Financial Stability
Barroso calls on eurozone to speed up completion of EFSF legislation
European Commission president José Manuel Barroso says member states must accelerate implementation of EFSF reforms as eurozone sovereign debt crisis spreads beyond the periphery
IMF calls on UK to widen scope of resolution regimes
IMF says UK lawmakers should expand the scope of BoE's special resolution regime to include systemically important financial institutions
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit ratings agencies cautiously affirm top ratings
Banks' funding profiles can indicate future defaults: IMF study
Fund study shows banks' funding profile is a useful predictor of likelihood of bank failure
RBI paper reviews financial inclusion policies in India
Reserve Bank of India case study on West Bengal region shows financial inclusion programmes are having limited success
Volcker rule spillover effects benefited Europe and Asia: IMF paper
Fund study shows Volcker rule caused positive spillover effects to some European and Asian banks
Zambia’s Fundanga on lower stock market transaction costs
Bank of Zambia governor Caleb Fundanga says information in new handbook on Zambian stock market will reduce transaction costs
Israel stress test results show room for improvement
Results of stress tests show Israeli banks need to improve Core Tier I capital and risk management practices
Gono urges caution in banking sector split
Gideon Gono says indigenisation and economic empowerment plan must be applied in a way that benefits the population most broadly; urges caution in division of banking industry
Tunisia struggling to regain stability
'Sharp regression' in mining and tourism leads executive board to call for 'ongoing follow-up of the economic situation' in the country
BoE’s Haldane considers policy to stem pro-cyclicality of haircuts
Bank of England executive director of financial stability Andy Haldane says minimum collateral requirements could be used to ease pro-cyclical nature of haircuts
China focus remains on inflation fight
Prudent monetary policy to continue, says central bank; fighting inflation is still top priority
Lithuania’s Vasiliauskas calls for prudent lending standards
Bank of Lithuania chairman Vitas Vasiliauskas urges caution over lending standards in Lithuania as banks return to profitability
Asymmetric information amplifies borrowing costs: BIS paper
Bank for International Settlements study shows that higher spreads are charged to syndicates due to asymmetry of information in loan markets
Bric FDI important source of growth to LICs: IMF paper
Fund study highlights importance of Bric foreign direct investment in low-income countries’ development strategy
Online banking poses challenges: RBI’s Padmanabhan
New executive director responsible for the IT, payment and settlement systems and foreign exchange department discusses challenges of online and telephone banking
Questions raised over UK’s FX volume surge
Market participants attribute a range of factors to the 23% rise in FX turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
Elderfield sets out the future of Irish banking
Deputy governor lays out plans to strengthen and restructure banks, improve governance and supervision and manage credit risk
Bank’s Miles allays fears over economic costs of Basel III
Bank of England external Monetary Policy Committee member David Miles says Basel III requirements will not have negative bearing on economy, as long as the transition is gradual
Ireland copies UK in new central bank law
Central bank can now order financial services providers to have an independent expert prepare a report on any regulatory matter; similar to UK provision
Cross-border flows stalling in euro area: ECB paper
European Central Bank study highlights concerns over resumption in euro area cross-border financial flows
Draghi backs ‘consistent’ implementation of Basel III
In his foreword to a new book, Mario Draghi says consistent implementation of Basel III rules must be achieved
Lagarde sets out ‘four-C’ plan to keep IMF relevant
Christine Lagarde says IMF must focus on clients and connections, be comprehensive and credible; reform of voting system is a top priority
Greek debt guarantees were vital for monetary policy: Estonia’s Lipstok
Bank of Estonia chairman Andres Lipstok says pledge by eurozone leaders to provide European Central Bank with guarantees for Greek collateral was very important for its price stability mandate