The Federal Reserve has announced that it will conduct a series of daily monetary operations starting April 25, 2024. These operations are aimed at maintaining the federal funds rate within the target range set by the Federal Open Market Committee (FOMC).
CODI has become operational this month, representing the result of extensive collaboration and effort among policymakers, lawmakers, regulatory authorities, industry bodies, and member banks. The support, input, and constructive criticism received over the past few years have been crucial in developing a deposit insurance scheme that demonstrates a shared commitment to strengthening the resilience of the financial sector.
The results for April 2024 regarding the monitoring of maximum interest rates on deposits in Russian rubles by the top ten credit institutions attracting the largest household deposits have been released.
In a recent economic note, researchers have analyzed shifts in the primary drivers of export and import volumes. The study utilized an error correction model to assess changes in elasticities over time.
The National Treasury Employees Union (NTEU) has expressed concerns over the Office of Personnel Management's (OPM) proposed directive, known as Directive-BA 200. The union believes that this directive could negatively impact federal employees' rights and working conditions.
Elevated commodity prices have played a crucial role in mitigating structural challenges within the South African economy. From mid-2020 to late 2022, key export commodities such as rhodium, palladium, thermal coal, and iron ore experienced significant price increases. These surges helped maintain the South African Reserve Bank (SARB) Index of Commodity Prices (ICP) at high levels.
The Federal Housing Finance Agency (FHFA) has announced a proposed rule that aims to improve the capital planning practices of Fannie Mae and Freddie Mac. This proposal, known as the Enterprise Capital Planning Rule, is designed to ensure these entities are well-prepared for financial challenges.
The Bank of Russia has announced changes to the regulation of credit institutions' open currency positions (OCPs). The new regulations introduce a limit on balance-sheet OCPs, accounting for 50% of equity, and establish criteria for fictitious and unreliable hedging of foreign exchange risk. These measures are designed to better balance the currency structure of credit institutions' assets and liabilities while preventing understatement of foreign exchange risk.
South African Reserve Bank Economic Notes are concise analyses crafted for internal discussion and to foster debate. These notes are authored by staff members of the South African Reserve Bank or visiting fellows and are occasionally made available to the public.
The deliberations of the Bank of Canada's Governing Council have resulted in a fixed announcement date for the monetary policy decision on April 10, 2024. The Council, led by Governor Tiff Macklem, engaged in discussions surrounding the global and Canadian economies, as well as inflation outlooks.In analyzing the international economy, the Council noted projections of stronger growth in the US and gradual improvements in the euro area, while acknowledging challenges faced by China's economy. Governor Macklem and other members highlighted the risk of stronger US GDP growth...
The South African Reserve Bank's (SARB) Monetary Policy Committee announced a shift in its preferred inflation target in July 2017. Before the third quarter of 2017, the committee maintained an inflation targeting range of 3–6%. However, from that point onward, the focus shifted to the midpoint of this range, setting 4.5% as the preferred target.
The Reserve Bank of Australia (RBA) has recently released a report focusing on the advantages and obstacles of connecting fast payment systems internationally for cross-border payments. According to the report, linking these systems has the potential to enhance the speed and transparency of cross-border transactions, benefiting both users and service providers.The report emphasizes the significance of well-designed governance, scheme rules, and payment processing capabilities in managing risks and ensuring a smooth cross-border payments experience. However, challenges...
The latest Composite Business Cycle Indicators report for April 2024 has been released. According to the data, there are no significant changes from previous months.
Board Member NOGUCHI delivered a speech in Saga on April 18, 2024, focusing on economic activity, prices, and monetary policy in Japan.In the speech, NOGUCHI stated, "The current economic conditions require careful monitoring and assessment to ensure stability and growth."According to the Bank of Japan, the full text of NOGUCHI's speech is now available for review.
The Monetary Policy Review for April 2024 has been released. The document outlines the current economic conditions and the measures being taken to address them.
The U.S. Department of the Treasury has announced a proposed directive regarding Form BA 400, aimed at enhancing transparency and efficiency in financial reporting. This proposal seeks to update the current regulations governing the submission of this form.
In 2013, South Africa aligned its bank regulatory framework with the Basel III accord. This move introduced capital and liquidity adequacy requirements to manage the financial cycle through macroprudential policy. The regulations aim to enhance banking system resilience but may also alter lending behaviors, impacting loan availability and terms for specific credit market segments. This issue is particularly relevant in emerging markets like South Africa, where market segmentation and inequality are pronounced.
The South African Reserve Bank (SARB) has announced a proposed guidance note on Form BA 400. The aim is to enhance the accuracy and reliability of data reported by banks.
Results from the Market Participants Survey for the first quarter of 2024, conducted from March 7 to 15, 2024, have been released, providing insights into the economic outlook for Canada. The survey, based on questionnaire responses from approximately 30 financial market participants, revealed various forecasts and probabilities regarding GDP growth, inflation, monetary policy, and financial assets.According to the survey, respondents provided their forecasts for real GDP growth in Canada. The median forecast for the end of 2024 is 1.0%, with a 25th percentile forecast of...