Macro-prudential policy
ECB’s Tumpel-Gugerell outlines challenges for ESRB
ECB executive board member Gertrude Tumpel-Gugerell says European Systemic Risk Board must overcome limitations to measuring systemic risk
Analysts applaud passage of ESRB, fret over practical concerns
Commentators praise the concept of a continent-wide systemic risk supervisor but say politics and lack of policy clarity could thwart good intentions
Focus on banks’ incentives must continue post-crisis: Bank’s Bean
Bank of England deputy governor Charles Bean says crisis focus on bank incentives must remain; financial market problems require macroprudential instruments
Interview: Andrew Haldane
The executive director for financial stability at the Bank of England talks to Robert Pringle about lessons from the crisis, the macroprudential toolkit, links between monetary policy and financial stability, and whether the banking industry needs to be…
Westminster spells out Bank’s importance in new regulatory structure
Bank-led committee will instruct prudential regulator and consumer body on policy; Treasury asks industry players for input on broadening new body’s objectives
Price stability rightly remains sole focus of monetary policy: IMF
Fund directors say macroprudential measures, rather than monetary policy tools, should deliver financial stability; propose measures including dynamic provisioning framework
Canada’s Carney named CGFS chair
Bank of Canada governor Mark Carney to step into Federal Reserve vice-chairman Donald Kohn’s shoes and head Basel-based Committee on the Global Financial System; follows Kohn’s retirement
BIS’s Caruana warns macroprudential policies may have unintended consequences
Bank for International Settlements general manager Jaime Caruana says macroprudential policies alone do not guarantee protection from systemic risks
Cyprus's Orphanides: central banks in best position to supervise risks
Cypriot central bank governor Athanasios Orphanides says central banks are in best position to oversee macroprudential risks
Bernanke supports greater macroprudential focus in regulation
Federal Reserve chairman Ben Bernanke says reform must focus on macroprudential financial regulation in line with Squam Lake report
Top economists call for central banks to oversee financial stability
Leading thinkers including former Federal Reserve Board governor Frederic Mishkin say central banks should watch financial stability; set of crisis prevention proposals include limits on bankers’ pay
Monetary policy did not cause crisis: Chile’s de Gregorio
Chilean central bank governor José de Gregorio points to financial innovation and liquidity transformation as chief causes of crisis; calls for multiple tools to protect both price and financial stability
Interview: Howard Davies
The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change
Cyprus’s Orphanides calls for more attention to macroprudential regulation
Central Bank of Cyprus study into lessons from crisis says greater need for both micro and macroprudential regulation
ECB's Trichet: ESRB will deliver macroprudential oversight
European Central Bank president Jean-Claude Trichet outlines role of European Systemic Risk Board in supervisory framework
Weber calls for broader scope to Basel III
Bundesbank President Axel Weber says new Basel rules should incorporate a macroprudential element to overcome systemic risks
Macroprudential tools need hard, fast rules: BIS
Basel-based Committee on the Global Financial System says macroprudential policy needs as strong a mandate as monetary policy to work
Former head of UK FSA backs new British supervisory structure
Howard Davies says new coalition government was right to keep banking supervision out of Threadneedle Street
Ma signals further reforms in China's rural areas
People's Bank of China deputy governor Ma Delun outlines new financial reform in China's rural areas
UK coalition gives Bank lead regulatory role
Conservative and Liberal Democrat parties agree to put Bank of England at the centre of financial regulation on Wednesday, stop short of abolishing FSA
Capital ratio hikes 'not appropriate' for South Africa
South African Reserve Bank says lenders already hold more than necessary and further hikes will only hit profits; deputy governor Guma flags work on macroprudential framework
Caruana: integration essential to global framework
Bank for International Settlements general manager Jamie Caruana draws on importance of financial integration in forming new global framework for financial system
BIS on the origins of macroprudential
Bank for International Settlements research traces the etymology of macroprudential, noting that it has become a buzzword in the aftermath of the crisis
BIS’s Caruana: central banks up to stability task
Bank for International Settlements’ Jaime Caruana says crisis highlighted the prominent role central banks should have in financial stability policy