Financial Stability
BoE's Haldane: pay bankers in CoCos
Bank of England executive director for financial stability Andrew Haldane says contingent capital bonds should be made an element of bankers' pay
Bank Negara Malaysia - Financial Stability Payment Systems Report (2010)
Bank Negara Malaysia Financial Stability Payment Systems Report 2010 says risks to financial stability will be externally driven
Establishment of Southern African currency union delayed: Sarb’s Mminele
South African Reserve Bank deputy governor Daniel Mminele says timeline for adoption of Southern African Development Community single currency will be reviewed
Buba’s Weber on central banks' stability mandate
Bundesbank president Axel Weber says central banks will continue to play prominent role in new regulatory and supervisory framework
Future of macro policy far from set, says IMF’s Blanchard
Exploration is the order of the day, IMF chief economist Olivier Blanchard claims; predicts central role for behavioural economics
Barclays shows interest in Maiden Lane II assets: reports
Reports that Barclays may consider an offer for residential mortgage-backed securities held in New York Federal Reserve’s Maiden Lane II portfolio could thwart AIG bid
SSRN paper on reaping benefits of cross-border banking
Social Science Research Network study examines costs and benefits associated with cross-border banking
Bank’s Cleland: £5 note replenishing scheme “on track”
Bank of England head of banknotes division Victoria Cleland says £5 note replenishing scheme was on schedule but may need to be stepped up
FSB criticises industry for lack of progress on risk disclosure
Financial Stability Board says more action needed on liquidity, counterparty, structured credit disclosure practices
Interview: Daniela Russo
The European Central Bank's director-general of payments discusses the CPSS-Iosco report on regulating financial market infrastructures
ESRB discusses regulatory division of labour; names external experts
European Systemic Risk Board’s second meeting covers how regulatory responsibilities will be split; Balcerowicz, Brunnermeier and Wyplosz among external experts
US Treasury to offload $142 billion in agency MBS
US Treasury announces plans to wind down portfolio of agency securities bought from beleaguered Fannie Mae and Freddie Mac during crisis; move not expected to impact Fed policy
IMF’s Lipsky warns of widening global imbalances
IMF first deputy managing director John Lipsky says advanced and emerging economies must rethink growth strategies to prevent global imbalances from widening
BoE on China’s growth path
Bank of England study says China may prefer a slower path of adjustment than deficit countries to rebalance global economy
G-7 pledges intervention to stem yen appreciation
Finance ministers and central bank governors say they will cooperate to counter volatility of Japanese currency in aftermath of Tohoku earthquake
FSoC to take ‘flexible approach’ to identifying systemically important financial market infrastructures
US Financial Stability Oversight Council outlines criteria for what qualifies as systemically important financial market infrastructure
Bank’s Bailey stresses importance of forward-looking approach to regulation
Bank of England executive director of banking services, Andrew Bailey, says regulation should be more forward-looking
EBA stress tests: adverse scenario toughened up
Stress tests underway for European banks use harsher adverse scenario and tighter capital rules than tests carried out last year
UK FSA’s Turner puts forth case for more discretion
Chairman of the Financial Services Authority Adair Turner argues discretion vital if regulators are to temper the excesses of credit cycles
RBI’s Chakrabarty calls for more refined approach to liquidity management
Reserve Bank of India deputy governor Kamalesh Chakrabarty says more sophisticated approach to liquidity management needed to avoid market contagion
Reserve Bank of Australia – Bulletin (March 2011)
Reserve Bank of Australia paper says growth in Australia’s resource sector reflected a sharp rise in global commodity prices
It is the supervision of the banks, not their structure, that is most important
A separation between retail and investment banking would in itself do nothing to correct bad management practices and would quite possibly fail in its aim to protect the public purse, Roger Alford argues.
ECB opines on how euro crisis facility should work
European Central Bank proposes IMF involvement in order to ensure facility does not promote moral hazard
An overemphasis on risk models was the key flaw in the regulatory architecture
Risk models are useful for banks’ risk managers, but regulators should beware, Brandon Davies notes