Financial Stability
Riksbank increases outreach efforts
The Riksbank is increasing surveillance of funding markets and interbank markets; talks intensify with domestic banks and other central banks
IMF bailouts can raise risk of default: Buba paper
Bundesbank study says IMF loans, on average, increase the probability of default in developing countries
Philly Fed paper on ratings agency failures in subprime market
Philadelphia Federal Reserve study says ratings agencies' AAA-rating of mortgage-backed securities helped spur the subprime mortgage crisis
Financial interlinkages are uniform across Asia region: BoJ paper
Bank of Japan study shows links between Asian nations and global stock markets appear to be homogeneous across countries
Lithuania bucks trend to instead predict higher economic growth
Bank of Lithuania predicts higher economic growth in 2011; Mexico joins UK in lowering forecast
Bank of Israel looks at post-crisis pension market dynamics
Bank of Israel study says the outlook for investments in Israel’s pension market have become increasingly short-term
Cleveland Fed on merits to indexing loans
A Cleveland Federal Reserve study says indexing loans to aggregate variables can adjust business cycles to more optimal levels
Distinguishing between signs of illiquidity and insolvency: BoJ paper
Bank of Japan study examines how central banks can use lending signals to determine the solvency of firms
Macroprudential measures complement monetary policy: IMF paper
An IMF study says macroprudential policy can work in unison with monetary policy but it is not a direct substitute
Nigeria unveils payments system overhaul
Payments system faces complete overhaul in 2012; aim is to reduce reliance on cash
Bond markets rally as ECB moves on Italian and Spanish debt
Yields on Italian and Spanish debt fall as European Central Bank signals it will actively implement its bond purchase programme
Buba paper identifies positive spillover effects of financial aid
Bundesbank study say German foreign afilliates benefit from effects of domestic aid policies
Chicago Fed reviews implementation of Dodd-Frank Act
Chicago Federal Reserve newsletter looks at policy debate on measures to address systemically important financial institutions
Greater interconnected banking systems pose instability threat: IMF paper
Fund study says greater links between banking systems could leave some countries more exposed to crises
Global equity markets tumble as euro area panic sets in
European sovereign debt crisis escalates as equity markets across the board record big losses
Bank of Finland paper tests financial stability model
Bank of Finland study builds model to map systemic risks emerging in financial system
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