Monetary policy and happiness

BankUnderground

So it follows that monetary policy decisions can affect happiness too. In a recent working paper we use a novel approach to assess how the unprecedented loosening in monetary policy in response to the 2008 global financial crisis affected the well-being of UK households.

Le Pont de Londres: monetary policy spillovers, prudential policies and the financial centre effect

BankUnderground

So can recipient countries employ prudential policies to offset monetary policy changes in centre countries? Many people (most notably Hélène Rey’s 2013 Jackson Hole paper ) have advocated taking macroprudential policies to offset this destabilising effect.

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Uncertainty and voting in monetary policy committees

BankUnderground

The right stance for monetary policy is highly uncertain, and so it is no surprise that members of monetary policy committees – like the Bank of England’s Monetary Policy Committee (MPC) – regularly disagree about the best course of action. Alastair Firrell and Kate Reinold.

PayPal Changes Seller Refund Fee Policy

PYMNTS

While the company had rolled back the policy in April, it has decided to reinstate collecting the initial 2.9 Earlier this year, PayPal updated its User Agreement to change our refund policy,” a PayPal spokesperson told The Verge. “In In line with industry practice, and according to our updated policy, we do not charge fees to process refunds, but when a seller refunds a transaction to a buyer, the fees originally paid will not be returned to the seller.

Covid-19 briefing: monetary policy strategy post-Covid

BankUnderground

This post summarises the key literature on the immediate monetary policy response to the shock, including both tools and short to medium-term strategy issues (but leaving aside the longer-term question of fiscal-monetary interactions). Monetary Policy Covid-19 monetary policy

Amazon Go policy shift seen as response to legislative pushback

Mobile Payments Today

The move by Amazon to reverse policies for its cashierless Amazon Go stores is being seen as a response to growing economic and political pushback against the impact of Silicon Valley on major segments of U.S. and global societies

Virginia On The Cutting Edge Of US Data Protection Policies

PYMNTS

Testifying in favor of the proposed law was Microsoft Senior Director of Public Policy Ryan Harkins. “We’ve Merchants now have to watch data protection policies wherever they do business.

Should Your Bank Have A Workplace Vaccine Policy?

Banker to Banker

With FDA approval and the first shipments of the COVID-19 vaccine start to hit our communities this week, the question comes up over should banks have a policy around if the vaccine should be mandated, recommended, supported, and acknowledged in the workplace?

Know Differences Between Corona Kavach Policy And Corona Rakshak Policy

BankBazaar

Corona Kavach Policy or the COVID Standard Health Policy will be mandatorily offered by all general and Health Insurance companies. Life Insurance companies cannot offer this policy. On the other hand, one can approach any insurer to buy the Corona Rakshak Policy.

Google India Boots Loan Apps Breaking Safety Policies

PYMNTS

The apps that were found to violate our user safety policies were immediately removed from the Store, and we have asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations,” Google India said in a Thursday (Jan.

Visa Has Not Changed Bitcoin Purchase Policies

Bank Innovation

EXCLUSIVE—Payment processor Visa has not changed any policies related to the purchasing of bitcoin, the company told Bank Innovation. The company still allows Visa cardholders to make cryptocurrency purchases with “credit, debit, and certain prepaid Visa products,” it said in a statement. This follows reports that Visa, alongside other credit card networks, changed how cryptocurrency […].

Privacy Policy

Fenero

privacy policy terms of serviceGeneral.

Monetary Policy Transmission: Borrowing Constraints Matter!

BankUnderground

How does the transmission of monetary policy depend on the distribution of debt in the economy? Our findings also suggest that the overall impact of monetary policy partly depends on the behaviour of house prices, and might not be symmetric for interest rate rises and falls. We use this state variable as a proxy for the share of people that are financially constrained, and use its variation over time to explore how it affects the economy’s responsiveness to monetary policy.

CFPB Updates Policy For Civil Investigative Demands

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. As a result of the policy changes, CIDs will now provide more information about the laws that might have been violated, as well as specify the activities subject to the CFPB’s authority. CFPB Civil Investigative Demands investigation law enforcement News policy violation What's Hot

China’s Xi Calls For Greater Economic Policy Coordination For G20

PYMNTS

Xi asked for a global effort to fortify the coordination of macroeconomic policy and bolster the G20’s role in economic governance. In his first speech since U.S.

EU Shakes Up Digital Policy To Get Competitive In Tech

PYMNTS

The proposed plan to revamp the region’s digital market policy also includes measures to limit data control by Google, Facebook, Amazon and other Big Tech firms. Europe Big Tech data digital policy EU European Commission News What's HotThe European Commission is planning a single European market for data, in hopes that by pooling talent, the region can compete with Big Tech in Silicon Valley and China, Reuters reported on Tuesday (Feb.

The EU’s policy on FinTech competition is …

Chris Skinner

Also released last week, the EU document has a different focus to the US one, which allowed national FinTech charter bank licenses to be … The post The EU’s policy on FinTech competition is … appeared first on Chris Skinner's blog. I cannot post a 222-page PDF from the US Government on FinTech and competition without also posting a 136-page PDF from the European Commission on FinTech and competition.

TikTok?s Data Privacy Policies Draw Eyes Of EU Authorities

PYMNTS

TikTok , the popular Chinese short-form mobile video app, is facing more scrutiny over its privacy policies, Bloomberg reported. Last month, the data-protection commission in the Netherlands opened an investigation into TikTok’s policies to protect children’s data, noting the app is popular with Dutch youth, Bloomberg reported.

EU, ECB To Probe Policy And Legal Issues With Digital Euro

PYMNTS

The European Commission and the European Central Bank (ECB) have released a joint statement saying they’re considering beginning work on a digital euro.

