Financial Stability
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
ECB’s Tumpel-Gugerell outlines challenges for ESRB
ECB executive board member Gertrude Tumpel-Gugerell says European Systemic Risk Board must overcome limitations to measuring systemic risk
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
Isoard to head International Association of Deposit Insurers
International Association of Deposit Insurers appoints former governing board member of Mexico's deposit protection agency Carlos Isoard as next secretary general
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Weber’s German defence highlights leadership flaws
Bundesbank president Axel Weber blames deficit countries for eurozone’s woes; analysts say comments further complicate chances at ECB presidency
BIS must fix data gaps: Bank paper
Bank of England paper identifies specific information gaps in cross-border banking statistics published by Bank for International Settlements; improvements thought to be under way
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit
US to launch financial stability council next week
Financial Stability Oversight Council to hold first meeting on 1 October
Bank of Russia wants to scrap kopek coin
Russian central bank proposes that one and five kopek coins be abolished due to high metal prices and low demand
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
Analysts applaud passage of ESRB, fret over practical concerns
Commentators praise the concept of a continent-wide systemic risk supervisor but say politics and lack of policy clarity could thwart good intentions
Riksbank's Svensson says monetary policy had no role in crisis
Riksbank deputy governor Lars Svensson denies monetary policy was responsible for the financial crisis
Japan: not a bad record
In the final article of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted Japan’s global outlook
EMEs deserve bigger role in reform debate: DIFC, CIC officials
Dubai International Financial Centre's Nasser Saidi and China Investment Corporation's Jin Liqun say emerging markets' prominence set to endure, mandating bigger voice in regulatory reform process
EU bailout vehicle nets top credit rating
European Financial Stability Facility secures triple A rating
More than half of Hong Kong banknotes held outside territory
Hong Kong Monetary Authority research cites increased integration with mainland and popularity of Macao as factors
UK Treasury tables insolvency plans for investment banks
Treasury says Lehman Brothers’ failure showed strong case for introducing special administration regime for investment banks
Weber on growth prospects after the crisis
Bundesbank president stresses financial stability has to and will be reinforced
Ghana’s Amissah-Arthur on a step to modernise payments
Governor of the Bank of Ghana says Central Securities Depository will become central bank subsidiary in order to modernise payments
Shirakawa rights wrongs of ‘lost decade’
Bank of Japan governor challenges barbs over economy’s, and central bank’s, performance over recent decades; calls for “deeper understanding” of liquidity and counterparty risk
IMF’s Lipsky: G20 Seoul Summit “the first test”
Formation of a Comprehensive Action Plan true measure of whether lessons of crisis have been learned