Financial Stability
Financial crisis leaves questions over future of banking: Luc Coene
Belgian governor says with huge reforms beginning to take effect, it is impossible to accurately predict the future state of the banking sector in Belgium
CLS pushing 'transformation' agenda, says Bozian
Central settlement utility is feeding greater resources into expanding its universe of currencies, according to chief executive Alan Bozian
BoE unveils gloomy Financial Stability Report
Bank of England Financial Stability Report demands banks boost capital levels; King says he initiated talks of co-ordinated swap line action with central banks around the world
Kenyan parliament passes new payments regulation law
Central Bank of Kenya governor offers overview of 2011 for economy; reports on progress of National Payments System Bill
Capital flows reversed in India post-QE2: RBI paper
Reserve Bank of India study shows capital inflows into India declined after the US Federal Reserve’s second quantitative easing programme
Major central banks take co-ordinated action
Central banks reduce US overnight index swap rate from 100 basis points to 50 basis points above market rate to flood financial system with dollar liquidity
Thailand and China ease monetary policy
Thailand cuts benchmark rate and China lowers reserve ratio as eurozone crisis impact is felt in Asia; Thailand also keen to combat effects of devastating floods
Eurozone bolsters EFSF’s lending capacity
European Financial Stability Facility to guarantee between 20% and 30% of new bond issuance by beleaguered eurozone states; new measures will enable fund to leverage €250 billion of funds
IMF paper calls for urgent completion of macro-prudential frameworks
Fund study says early implementation of new macro-prudential measures will mitigate cross-border risks
Housing market reforms can boost recovery: Fed’s Yellen
Federal Reserve vice-chair Janet Yellen says there is good case for government to address the dysfunctional US housing market
Austria's Nowotny under scrutiny in banknote bribery case
Governor Ewald Nowotny and members of the central bank’s supervisory board under investigation; accused of having knowledge of bribery of foreign officials in race to win banknote printing contracts
ECB credibility is damaged, say CBP panellists
Fourth Central Banking ON AIR webinar sees heated discussion over the future of the eurozone; ECB has suffered damaged credibility but independence is unscathed, say panellists
Malaysia and Singapore sign cross-border collateral MoU
Monetary Authority of Singapore and Bank Negara Malaysia sign agreement to establish cross-border collateral arrangement; boosting confidence of financial institutions is one aim of the move
BoJ’s Nishimura sees risks from commodity-linked instruments
Bank of Japan deputy governor Kiyohiko Nishimura says policy-makers should monitor developments in commodity markets more closely
Credit expansions strengthen recessionary trends: SF Fed paper
San Francisco Federal Reserve study finds credit intensity of the boom periods matter for path of recession
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