Financial Stability
BoE: Agents’ summary of business conditions (June 2010)
Bank of England’s June summary of business conditions finds retailers fear government spending cuts
ECB paper: global finance has little impact on Mediterranean
Real economy, not finance, impacts Mediterranean, research published by the European Central Bank posits
Nordic and Baltic regions strike financial stability deal
Eight Nordic and Baltic countries sign Memorandum of Understanding on cross-border financial stability and crisis management
Are CoCos from cloud cuckoo-land?
The rationale for requiring banks to hold contingent capital is right. However, the mechanics of their operation and market implications may be subject to doubt, argues Charles Goodhart.
Bank's Haldane: regulators must consider changing shape and structure of finance
Executive director for financial stability at the Bank of England says regulators should reconsider the structure of financial contracts, markets, and institutions
Welcome to Twin Peaks
The decision by the British government to adopt the Twin Peaks model of financial regulation represents a significant turnaround in the Bank of England’s political fortunes, writes Michael Taylor.
Too big to fail, too big to reform
Robert Pringle and Hugh Sandeman ask is this the damning verdict of the latest batch of books on the financial crisis?
Tokyo story
Robert Pringle reports from Tokyo on how the crisis has impacted Japan’s outlook.
Why monetary base control can offer stability
There is a way of replicating the big achievements of the gold standard without going back to gold, argue Brendan Brown and Robert Pringle.
Ex-PBoC’s Su new chair of country’s biggest electronic payments provider
Former People’s Bank of China deputy governor Su Ning made chairman of China UnionPay, country’s biggest payments service; Su replaces Liu Tinghuan, also formerly of the central bank
Interview: Patrick Honohan
The governor of the Central Bank of Ireland tells Claire Jones what went wrong in Ireland and how he plans to stop it happening again.
Preventing system failure
A model borrowed from ecology offers new insights for policymakers in how to understand and combat systemic risk, writes Claire Jones.
Interview: Andrew Haldane
The executive director for financial stability at the Bank of England talks to Robert Pringle about lessons from the crisis, the macroprudential toolkit, links between monetary policy and financial stability, and whether the banking industry needs to be…
Interview: Charles Plosser
The president of the Federal Reserve Bank of Philadelphia talks to Claire Jones about financial reform, how monetary policymaking needs to change and the dangers of assuming central bankers can remedy all economic ills.
NY Fed: emergency dollar swap lines a success
New York Federal Reserve study says dollar swap facilities provided effective source of funding to banks during financial crisis
Spanish bank borrowing from ECB continues to balloon
Spanish banks continue to depend on European Central Bank after stress tests exposed capital shortfalls
BIS’s Borio on the paradox of financial instability
Bank for International Settlements’ Claudio Borio warns that system appears strongest when it’s most vulnerable
Denmark’s Bernstein explains new investment income estimation method
National Bank of Denmark governor Nils Bernstein says new method will enhance analysis of balance of payment movements
IMF: financial stress distorts losses in defaults
IMF study says probability of default measures do not fully account for potential losses
‘Bail-in’ rather than bailout, says European markets group
Association for Financial Markets in Europe proposes regulator-enforced version of contingent capital to replace state-funded bailouts; proposals still troublesome, Goodhart says
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
SNB posts smaller-than-forecast loss
Swiss National Bank’s first half loss $949m smaller than expected as gold and UBS bailout vehicle put in strong performances; reverses end-2009 purchase of UBS shares to guard against loss
Philly Fed investigates impact of shocks on credit lines
Philadelphia Federal Reserve examines the effect of the subprime crisis on credit lines