Financial Stability
RBA governor criticises ‘dated’ payments systems
Glenn Stevens warns Australia has fallen behind other countries by not offering real-time electronic transfers; notes task the central bank faces in matching improved global regulatory environment
Americas’ regional FSB group discusses vulnerability and regional financial stability
Financial Stability Board Regional Consultative Group for the Americas discusses developments in global economy and methods of assessing vulnerability in fast-growing economies
New York Fed article proposes capital regulation framework
Article suggests new framework for regulating capital; attempts to limit risk-taking while preserving creditors’ disciplining incentives
Greek governor highlights importance of decisions made in Athens
Georgios Provopoulos tells president recovery is linked to decisions made in Athens not Brussels; again stresses importance of faster progress with reforms in the country
Riksbank survey gauges Swedish risk perceptions
Survey by the Riksbank assesses participants’ perceptions of risk in Swedish financial system; finds limited optimism tempered by uncertainty over eurozone problems
Malaysia releases Basel III proposals
Bank Negara Malaysia issues concept paper setting out plans to strengthen capital adequacy standards for banking institutions; requests feedback on requirements, which follow Basel III recommendations
Norges Bank article assesses Norwegian settlement process
Article examines contagion risk in Norges Bank settlement process; identifies four banks of systemic importance
UK police seize more than £4 million in counterfeit coins
Metropolitan police uncover large counterfeit operation in UK; some of the fake coins may already be in circulation
Bosnia and Herzegovina refreshes banknote pool
Central Bank of Bosnia and Herzegovina announces injection of fresh banknotes to replace worn-out ones; notes match European ones for paper and security feature standards
UK FPC member discusses role of the committee
Alastair Clark, a member of the Bank of England’s Financial Policy Committee, considers new body’s financial stability role and the difficulties it faces
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
Central Bank of Colombia paper evaluates CrashMetrics risk estimation
Researchers examine CrashMetrics risk estimation methodology; find it makes better predictions during crises than traditional stress tests
Counterfeits found in Namibia days after new currency launch
Bank of Namibia reports discovery of low-quality forged banknotes following issuance of new series; reminds public to be vigilant in checking for improved security features when handling cash
ECB executive urges greater European federalisation
José Manuel González-Páramo, a member of the executive board of the ECB, examines sovereign debt crisis; says deeper union is “essential” in eurozone
Lagarde offers views on globalisation
Christine Lagarde discusses global connections and the future; takes feminist line in speech to graduating students
Bundesbank adamant on Greek reform programme
Monthly statement from Bundesbank says Greek access to aid should not be eased to avoid dampening of incentive to reform; EC’s Barroso sensitive to sacrifices made so far after meeting interim president
Bank Negara Malaysia reports slower economic growth
Overview of economy shows growth fell to 4.7% in Malaysia in the first quarter of 2012; domestic demand stays strong but export market slows
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
Malta governor reflects on turbulent eurozone
The governor of the Central Bank of Malta speaks on economic challenges in the eurozone; focuses on improving regulation and competitiveness to promote long-run growth
Central Bank of Azerbaijan tackles counterfeiting
Central bank hosts workshop on combating currency counterfeiting; cash managers from banks and law enforcement agencies are told the local currency has become "strong"
OECD laments fragile, uneven global recovery
Economic Outlook predicts slower GDP growth across OECD countries in 2012; discusses delicate recovery around the world
Bahrain executive director on growth of Islamic funds
Importance of Islamic finance highlighted by Central Bank of Bahrain executive director; considers methods to encourage growth in the industry
BIS paper examines macro-prudential models and tools
Working paper considers the effectiveness of macro-prudential models in understanding the role of the financial sector in relation to the real economy
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth