Feature/Financial Stability
When experts fail: a response and reply
Michael Taylor comments on the argument set out by Frank Vibert in the February edition of Central Banking journal, to which Vibert in turn replies
Follow the money
Monetary aggregates are set for a comeback in central banking, but as indicators of financial instability, not inflation. Claire Jones reports
A return to complexity: economic policy after the crisis
The crisis has challenged the fundamentals of the prevailing macroeconomic orthodoxy. Policymakers must recognise this and adopt new frameworks accordingly, Sir John Gieve argues
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Five lessons for dealing with EU bank failures
Hugo Banziger spent two weekends trying to save a German bank from failure. Here he identifies how and where European Union rules must change so that resolutions are faster and fairer
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
When experts fail
Frank Vibert explores the lessons of the crisis for regulators. The key is not to re-politicise markets but to improve the disciplines that regulators follow
Audit the Federal Reserve?
An independent institute for monetary statistics is needed in the United States, says William Barnett. Expanded congressional audit would be a second best alternative.
On the record: Paul Volcker
The former Fed chairman tells Congress that the central bank must take the leading role in regulating the financial system
How can central banks avert the next crisis?
Claire Jones moderated Central Banking’s first ever live webinar, which was sponsored by BNP Paribas Securities Services.
Restoring normality to the financial system
John Nugée identifies six key areas that central banks need to consider in attempting to establish the new normal
Interview: Marion Williams
Blair Baker spoke to the governor of the Central Bank of Barbados about the how the crisis has affected the island economy and the challenges she faces
How Yam secured his place in history
Tony Latter assesses the career of the recently retired Joseph Yam at the helm of the Hong Kong’s monetary authority.
Building a more resilient financial system
The short-term focus that dominated policy, regulation, accounting and governance prior to the crisis has to be changed, argues Jacques de Larosière
From triumph to the brink of despair
Robert Pringle looks at the last two decades, as viewed through the pages of Central Banking
Getting systemic risk regulation right: an agenda for the US
Robert Litan says systemic regulation can be done, and sets out who should do it in the United States – and how
Lessons from Japan
Thomas Cargill analyses what the American authorities can learn from Japan’s lost “decade and a half”
What the Icelandic collapse taught us
The reduction of a bloated banking sector presents an opportunity for a return to balanced growth, argues Tryggvi Thor Herbertsson
Of currencies, crises and completions
The crisis presents an opportunity to complete Europe’s journey towards a true monetary union, argues John Nugée
Optimising cash supply
Central banks need to take a business minded approach to their cash-supply function, argues Brian Lang
How to incentivise the financial system
Robert E. Wright argues that regulators – and those they oversee – need better incentives for prudent behaviour
Why Europe needs a Financial Stability Fund
Investors need assurances over the debt of European Union member countries, Daniel Gros and Stefano Micossi argue
Shell shocked: American finance in crisis
A legislative overhaul is coming. Robert Litan says a renewed focus on market discipline and the consolidation of regulatory authority are the priorities
A chronology of the crisis
A month-by-month account of the greatest banking crisis since the Great Depression