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MPC's Sentance: downturn risks on the rise
Severe stresses in the financial system and the news from the real economy have certainly increased the risks of a bigger and more sustained downturn, said Andrew Sentance, a member of the Bank of England's Monetary Policy Committee.
SF Fed's Yellen: US in recession
The US economy appears to be in recession as every major part of the economy has been hit by the financial shock, said Janet Yellen, the president of the San Francisco Federal Reserve.
Trichet: joint action sets precedent
Monday's decision to provide broad access to liquidity and unlimited dollar funding marked a "world premiere" in exceptionally-confident cooperation between central banks, Jean-Claude Trichet, the president of the European Central Bank (ECB), has noted.
G7 plan "a major success": Riksbank's Ingves
The five-point plan agreed by the G7 finance minsters and central bank governors should help improve confidence in financial markets, said Stefan Ingves, the governor of the Riksbank.
Canada, Japan outline responses to G7 plan
Canada and Japan, the industrialised countries least affected by the current turmoil, on Tuesday announced their responses to the G7 plan.
Asian central banks act on liquidity shortages
Signs of heightening liquidity tensions in Asia emerged on Tuesday, with the Reserve Bank of India adding Rs20,000 crore ($4.16 billion) to its banking system and Bank Indonesia implementing measures to ease stress in foreign-currency markets. Bank…
HKMA steps up stability efforts
The Hong Kong Monetary Authority (HKMA) on Tuesday stepped up its efforts to enhance financial stability, issuing a blanket guarantee for customer deposits and offering to re-capitalise its banks.
Fannie, Freddie debt fears could have sparked run
Central bankers' fears over the collapse of Fannie Mae and Freddie Mac threatened to lead to sales of US agency debt, the scale of which could have sparked a run, the US regulator responsible for the two government-sponsored enterprises (GSEs) has said.
US offers $250bn in capital, markets shrug
Washington's unveiling of a $250 billion plan to recapitalise its banking sector did little to soothe equity-market sentiment on Tuesday, with gains at the opening bell proving short-lived.
Financial integration in Asia
A recent collection of eight papers from the Bank of International Settlements focuses on regional financial integration in Asia.
FSA's Turner: we learned from Great Depression
We have learned from the Great Depression that in the face financial collapse, governments and central banks must take exceptional measures, said Adair Turner, the chairman of the UK's Financial Services Authority.
ECB's Bini Smaghi calls for regulatory overhaul
It is not sustainable to run different financial regulation and supervision policies, said Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank.
Why failed bank executives must go
Senior management of banks that require public assistance should be replaced, says Robert Pringle, the editor-in-chief of Central Banking journal.
EU agrees to re-capitalise banks
European Union (EU) officials on Sunday agreed to follow Britain's lead in pledging to inject sufficient capital into the region's battered banks.
Australia, NZ guarantee all deposits
Australia and New Zealand became the latest countries to guarantee all deposits over the weekend.
Britain re-capitalises banks, warns on bonuses
British authorities on Monday warned banks to review their compensation structures after pledging up to £37 billion ($64 billion) to re-capitalise some of the country's largest banks.
Markets rally on global bailout
Equity markets bounced on Monday on signs that coordinated action taken over the weekend had helped soothe investor sentiment.
US bailout to include "significant" equity stake
The US Treasury is likely to spend a very significant amount of the $700 billion at its disposal on recapitalising the US's battered banking sector, an official who will oversee the Troubled Asset Relief Plan (TARP) told an audience in London on Monday.
Bank of Estonia - Annual Report 2007
In 2007, Estonia started, after several years of exceptionally strong growth, moving towards a more stable and sustainable level of expansion, said Andres Lipstok, the governor of the Bank of Estonia, the latest Annual Report.
RBI's Subbarao: don't overlook us in crisis
Policy makers from developed countries need to take emerging markets and developing countries into consideration in their responses to the current turmoil, noted Duvvuri Subbarao, the governor of the Reserve Bank of India.
Valuation at the heart of crisis: Banque de France
Valuation issues lie at the heart of the financial turmoil, Banque de France stated in its latest Financial Stability Review.
Crisis has spared India: deputy Mohan
India has by-and-large been spared of the consequences of the fallout from the US subprime crisis, Rakesh Mohan, a deputy governor at the Reserve Bank of India, said.
BoJ minutes reveal thinking behind dollar funding
The minutes of the Bank of Japan's Monetary Policy Meeting on 18 September reveal discussions that led to the central bank introducing dollar fund-supplying operations against pooled collateral as a temporary measure.
Rosengren on aid to money market funds
Eric Rosengren, the president of the Boston Federal Reserve, argued that many assumptions about the financial system have proven to be seriously flawed.