Financial Stability
Toxicity Index levels rising: RBI report
Reserve Bank of India June 2011 Financial Stability Report finds evidence that exposure to inter-bank distress is creeping upward
South African Reserve Bank – Annual Report (2010–11)
South African Reserve Bank 2010–11 Annual Report says there is no obvious threat to domestic financial stability
China blames loose global monetary policies for inflationary pressures
People’s Bank of China brings price control to the forefront; says loose global monetary conditions have pushed up inflation expectations
BoE paper on development of central banks' lender-of-last-resort function
Bank of England study looks into evolution of clearing and settlements systems and central banks' progression as providers of liquidity
Trichet highlights advanced economy failures
European Central Bank president Jean-Claude Trichet says crisis highlighted weaknesses in strategies of advanced economies; stands firm on Greece action shortly before S&P downgrades sovereign
Interview: John Mendzela
John Mendzela is a specialist in central bank governance and strategic management. Here he discusses the gaps in central bank governance highlighted by the crisis and presents some potential fixes
EMEs more sensitive to risk premiums: IMF paper
IMF study shows a lower risk premium can reduce inflation in emerging economies
Qualitative indicators could have spotted crisis: Buba paper
Bundesbank study highlights importance of qualitative risk assessment in banking supervision
Better euro area financial stability governance ‘necessary’: ECB’s Constâncio
European Central Bank vice-president, Vítor Constâncio calls for policymakers to alter their conception of the governance of financial stability in the euro area; wants to see region-wide oversight
Bulgaria attempts to speed up and streamline payments
Addition of third settlement cycle designed to 'speed up and streamline' payments
BIS’s Hannoun spots conundrum in 'no bailout' line
Bank for International Settlements deputy general manager Hervé Hannoun says aversion to taxpayer-funded bailouts not fully priced in sovereign spreads
Albania’s Fullani urges deepening of capital markets
Bank of Albania governor Ardian Fullani calls for further development of capital markets in Southeast Europe
IMF study assesses Asean 5 bond market performance
Fund paper says Asean 5 bond markets compare well with other emerging markets
IMF assessment highlights China’s frailties in financial system
IMF’s first Financial Sector Assessment Programme in China says country must move towards more liberal financial system
Singapore’s Tai on deepening Islamic capital markets
Monetary Authority of Singapore executive director Tai Boon Leong says wider range of products will help deepen Islamic capital markets
British bankers disagree over ring-fencing
Controversial proposals for reform of UK banking system spark dispute among representatives of ‘big four’ banks; disagree over ring-fencing option
Sovereign spillovers normalised Asian spreads, says IMF study
Fund paper attributes volatility in Asian sovereign debt markets during crisis to sovereign risk spillovers
Thieves seize 500,000 pesos from Argentina coffers: reports
Central Bank of Argentina robbed of 500,000 pesos' worth of withdrawn bills, say reports; central bank declines to comment
Philippines launches next leg of public education programme
Central bank wants the public to be able to make “well-informed economic and financial decisions”; also opens new building in Dumaguete City
Finland to close two cash distribution offices
Bank of Finland says it will shut its Tampere and Kuopio offices as cash distribution services are outsourced to private sector
IMF study on financial frictions in EMEs
Fund paper shows developing economies are more exposed to financial frictions than emerging markets
NY Fed’s Dudley urges collaboration in tackling global imbalances
New York Federal Reserve president William Dudley says imbalances in growth between United States and emerging economies are unsustainable in long term
Sweden’s Öberg calls for Riksbank to merge with regulator
Riksbank first deputy governor Svante Öberg says merging central bank with Finansinspektionen will aid task of safeguarding financial system
San Francisco Fed paper on merits of leaning against asset prices
San Francisco Federal Reserve study makes case for monetary policy to lean against asset price movements