Credit crunch
Emerging market policy cited for smaller spreads
Better macroeconomic policies are behind the low spreads on emerging markets' sovereign debt, a new paper published by the Bank of Canada finds.
Yellen on Fed's response to subprime crisis
Janet Yellen, the president of the San Francisco Federal Reserve, has underlined the central bank's commitment to addressing the mortgage and foreclosure crisis.
Latvia feels the turmoil
The Latvian economy shows increased signs of a deceleration, said Ilmars Rimsevics, the governor of the Bank of Latvia.
Japan shows resistance to turmoil
Japan's economy expanded moderately and exports continued to increase from October 2007 to March 2008, according to a report published by the Bank of Japan.
BIS calls for countercyclical framework
The Bank for International Settlements (BIS) has called for regulators and central banks to work together to limit procyclicality.
Lower loan costs to stem foreclosures: Boston Fed
Making mortgage payments temporarily affordable for Americans with negative housing equity is the best way to prevent foreclosure, research published by the Boston Fed finds.
Turbulence hits Norwegian banks
Norwegian banks face tougher conditions as a result of the considerable turbulence in global money and credit markets, the country's central bank noted in its latest Financial Stability Review.
Incentives the root cause of the crunch
Perverse incentives were the major cause of the current turmoil and changing those incentives will be the solution, an article published by the International Monetary Fund notes.
Fischer wants financial supervision
The current turmoil shows that the involvement of the central bank in the supervision of financial institutions should be extended and enhanced, said Stanley Fischer, the governor of the Bank of Israel.
Canadian banks want action on collateral reform
Canada's biggest banks have urged Jim Flaherty, the country's finance minister, to quickly grant the central bank greater powers to set collateral requirements, local media reports have said.
Eurozone banks toughen lending standards
Borrowing across the eurozone became harder for both the region's businesses and consumers in the three months to March, the latest European Central Bank lending survey reveals.
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
San Francisco's Rudebusch on future of regulation
In this Fed Review, published by the Federal Reserve Bank of San Francisco, Glenn Rudebusch, a senior vice president at the central bank, discusses recent initiatives by the Fed to promote liquidity and tackle ongoing problem in credit markets.
Former NY Fed chief to author report on crunch
Gerry Corrigan, a former head of the New York Federal Reserve now a managing director at Goldman Sachs, an investment bank, is to lead a study on the current turmoil.
Crisis underlines importance of liquidity
The current credit crunch has shown how essential liquidity is to both markets and institutions, Glenn Stevens, the governor of the Reserve Bank of Australia, noted.
Economy not policy accounts for differences: King
The marked contrast in the responses of the Federal Reserve, the Bank of England and the European Central Bank to the credit crunch is down to divergences in the economic conditions facing each central bank rather than policy stances, Mervyn King, the…
Credit crunch set to hamper US lending
US growth could fall by up to 1.5 percentage points over the next year as a result of tighter borrowing conditions, a report prepared for the US Monetary Policy Forum has found. The report also estimates the losses on mortgage securities will total $400…
Assessing Australian asset-backed commercial paper
The reason for the superior performance of the Australian asset-backed commercial paper market compared with the United States lies in the specification of conduits, a Reserve Bank of Australia paper finds.
Stagflation problem for the Fed?
The Federal Reserve faces a problem that the United States has not seen for many years: stagflation.
Laurels for ECB from Germany's Merkel
The German chancellor, Angela Merkel, has praised the European Central Bank's (ECB) "very outstanding role" in dealing with the world financial crisis.
Liquidity pressures could return, says FSF report
Money-market tensions could yet re-emerge, a group of leading central bankers and policymakers warned on Monday.
Coordination was unprecedented, says Goodhart
The joint action by five of the world's leading monetary authorities was a move unprecedented in central banking, said Charles Goodhart, a former member of the Bank of England's monetary policy committee.
Loan approvals down, conditions tighten: Fed poll
Borrowers in the US face rising costs and tougher conditions for loans, a survey published by the Federal Reserve on Monday shows.
Six lessons from the recent turbulence
Hermann Remsperger, a member of the executive board at the Bundesbank, outlined the lessons that have emerged so far from the turmoil that has plagued financial markets since August.