Financial Stability
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
Barroso to ECB: do 'whatever is necessary' to maintain financial stability
European Commission chairman says ECB must ensure financial stability by any means; announces financial transaction tax and supports eurobonds
Italian politicians uneasy over Draghi replacement delay
Opposition leaders criticise delay in announcing successor for Mario Draghi as governor of the Bank of Italy
UK’s FPC changes tack on capital requirements
Loosely-worded document does not clarify FPC’s demands on banks; new regulatory body asks for more powers in new legislation
BIS working group urges more communication with traders
Bank for International Settlements working group report says authorities must be more alert to threats posed by high-frequency trading, calls for increased dialogue with market participants
Papandreou appeals for German support
Greek prime minister George Papandreou travels to Berlin to seek solution to sovereign debt crisis; due to meet German chancellor Angela Merkel
FSA asks UK government to be very clear in new legislation
Financial Services Authority warns government it risks creating “real confusion” over duties of new Financial Conduct Authority
Fiscal cuts can stabilise macroeconomy: Philly Fed paper
Philadelphia Federal Reserve study shows fiscal retrenchment can, in some circumstances, reduce macroeconomic instability and stimulate economic activity
Weber attacks international financial safety net concept
Former Bundesbank president Axel Weber raises objections to IMF as permanent liquidity swap provider; says measures are "undesirable" and "unrealistic"
Finland’s Liikanen discusses weaknesses in Europe
Erkki Liikanen wants progress in fiscal correction, bank capitalisation and economic governance; reminds Greece of its responsibility for itself