Financial Stability
BoE outlines risk of higher intraday liquidity buffers
Bank of England study says new measures to enhance intraday liquidity risks jeopardising payment and settlement operations; recommends tools to mitigate banks’ incentive to delay settlement
FDI boosts external balances: IMF paper
IMF study shows central eastern and southeastern Europe region benefited from large foreign direct investment pre-crisis
Bankers underestimate need to recapitalise: ECB paper
European Central Bank study shows bankers’ incentive to recapitalise during periods of crisis are undermined by negative externalities
BoE’s Tucker calls for ex-ante resolution for CCPs
Bank of England deputy governor Paul Tucker calls for further ex-ante measures to wind down failed central counterparties
Ex-De La Rue chief decamps to rival
Oberthur Technologies snaps up former De La Rue chief executive James Hussey; shares in UK banknote producer slump as Oberthur ends interest in rival
Hong Kong strengthens security for ATMs
Automatic teller machines will use chip-based technology to help cut fraud; magnetic strips on cards will still work for foreign transactions
HKMC - Annual Report (2010)
Hong Kong Monetary Corporation 2010 Annual Report shows $600 million increase in loans purchased in Hong Kong
RTGS usage climbs: Bank of Israel survey
Bank of Israel 2010 Payment and Settlement Systems survey shows Zahav transactions increased by 20% in 2010
Talk of restructuring worsened turmoil: Bini Smaghi
ECB executive board member blames inability of securities market programme to curb investor fears on renewed talk of restructuring; tells Central Banking Greece should have sought help sooner
Bini Smaghi: Greece not our responsibility if it defaults
Executive board member tells Central Banking Greece's fate is in its hands; reprofiling dismissed on grounds that it would have "all implications" of a default
Fitch downgrades Cyprus over threat of Greek contagion
Fitch downgrades Cyprus three notches to A- amid concerns over Cypriot banking sector’s exposure to Greece
Mexico’s Carstens urges review of international bodies
Bank of Mexico governor Agustín Carstens says international bodies must regain their legitimacy by reviewing reform agenda
BIS paper on regulating mobile banking providers
Bank for International Settlements study calls for bespoke approach to regulating mobile money service providers
Zero-policy rates 'ill-serve' emerging markets: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says near-zero interest rates are a disservice to emerging market economy borrowers
Tanzania jails two over central bank corruption scandal
First court cases heard after 2008 corruption scandal; two businessmen jailed
ECB’s González-Páramo paints picture of post-crisis policy framework
European Central Bank executive board member José Manuel González-Páramo outlines new elements of the post-crisis financial system norms
Fed took 'gamble' with QE: Reinhart
Federal Reserve former director of monetary affairs Vincent Reinhart pins volatile oil prices on Fed’s quantitative easing programme
RBI wants new law to better regulate financial companies
Reserve Bank of India working group wants all large financial groups to be governed by new financial holding company structure; central bank would serve as regulator
RBA’s Battellino expects credit growth to remain subdued
Reserve Bank of Australia deputy governor Ric Battellino says credit growth expected to stay in single-digits
IMF paper identifies Chinese credit market distortions
IMF study shows asymmetry in Chinese business cycles owes to non-uniform credit market imperfections and real exchange rate policy
Global imbalances top Riksbank Risk survey
Riksbank Spring 2011 Risk Survey shows market participants believe global imbalances pose greatest threat to Swedish financial system
Ireland clears way for greater central bank power
New Bill allows central bank to step in when banks are “failing or likely to fail”; will be able to shift assets to other institutions or replace management at a troubled bank
UK FSA’s handling of bank failure under review
Review of the British regulator’s report into the failure of Royal Bank of Scotland must assess whether report is “fair and balanced”; authority itself in line for close scrutiny
ECB’s Bini Smaghi warns of maturity mismatch from low interest rate environment
European Central Bank executive board member Lorenzo Bini Smaghi says low short-term interest rates risk are leading to over-leveraging in shadow banking