National Bank of Denmark
Danish research examines how central banks can impact market liquidity
Price of liquidity tends to change on days when central bank is operating in markets, with aggregate liquidity and payments activity also important, PhD thesis finds
Danish central bank urges Basel to rethink parameter floors
Lars Rohde warns parameter floors in IRB approaches could create an incentive for greater risk-taking in some markets, in response to Basel Committee consultation
Negative rates fail to dent Danish bank profitability
National Bank of Denmark concerned banks may be pursuing return targets too aggressively, as profits hit highest level since 2008 crisis; banks reshaping business models to avoid low-rate impact
Denmark outsources coin minting to Finland
Mint of Finland wins tender to produce krone coins, as National Bank of Denmark seeks to cut costs by closing down its coin and banknote operations
IMF staff call for new macro-prudential tools in Denmark
Danish authorities told to consider placing limits on debt to income ratios; macro-prudential measures suggested by IMF staff to complement existing regulation
Senior IMF figures support nominal negative rates
Negative nominal interest rates can help deliver additional monetary stimulus, senior figures at the IMF "tentatively" conclude
Rohde laments Denmark’s lack of banking reform clout
National Bank of Denmark governor says Danish system of mortgage credit does not necessarily fit well with Basel framework, but the country has limited options to influence reform process
Equities support Danish central bank's profits in 2015
Move into riskier assets contributes to profits in 2015, in addition to significant returns from defending the krone; costs are also on the rise following major IT project
Denmark focuses on long-dated issuance amid low rates
National Bank of Denmark’s 2016 debt issuance strategy uses long maturities to reduce interest rate risk as low rates hold down costs; return to more normal footing after last year’s suspension
Danish economists test measure of systemic risk
National Bank of Denmark paper uses ‘SRISK’ measure to assess systemic risk in the Danish financial sector, finding it was a good predictor of banks that needed bailing out
Reserve manager of the year: National Bank of Denmark
The National Bank of Denmark's new risk budget-based investment strategy stood up well to the unprecedented flows of funds into and out of the country in 2015.
Denmark hikes deposit rate after record drop in reserves
Central bank lifts deposit rates and reduces banks’ current account limits; capital outflows accelerated in December following ECB actions
Paper studies central bank risk and return over 175 years
Research uses the National Bank of Denmark as a case study, exploring how its balance sheet and profit from financial items evolved between 1839 and 2014
Rohde says resolution offers ‘genuine alternative’ to granting emergency liquidity
With the ability to recover or resolve firms in an orderly fashion, the National Bank of Denmark finds itself with an alternative to granting emergency liquidity assistance, governor says
National Bank of Denmark to establish research unit
Central bank looks to bolster analytical work with new unit; advertises for a head of research with a track record of academic achievements and fluency in English to recruit and lead new team
Denmark’s Rohde concerned by lack of bail-in tool at mortgage banks
European standard for loss-absorbing capital does not apply to Danish mortgage banks, meaning resolution frameworks have to make do without bail-in
National Bank of Denmark confident it possesses ‘necessary tools’ to defend currency
The ministry of finance will resume issuing government bonds in October after measures to stabilise the krone have ‘desired effect’
Danish paper explores prevalence of interest-only mortgages
Interest-only loans lead some families ‘to save less and increase their leverage’ assets, which could pose a financial stability risk, research shows
National Bank of Denmark calls end to crisis measures
Central bank has moved from buying to selling foreign exchange in recent months, opening up room to return deposit limits to more normal levels and re-start government bond issuance
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
National Bank of Denmark warns fierce competition may damage lending standards
Financial stability report urges banks to build buffers and not cut corners despite the highly competitive, low interest rate environment
Danish payments report details challenging shift to real time
Completed in November 2014, ‘Straksclearing’ allows real-time settlement of retail payments, but has run into a few issues; National Bank of Denmark also in process of overhauling RTGS system
People: Fed names payments director; Denmark appoints assistant governors
Federal Reserve chooses Gordon Werkema to lead its new payments strategy; Denmark promotes director of administration and adds second assistant governor; and more
Danish annual report highlights move into equities
National Bank of Denmark implemented new investment strategy in 2014, adding riskier assets including equities and lower-rated government bonds to reserves