Financial Stability
Bank of Israel reviews lessons learnt from crisis
Bank of Israel report looks at evidence from recent financial crisis and how policymakers can be more prepared in future
EU plans coordinated action to recapitalise banks
European Commissioner Olli Rehn says capital positions of European banks must be reinforced; calls for comprehensive strategy to restore confidence in Europe
ECB’s Constâncio stresses commitment to T2S settlement platform
First ever Europe-wide platform for settlement of bonds and equities trades has ECB’s full support; will play a crucial role in future of the single market, says Vítor Constâncio
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Fed liquidity helped US escape Great Recession: NY Fed paper
New York Federal Reserve study says Fed liquidity policies helped economy avert another Great Depression
Buba’s Dombret opposes EU Tobin tax
Bundesbank executive board member Andreas Dombret warns financial transaction tax could overburden financial institutions
Poland moves to halt zloty decline
National Bank of Poland intervenes in foreign exchange markets for third consecutive week to curb depreciation of zloty; Central Bank of Brazil also acts to smooth flow of real against dollar
Financial Stability Board finalises Sifi measures
FSB settles on plan to tackle the 'too big to fail' problems posed by systemically important financial institutions; measures will be sent to G-20 summit in November
Bank of Canada paper measures systemic importance of banks
Bank of Canada study builds framework to identify systemically important financial institutions
RBI’s revised securitisation guidelines could ‘kill’ Indian market
Latest Reserve Bank of India revised draft guidelines for securitised transactions draw criticism; one lawyer says the rules would "nearly kill" securitisation in the country
Greece will receive bailout funds despite missing target, say analysts
Greece finance ministry says country will fall short of its fiscal deficit reduction target for 2011; analysts still expect Troika to approve sixth bailout tranche
FPC explains capital requirement switch
FPC explains worries about credit availability to business; says banks must know that capital and liquidity buffers are "useable" in a crisis situation
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
Demise of cash ‘vastly exaggerated’: MAS’s Menon
Monetary Authority of Singapore managing director Ravi Menon says he expects cash to continue to have a crucial role in economy in future
Finland announces markka conversion deadline
Finns have until February 29 to change markka banknotes and coins to euro; currency outstanding valued at $386 million
Current economics paradigm 'ill-suited' to capture financial instability: BIS paper
Bank for International Settlements study authored by Claudio Borio says rethink of financial stability role in macroeconomics does not go far enough
Denmark broadens temporary collateral facility
National Bank of Denmark widens banks' access to credit facility by expanding existing collateral rules to include bank credit claims
UK reveals design of new banknote
Bank of England to release new £50 banknote in November; design features British businessmen Matthew Boulton and James Watt
FSA’s Turner considers more active role for macroprudential policy
Financial Services Authority chairman Adair Turner says new macroprudential policy tools could play a more active role in ensuring socially optimal level of credit in economy
RBNZ reviews policy choices to tackle macroeconomic imbalances
Reserve Bank of New Zealand paper says policies that promote savings in the private and public sector can help overcome macroeconomic imbalances
Eurozone crisis hit financially constrained firms hardest: IMF paper
Fund study says eurozone crisis caused greatest distress among firms with greater financial constraints and increased exposure to peripheral euro countries
Leaked letter reveals ECB austerity demands on Italy
Trichet and Draghi asked for 'pressing action' from Italian authorities; puts rumours of such communication to rest
RBI’s Khan favours balanced policy orientation to EME capital inflows
Reserve Bank of India deputy governor Harun Rashid Khan says a variety of policy tools are needed to manage capital inflows in emerging markets
Germany backs new EFSF powers
Concerns over firepower of European Financial Stability Facility remain despite its new enhanced powers after Berlin passes new legislation with majority vote