Macro-prudential policy
ECB’s Constâncio favours single prudential rulebook for euro area
European Central Bank vice-president Vítor Constâncio says maximum harmonisation of prudential requirements will support financial integration and reduce costs
Current economics paradigm 'ill-suited' to capture financial instability: BIS paper
Bank for International Settlements study authored by Claudio Borio says rethink of financial stability role in macroeconomics does not go far enough
FSA’s Turner considers more active role for macroprudential policy
Financial Services Authority chairman Adair Turner says new macroprudential policy tools could play a more active role in ensuring socially optimal level of credit in economy
Bank veterans identify challenges to macroprudential policy
Bank of England paper co-authored by Andrew Large and Alastair Clark highlights difficulties in developing macroprudential policy toolkit; identifies conflicts with monetary and regulatory policy
The future of central banking: CB.com panel
Robert Pringle moderates a panel assessing the future of central banking in a post-financial crisis world
A two-pillar strategy for macroprudential policy
Dirk Schoenmaker and Peter Wierts propose a way to formulate financial stability policy to tackle cyclical and structural risks
Macroprudential measures complement monetary policy: IMF paper
An IMF study says macroprudential policy can work in unison with monetary policy but it is not a direct substitute
Germany and China heighten cooperation
People’s Bank of China and Deutsche Bundesbank meet in Frankfurt to discuss financial stability and trade partnership; China stresses confidence in euro area
BIS’s Caruana calls on central banks to lengthen policy horizon
Bank for International Settlements general manager Jaime Caruana says monetary policy strategy should be adjusted to contain build-up of financial imbalances
South African Reserve Bank – Annual Report (2010–11)
South African Reserve Bank 2010–11 Annual Report says there is no obvious threat to domestic financial stability
Basel working group calls for 'explicit' financial stability mandate
Working group on financial stability governance calls for explicit and clear mandates for central banks
Interview: John Mendzela
John Mendzela is a specialist in central bank governance and strategic management. Here he discusses the gaps in central bank governance highlighted by the crisis and presents some potential fixes
Yellen sees signs of exuberance in corporate debt markets
Comments highlight Fed’s methods for monitoring imbalances; rate hikes “last resort” to tackle financial excess
ECB’s González-Páramo paints picture of post-crisis policy framework
European Central Bank executive board member José Manuel González-Páramo outlines new elements of the post-crisis financial system norms
Resolution regimes offer second line of defence: Sweden’s Ingves
Riksbank governor Stefan Ingves says resolution regimes should supplement macroprudential policy
Trichet on the building blocks for financial reconstruction
European Central Bank president Jean-Claude Trichet describes three ways in which finance must be rebuilt
Bernanke: Fed striving to ensure level playing field
Federal Reserve chair Ben Bernanke outlines road map ahead for Basel Committee and the Financial Stability Board
Lambert will not take up seat on Bank’s FPC
Former Monetary Policy Committee member Sir Richard Lambert says he no longer wishes to become one of four external members of macroprudential body
Bernanke sheds light on new macroprudential approach
Federal Reserve chairman Ben Bernanke touches on benefits of new macroprudential approach in the United States under the Dodd-Frank Act
Turkey’s Yilmaz explains motivation behind policy strategy
Central Bank of Turkey governor Durmuş Yilmaz says combination of liquidity management facilities, reserve requirements and policy rates will help achieve price and financial stability in Turkey
Interview: Vitas Vasiliauskas
Well-balanced, sustainable growth is the priority target, new governor of the Bank of Lithuania tells CentralBanking.com
Albania’s Fullani emphasises importance of stress tests
Bank of Albania governor Ardian Fullani calls for more attention to stress tests as part of central banks’ macroprudential policy