Financial Stability
Recessions and banking crises are strongly interdependent: BoE paper
Bank of England study co-authored by Martin Weale identifies useful indicators that can help predict banking crises
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor tells banks to stop accusing others of bad behaviour; discusses Institute of International Finance's concerns about financial reform agenda
Risk management in central and eastern Europe: Hungarian research paper
National Bank of Hungary releases working paper that looks at risk management approaches in central and eastern Europe
Gonzalez-Paramo urges speedy action in Europe
ECB executive board member pushes for more haste from European leaders to stem the crisis; says ECB has not decided when to end bond-buying programme
Pressure on the IMF to make surveillance a priority
Representatives from several global constituents call on IMF to take a central role in surveillance of countries as international reforms take hold
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Bank of Korea holds economic review meeting
Governor Kim Choongsoo meets with heads of institutions and scholars; domestic financial markets ‘overreacting’ to changes in external conditions
ECB paper highlights limitations of reforms to Stability and Growth Pact
European Central Bank study co-authored by Jürgen Stark says new fiscal surveillance framework will not ensure sound fiscal policies
Financial literacy key to stability: RBI’s Chakrabarty
Reserve Bank of India deputy governor KC Chakrabarty says improving financial literacy is necessary to minimise financial stability risks
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
IMF says time is ‘running out’ to stabilise world economy
Global Financial Stability Report makes urgent plea for action to tackle vulnerabilities that threaten the global financial system; reveals €200 billion ‘impact’ on EU banks from sovereign debt crisis
Worldwide warnings of escalating risk
International Monetary Fund and European Systemic Risk Board caution authorities over worldwide risk dangers; urge swift and decisive action
Debt tolerance levels in Central America: IMF paper
Fund study shows level of debt reduction needed to achieve investment-grade credit-rating status
Greece talks with Troika back on track
Negotiations over Greece‘s sixth tranche of bailout funds are set to resume as Troika leaders agree to return to Athens
ECB policy would shatter big CCPs, critics warn
Plans to have CCPs based in the jurisdiction of the currency they clear would pull apart multi-currency services, experts warn, after UK Treasury challenges ECB
NBD paper assesses impact of credit card surcharge on cash payments
National Bank of Denmark study shows new credit card surcharge did not cause shift towards greater cash payments
Canada’s Carney points to some optimism from global outlook
Bank of Canada governor Mark Carney says there are significant growth opportunities for Canada despite deterioration in global economic outlook
IMF World Economic Outlook piles on the gloom
Latest World Economic Outlook lowers global growth estimates; warns Europe and US policy-makers not to let problems get out of hand
Video: BoJ’s Hiromi Yamaoka on the failure of global rulemakers to learn from Japan’s ‘lost decade’
Hiromi Yamaoka speaks about new recovery and resolution plans, the strength of the Japanese banking system and why he’s not worried about spiralling government debt
Liquidity provision focus for new international reform plan
New Centre for Economic Policy Research report puts forward reform plan; focuses on liquidity provision and calls for greater IMF powers
G-20 reforms complex but necessary: Canada’s Lane
Bank of Canada deputy governor discusses merits and disadvantages of creating new Candian central counterparty in light of G-20 reforms to financial infrastructure
US and Japan generate largest spillover effects: IMF paper
Fund study finds slow-growing countries benefit most from growth spillover effects from US and Japan
BIS calls for greater vigilance over sovereign risks
Bank for International Settlements Quarterly Review warns weaker global growth outlook risks fuelling sovereign debt crisis
IMF concern over ‘critical juncture’ of programme in Greece
IMF rejects criticism of economic programme to date; highlights areas that need attention to ensure recovery