Open-market operations
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials
ECB’s open market operations often raise banks’ liquidity – paper
Asset “haircuts” imposed by ECB often smaller than those in repo markets – researchers
Philippines governor announces recovery from cancer
Espenilla reveals cancer treatment, and says recent policy reforms will not fuel rising inflation
Obituary: William McDonough (1934–2018)
The former New York Fed president helped avert several crises during his time in office
PBoC tightens bond trading rules, relaxes renminbi controls
China’s financial regulators continue their efforts to deleverage the economy and promote renminbi internationalisation
Philippines set to launch repo market
The government securities repo programme will be launched on November 27, as a part of the local currency debt and foreign exchange market reforms
Draghi’s ‘whatever it takes’ is not credible – Nobel laureate
Chris Sims says ECB cannot be sure it will be able to stop a run on the euro until it is backed by a central eurozone fiscal authority
Central banks could intervene on repo market function – BIS study
Markets still in a “state of transition” but some central banks might want to take action to mitigate adverse effects, CGFS report says
Daily open market operations paying off – National Bank of Denmark
Introduction of daily open market operations has smoothed liquidity management, stabilising the money market reference rate
PBoC’s hike signals policy management shift
The decision by China’s central bank to raise a suite of interest rates around Chinese New Year marks a shift towards market-based tightening, argues Hui Feng
Robert Pringle's Viewpoint: Haldane plus Rajan = New model central bank?
Robert Pringle offers an alternative to Bank of England chief economist Andrew Haldane’s scenarios for the next 25 years of central banking
BoE’s Haldane sees greater role for central banks as risks shift
Central banks may have to address different episodes of financial instability as risks shift from the banking sector to other financial players, says BoE chief economist Andrew Haldane
PBoC launches short-term liquidity operations
China’s central bank now offers repos and reverse repos with maturities of less than seven days; seen as a step towards interest rate liberalisation
NY Fed adds two primary dealers
MF Global and Société Générale Americas Securities join New York Fed’s cadre of primary dealers
India’s Mohanty to lead review of key open market operation
Reserve Bank of India executive director Deepak Mohanty will head working group assessing liquidity adjustment facility; review will examine method in light of changing liquidity dynamics
ECB’s González-Páramo highlights flaws in collateral framework
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
NY Fed to start second set of reverse repo tests
New York Federal Reserve will conduct further tests of reverse repurchase operations tool in preparation for eventual exit from monetary support; tests will involve agency MBS, unlike previous trial
ECB closes in on inferior collateral with new haircut scheme
European Central Bank’s new discount schedule increases haircuts levied on troublesome collateral, such as asset-backed securities; analysts expect move to discourage pledging of risky assets
BoE expands discount window collateral list
Bank of England to accept loans to individuals and businesses as collateral for discount window in order to provide more liquidity in times of stress
BoJ board split on doubling liquidity scheme
Bank of Japan fixed-rate funds operations scheme to be doubled to ¥20 trillion, two board members dissent
Deputy: Canada could keep new OMOs post crisis
Bank of Canada’s David Longworth says crisis-fighting operations could stay part of central bank’s toolkit
ECB wants more info on collateral - report
The European Central Bank (ECB) could toughen up its collateral rules by forcing banks to disclose more detail about the instruments provided in return for the Frankfurt-based institution's funds, say reports.
Bundesbank makes biggest profit since 2001
The Bundesbank posted €6.3 billion ($8 billion) profit last year, it emerged on Tuesday.
Kuwait enhances operations to restore liquidity
The Central Bank of Kuwait on Wednesday has launched new open-market operations in a fresh bid to shore up liquidity.