Financial Stability
UK lending conditions remain sluggish: BoE data
Bank of England Trends in Lending data shows net lending in UK continued to decline in October, albeit at a slower pace
Moody’s issues EU-wide credit warning
Credit rating agency says every EU sovereign rating under threat; warning given on same day OECD labels eurozone crisis “key risk to the world economy”
BoJ’s Shirakawa raises concerns over Japan’s growth outlook
Bank of Japan governor Masaaki Shirakawa warns economy is at risk of entering a “severe” economic period unless efforts are taken to address medium- to long-term growth prospects
Venezuela begins gold repatriation
First shipment of Venezuelan gold reserves made; central bank says uncertainty in Europe was a factor in the decision to move the precious metal
Emerging markets are highly sensitive to output shocks: Central Bank of Chile paper
Central Bank of Chile study shows emerging economies suffer from a larger decline in investment and consumption than advanced countries
IMF paper highlights risks of strong cross-border banking links
Fund study shows funding cost advantages enjoyed by emerging subsidiaries of advanced economies’ banks can lead to excessive credit growth and financial risks
ECB’s González-Páramo identifies sources of contagion in euro area
European Central Bank executive board member José Manuel González-Páramo says announcement of Greece referendum was one example of contagion spreading in euro area
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
FSA’s Bailey calls on banks to plan for eurozone break-up
Banks must prepare for the "disorderly departure of some countries from the eurozone", says Andrew Bailey
ECB’s Praet highlights challenges in identifying asset-price bubbles
European Central Bank executive board member Peter Praet says detection of house price booms in advance is extremely difficult
Swaziland trains Revenue Authority cash collectors
Officers shown security features of banknotes introduced last year; participants travelled from all over the country to attend the training
Greek central bank issues government with ultimatum
Bank of Greece tells newly formed government that unless structural reforms are implemented on schedule, Greece risks being thrown out of the eurozone
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
Banque de France outsources collateral management
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
Yields soar as Portugal is downgraded
Ten-year yield on Portuguese debt rises sharply as Fitch downgrades Portugal's credit rating to junk status, sparking renewed concerns over the sustainability of the sovereign
Netherlands Bank paper highlights risk of excessive reliance on wholesale funding
Netherlands Bank study says multinational bank subsidiaries’ access to parent bank and wholesale funding can increase instability
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Barbados calms public fears over 'counterfeit' banknotes
The Central Bank of Barbados reassures public that notes dated 2007 but bearing the signature of the current governor are genuine; statement in response to several queries
Asset shortages fuel price bubbles: IMF paper
Fund study says higher dependence on intangible capital and scarcity of high-yield assets creates asset-price bubbles
Monetary and financial stability policy are distinct: Riksbank’s Svensson
Riksbank deputy governor Lars Svensson says financial stability policy should not be confused with monetary policy
RBA’s Debelle discusses eligibility criteria for new liquidity scheme
Reserve Bank of Australia assistant governor Guy Debelle says inclusion of self-securitised mortgage-backed securities as eligible collateral in committed liquidity facility will reduce systemic risks
UK Royal Mint unveils Olympic kilo coins
Royal Mint reveals design of first ever coins weighing one kilo; collectors' items designed by esteemed British artists
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
UK financial system faces severe sovereign risks: BoE survey
Bank of England Systemic Risk Survey shows risk managers believe probability of high-impact event in the UK financial system has increased sharply in 2011