IBM Announces Policy Lab To Help Ensure ‘Trustworthy’ Tech

PYMNTS

With the new IBM Policy Lab, IBM is looking to regulate artificial intelligence (AI) development in a way that is safe, but does not infringe upon the creation of new technology, reports said. The think tank will gather leaders in several fields — from public policy, academia, civil society and technology. Leclerc is also chairman of the Software Alliance’s Europe, Middle East and Africa Policy Committee. The Policy Lab will be busy.

ECB Policy Maker Says Banks Must Find Libra Alternatives

PYMNTS

A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. A member of the Board of Governors of the Federal Reserve System, Brainard spoke at the ECB colloquium in Frankfurt on “ Monetary policy: the challenges ahead.” Cryptocurrency cryptocurrency european central bank Libra monetary policy News What's Hot

Microsoft, Facebook Express Frustration With Apple’s Gaming App Policies

PYMNTS

Microsoft and Facebook are grumbling publicly about fellow tech giant Apple ‘s policies restricting access to coveted slots in its App Store, as well as the access given to iPhone and iPad users.

Amazon Effect Hits Central Bank Monetary Policy

PYMNTS

For monetary policy and those interested in inflation dynamics, the implication is that retail prices are becoming less ‘insulated’ from these common nationwide shocks,” Cavallo wrote in the paper. The aforementioned impact of shorter-duration pricing at retailers has implications for monetary policies, according to Bloomberg, as automatic adjustments to what are known as external shocks means that interest rate adjustments by the central bank may lose potency.

Ticketmaster Under Fire Over Refund Policy

PYMNTS

As the COVID-19 pandemic forces cancellations and postponements of events amid lockdowns, Ticketmaster is being criticized over its refund policy. He said its new refund policy is making it harder for customers to get their money back. Deceptively changing the language of refund policies and excluding postponed or rescheduled events are forms of corporate robbery,” Skoufis told the newspaper in a statement.

Lloyds Of London Looks At Driverless Car Policies

PYMNTS

Chief Executive Officer John Neal said that the 330-year-old insurance market is in discussions with automakers about different policies as car ownership changes. While some experts have said that driverless cars may slash the need for auto policies, Neal believes that autonomous vehicles will simply result in demand for a different product — not the end of car insurance.

German Rep Resigns From ECB Board Amid Policy Disputes

PYMNTS

Sabine Lautenschläger, Germany’s representative on the European Central Bank’s executive board, has resigned over the institution’s changes to its monetary policy. Lautenschläger’s decision to step down is proof that there is a deep division within the institution’s top ranks over its recent decision to loosen monetary policy. International european central bank executive board Germany monetary policy News What's Hot

Google Play Policy Changes Will Extend Gambling Apps Across More Countries

PYMNTS

New policy changes on Google Play will enable gambling apps to be available in its store in more countries effective March 1, extending availability to the U.S.

Could central bank digital currencies kill monetary policy?

Chris Skinner

The Bank makes clear it’s not the opinions of the institution … The post Could central bank digital currencies kill monetary policy? I didn’t realise until the other day that the Bank of England has a blog Bank Underground. Finally, a boring old British bank with a blog. Not a consumer bank of course – none of those blog – but a good old central bank.

MoviePass Changes Ticket Policy

PYMNTS

After making changes to its Android app and terms of service, MoviePass is adding another modification to its platform: Subscribers can now only watch a particular movie through its movie ticket subscription service one time, Android Central reported. “We We recently updated our Terms of Service to reflect that MoviePass subscribers are only permitted to see a select movie in theaters once with your MoviePass,” the company wrote on its website. “We

Choosing from a varied toolkit: assessing China’s overall policy stance

BankUnderground

This post examines how policy in China supported the Chinese economy prior to the Covid-19 pandemic, drawing on a newly developed toolkit. This topic is particularly important for China, where economic developments have a significant impact on the rest of the global economy , but where assessing the full spectrum of policy – monetary, regulatory and fiscal – is difficult. Monetary policy and financial conditions. Chart 1: Broad stance of Chinese policy. Fiscal policy.

Apple Card’s New Privacy Policy Allows More Data Sharing With Goldman, Adds Transaction Details

PYMNTS

Apple has updated Apple Card’s privacy policy to allow more sharing of anonymous data with partner Goldman Sachs, according to a report. The change will separate Apple Card ’s privacy policy from that of Apple Pay; the two used to have identical policies. You may be eligible for certain Apple Card programs provided by Goldman Sachs based on the information provided as part of your application,” Apple’s new policy says.

The birds, the bees and the Bank? The birth-rate channel of monetary policy

BankUnderground

In total, we estimate that monetary policy increased the birth rate in the following three years by around 7.5%. Thus, when the Bank of England lowered its policy rate 4.5 Our paper uses these pre-determined differences in mortgage choices across local authorities and age groups as a “natural experiment” to examine how monetary policy affects families’ fertility decisions over the next three years. Policy implications. Fergus Cumming and Lisa Dettling.

New Facial Recognition Policy Signed Into Law In Washington State

PYMNTS

Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post.

Nothing to suggest trickle-down monetary policy will suddenly work

American Banker

Crisis management Monetary policy Federal Reserve Dodd-Frank Economy CoronavirusThe Fed must set up a ‘family financial facility’ that sends billions to households and small businesses so banks don’t misdirect relief funds.

EU Digital Services Act Discussion Could Be Start Of Seismic Policy Change

PYMNTS

For Big Tech, there’s just a hint of a bit of a reprieve in Europe. News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. 24 to Dec 2.