Financial Stability
Central Bank of Egypt advises banks to close amid continuing protests
Some banks in Egypt close on Sunday and Monday on central bank guidance; Moody’s downgrades country on fears over political situation
Fed, Greenspan blamed for crisis by bulk of crisis commission
Six of ten members point finger at weak regulation and lack of awareness as to the goings-on in markets as causes of the crisis; four dissent, saying under-regulation claims overstated
RBNZ’s Bollard on international and domestic risks in 2011
Reserve Bank of New Zealand governor Alan Bollard identifies key risks to New Zealand economy in 2011
Paper fault has not damaged business, says defiant De La Rue
Banknote printer insists fault which has hammered share price and fuelled takeover spat with French rival has not blighted business; discussions with RBI “ongoing”
FCIC report: the major findings
Risk summarises the major conclusions from the commission report
Wellink calls on Africa to address sifis
Netherlands Bank president Nout Wellink calls on African region to take action against financial institutions that pose systemic threats
Ex-Vietnam governor linked to Securency bribery scandal
Payments from polymer-maker Securency alleged to have been channelled to fund education of former State of Bank of Vietnam governor Le Duc Thuy's child
Basel III should aim higher on capital targets: Bank research
Discussion paper published by Bank of England and co-authored by external rate-setter David Miles suggests Basel III common equity requirements are too low
LCH.Clearnet 'shocked' at Dodd-Frank capital requirement
Firm might not be able to live with 99% reduction in minimum capital requirement under Dodd-Frank Act, says chief executive
IIF’s Oudéa calls for G-20 taskforce for cross-border resolution
Institute for International Finance’s Frédéric Oudéa says G-20 taskforce will stir up political will for agreement on cross-border resolution
Strong US-Canadian financial linkages: Bank of Canada paper
Bank of Canada study finds strong evidence of spillover effect between financial conditions in the United States and Canada
Bank of England - Agents’ summary of business conditions (January 2011)
Bank of England’s January 2011 Agents’ summary of business conditions says severe weather conditions in December had negative impact on household spending
IMF’s Lipsky on measures to stem capital controls
IMF first deputy managing director John Lipsky favours use of macroeconomic policy levers to tackle emerging market capital inflows including capital controls
Reserve Bank of India - Financial Stability Report (December 2010)
Reserve Bank of India December 2010 Financial Stability Report says Indian economy rebound strongly despite measured risks
IMF uneasy on nagging weakness of eurozone’s banks
Fund’s Global Financial Stability Report and World Economic Outlook updates show concern over insufficiency of eurozone stress tests, links between banking and sovereign risks
FSA's tough stance opens door to investment bans
The UK Financial Services Authority has taken a leaf from the book of the European Securities and Markets Authority and started a consultation that may well end up giving the regulator the power to ban investments it deems to be unsuitable.
Oddsson renews spat over Icesave dispute
Former Central Bank of Iceland chairman David Oddsson says Mervyn King gave assurance that Icelanders would not have to bear costs of Icesave deposit insurance
Banking Commission chief makes case for ring-fencing retail operations
Independent Commission on Banking chief John Vickers rules out “radical narrow banking” but says some separation between investment and retail banks could help
Oberthur drops De La Rue bid after increased offer flops
French banknote printer Oberthur Technologies abandons bid for British rival De La Rue following failure of increased offer at 935 pence per share
Safe haven effects caused exchange rate swings: IMF paper
Fund study identifies source of exchange rate volatility during financial crisis
ECB - Monthly Bulletin (January 2011)
European Central Bank January 2011 Monthly Bulletin says data on bonds indicate rise in inflation expectations
Bank of Italy moves to new balance of payments data regime
Bank of Italy releases first complete series of balance of payments data under new collection system; central bank says improvements will provide more accurate measures of firms’ investment income
De La Rue rejects raised Oberthur bid
De La Rue board passes on new offer from French rival Oberthur Technologies of 935 pence per share, says bid still undervalues firm; US equity house Bain Capital reportedly backing Oberthur’s attempt
ECB’s Bini Smaghi: money matters
European Central Bank executive board member Lorenzo Bini Smaghi stresses importance of monetary aggregates as means to counter both inflation and financial imbalances