makers in Europe, the US and emerging markets, as downside risks 'loom large'
IMF paper assesses macro-prudential models in Latin America
Working paper evaluates two major Latin American policy models, one of institutional separation and one of integration; suggests areas for improvement in both models
ECB paper models policy interaction
Working paper examines the benefits of co-ordinating monetary and macro-prudential policies; finds separation of regimes can damage macroeconomic stability
IMF paper studies effects of macro-prudential policy
Working paper studies effectiveness of macro-prudential policy in an environment of financial innovation; identifies various factors determining policy outcomes
RBA deputy governor warns of regulatory side-effects
Reserve Bank of Australia’s Philip Lowe reviews impact of new financial regulation; says although new rules likely to increase stability, regulators must be aware of possible negative consequences
Bulgarian governor praises success of macro-prudential policy
Ivan Iskrov describes Bulgarian experience of macro-prudential policy; says Bulgarian National Bank was ahead of curve in regulating financial system
IMF paper assesses drivers of banking equity returns
Working paper studies factors behind movements in bank equity prices; finds that despite general 'dismal' performance, equities of better capitalised and less leveraged banks perform best
Sweden joins opposition to European banking union
Swedish government opposes European banking union proposals; Czech National Bank also expresses concerns
RBI executive director weighs financial stability objective
Deepak Mohanty considers financial stability as part of a central bank’s mandate; emphasises importance but says price stability should not be subordinated
Bank boards have little time to focus on business risk, says Scotiabank chief
Canadian bank chief believes pressing need to meet raft of new regulations means top bankers have little time to focus on business risks; says ‘small’ and ‘uncomplicated’ banks fail too
IMF paper assesses impact of financial sector size
Working paper examines the effect on growth of varying sizes of financial sectors; finds that above a certain threshold, financial sectors have a negative impact on growth
Riksbank’s Ingves considers bank regulation lessons
Stefan Ingves discusses banks’ role in financial crisis; warns of 'delay and lingering uncertainty' in European banking reform efforts
UK banks must remain under national supervision, says Lloyds chief
Lloyds Banking Group chairman says it is 'crucial' UK banks remain under national supervision; calls for more forward-looking regulation
MAS managing director on challenges to Islamic finance
Managing director of the Monetary Authority of Singapore, Ravi Menon, highlights challenges facing Islamic finance sector; emphasises need to adapt to changing global environment
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 York Fed article proposes capital regulation framework
Article suggests new framework for regulating capital; attempts to limit risk-taking while preserving creditors’ disciplining incentives
UK FPC member discusses role of the committee
Alastair Clark, a member of the Bank of England’s Financial Policy Committee, considers new body’s financial stability role and the difficulties it faces
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
BIS paper studies financial transmission channels
Working paper analyses role of financial system in affecting economic growth and stability; emphasises importance of financial sector in macroeconomic models