Financial Stability
Leaders applaud IMF reforms, boosted safety net
Fund's boosted flexible credit line, new precautionary credit line praised by G20 leaders of the IMF
IMF’s Viñals envisages financial system of the future
IMF director of monetary and capital markets José Viñals lays out vision of future financial system; says financial stability will need to be integrated in monetary policy decisions although price stability should remain central banks’ primary mandate
SNB: immigrants reduce seigniorage
Swiss National Bank study shows increase in immigration reduces seigniorage for banknotes
Focus on trade rather than stimulus: business leaders to G20
International Chamber of Commerce honorary chair Victor Fung calls on G20 to focus on boosting international trade rather than monetary stimulus to raise growth; currency tensions expected to feature heavily at Seoul Summit
No single structure for clearing industry: CPSS
Bank for International Settlements report on clearing industry says differences in market structures reflect diverse sets of risks to operations
Palestine launches new RTGS system
Palestine Monetary Authority Real-Time Gross Settlement system allows for developments in online and mobile banking
Weaker growth led Israel to hold rates
Bank of Israel report shows poor terms of trade led to weaker growth outlook ahead of rate setting meeting
Emerging markets must rethink exchange rate strategy: Thailand's Trairatvorakul
Bank of Thailand governor Prasarn Trairatvorakul says new era of globalisation will require changes to domestic policy
RBI reopens second liquidity line to prevent credit squeeze
Reserve Bank of India introduces second liquidity adjustment facility after growth in government savings absorbs liquidity in money markets
Fed's Fisher lambasts QE2
Dallas Fed president Richard Fisher claims QE2 will not create jobs, just spur speculation; comments highlight threats to Bernanke consensus when Fisher and others become FOMC voters in 2011
Japan’s recovery stalling: BoJ
Bank of Japan’s Monthly Report of Recent Economic and Financial Developments November 2010 says Japanese recovery is losing momentum
Philippines’ Tentangco on launch of new ATM project
Central Bank of the Philippines governor Amando Tetangco says new ATM project will create more compatibility
Michael Bordo: Fed failed as lender of last resort
Federal Reserve did not fulfil its role as lender of last resort
India’s PM backs QE2
Backing from Manmohan Singh follows attacks from other emerging markets
Debt restructuring framework for Europe essential: Deutsche Bank
Deutsche Bank co-head of European economic research Mark Wall says officials must create credible restructuring mechanism for eurozone sovereigns
Senators call for 'vigorous' enforcement of Volcker rule
Carl Levin and Jeff Merkley urge FSoc to follow “statutory intent” of rule to limit proprietary trading; define key terms and supervisory approach
IMF: stricter ring-fencing creates greater incentive to build capital buffers
Fund study shows that policies to employ stricter ring-fencing on bank subsidiaries requires them to hold larger capital buffers
Bank of Italy’s Visco says Europe needs long term debt resolution plan
Bank of Italy deputy director general Ignazio Visco says successful fiscal consolidation in Europe will require voter backing
Zhou, Meirelles attack QE2
Central Bank of Brazil president Henrique Meirelles and People's Bank of China governor Zhou Xiaochuan bash Federal Reserve’s latest stimulus programme
Risk USA: Paulson refused to save Lehman over 'bailout guy' characterisation
Former White House economist details civil war between Bush administration and US Treasury
BoJ’s Shirakawa warns of spillovers from emerging markets
Bank of Japan governor Masaaki Shirakawa says financial excesses in emerging markets could lead to further global imbalances
FSB opens up to non-members with outreach proposal
Financial Stability Board to set up regional consultative groups to give non-members a presence in regulatory debate; move goes only half the way to correcting imbalance, DIFC chief economist says
New Fed office to aid stability, macroprudential efforts
Federal Reserve sets up financial stability policy office to coordinate institution-wide analysis on stability risks; J. Nellie Liang named director of office
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg