BIS e-mail alert 9 September 2014 09Sep/Developments in collateral management services 09.09.14 Abstract of Developments in collateral management services, September 2014. In a report published today, the Committee on Payments and Market Infrastructures (CPMI) examines developments in the collateral management services industry and the attendant potential settlement-related benefits and risks. 09Sep/Developments in collateral management services 09.09.14 Press release about the CPMI report Non-banks in retail payments (BIS Press Release 9 September 2014) 09Sep/Non-banks in retail payments 09.09.14 Press release about the CPMI report Non-banks in retail payments (BIS Press Release 9 September 2014) 09Sep/Amando M Tetangco, Jr: Building a collective brand for the banking industry 09.09.14 Speech by Mr Amando M Tetangco, Jr, Governor of Bangko Sentral ng Pilipinas (the central bank of the Philippines), at the 40th anniversary celebration of the Bank Marketing Association of the Philippines, Manila, 5 September 2014. 09Sep/Vítor Constâncio: Understanding the yield curve 09.09.14 Opening address by Mr Vítor Constâncio, Vice-President of the European Central Bank, at the ECB workshop Understanding the yield curve: what has changed with the crisis?, Frankfurt am Main, 8 September 2014. 09Sep/Daniel K Tarullo: Dodd-Frank implementation 09.09.14 Testimony by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, US Senate, Washington DC, 9 September 2014. 09Sep/Barry Whiteside: Promoting financial inclusion in Fiji 09.09.14 Opening speech by Mr Barry Whiteside, Governor of the Reserve Bank of Fiji, at the Ra Financial Inclusion Exposition, Rakiraki, 28 August 2014. 09Sep/Non-banks in retail payments 09.09.14 Abstract of Non-banks in retail payments, September 2014. The Committee on Payments and Market Infrastructures (CPMI) has issued the report Non-banks in retail payments to examine the role of non-banks in retail payment services and analyse the implications of the growing importance of these entities in retail payments. 09Sep/Customer Support Officer (50%) 09.09.14 The BIS seeks a Customer Support Officer (Banking) for the BIS headquarters in Basel, Switzerland (50%). Fixed-term for 1 year. Application deadline: 3 October 2014 09Sep/The effects of intraday foreign exchange market operations in Latin America: results for Chile, Colombia, Mexico and Peru 09.09.14 Abstract of BIS Working Papers No 462. This paper analyses the effects of sterilised, intraday foreign exchange market operations (non-discretionary and discretionary) on foreign exchange returns and volatility in four inflation targeting economies in Latin America. The distribution of exchange rates during intervention and non-intervention days are first compared, and then event study regressions are used to estimate the impact of intervention (and macro surprises) on exchange rate returns and exchange rate volatility as well as on foreign exchange market turnover (in Colombia). In general, the results suggest that the impact of both non-discretionary and discretionary operations is at times significant but transitory. However, an analysis of Chiles experience suggests that the announcement effects of even non-discretionary programmes may be significant and persistent. 09Sep/A policy model to analyze macroprudential regulations and monetary policy 09.09.14 Abstract of BIS Working Papers No 461 We construct a small-open-economy, New Keynesian dynamic stochastic general-equilibrium model with real-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four key features. First, it allows for non-trivial interactions ... 09Sep/Traditional and matter-of-fact financial frictions in a DSGE model for Brazil: the role of macroprudential instruments and monetary policy 09.09.14 Abstract of BIS Working Papers No 460 This paper investigates the transmission channel of macroprudential instruments in a closed economy DSGE model with a rich set of financial frictions. Banks decisions on risky retail loan concessions are based on borrowers capacity to settle their debt with labor income. We also introduce frictions in banks optimal choices of balance sheet composition to better reproduce banks ... 08Sep/Charles I Plosser: The economic outlook 08.09.14 Speech by Mr Charles I Plosser, President and Chief Executive Officer of the Federal Reserve Bank of Philadelphia, at the Pennsylvania Association of Community Bankers 137th Annual Convention, Amelia Island, Florida, 6 September 2014. 08Sep/Sabine Lautenschläger: Interview with Deutschlandfunk 08.09.14 Interview by Ms Sabine Lautenschläger, Member of the Executive Board of the European Central Bank, with Deutschlandfunk, conducted on 4 September and aired on 7 September 2014. 08Sep/Spillovers, capital flows and prudential regulation in small open economies 08.09.14 Abstract of BIS Working Papers No 459 This paper extends the model of Aoki et al. (2009) considering a two sector small open economy. We study the interaction of borrowing, asset prices, and spillovers between tradable and non-tradable sectors. Our results suggest that when it is difficult to enforce debtors to repay their debt unless it is secured by collateral, a productivity shock in the tradable sector generates an increase in asset prices and leverage that spills over to the non-tradable sector, generating an appreciation of the real exchange and an increase in domestic lending. Macro-prudential instruments are introduced under the form of cyclical loan-to-value ratios that limit the amount of capital that entrepreneurs can pledge as collateral. Cyclical taxes that respond to the movements in the price of non-tradable goods are analysed. Simulation results show that this type of instruments significantly lessen the amplifying effects of borrowing constraints on small open economies and consequently reduce output and asset price volatility. Copyright © 2014 Bank for International Settlements, All rights reserved. Our mailing address is: Bank for International Settlements Centralbahnplatz 2 Basel 4002 Switzerland
Posted on: Tue, 09 Sep 2014 15:16:34 +0000
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