Financial Stability
Volcker should chair FSoc
Aspects of the Dodd-Frank Act are welcome but crises will continue to be mismanaged, Robert Pringle writes.
Euro counterfeits fall by 13%
ECB statistics show 387,000 forged euro banknotes recovered in first half of 2010; €50 note overtakes €20 as most popular bill to fake
HKMA, PBoC agree to expand renminbi business
New agreement will enable banks in the territory to establish renminbi accounts for financial institutions
East Asian, Pacific governors set for 15th annual meeting
Executives’ Meeting of East Asia and Pacific Central Banks gears up for 15th outing in Sydney; regional currency and financial stability issues to dominate agenda
EU’s Barnier: paradigm shift in regulating OTC derivatives
European Commission commissioner for internal market and services Michel Barnier says concept of light touch regulation is history
Fed is the main winner from Dodd-Frank bill: Meyer
Former Federal Reserve governor Laurence Meyer says the central bank has gained powers it wanted and shed responsibilities it did not, despite initial anti-Fed sentiment among lawmakers
Wellink: OTC markets still need good risk management systems
Basel Committee chairman Nout Wellink warns central clearing house not a silver bullet for over-the-counter derivatives markets
Credit boom overlooked due to silo culture in credit markets
Financial Times journalist says informational barriers between credit specialists and regulators meant credit markets were poorly managed pre-crisis
Thailand’s Watanagase calls for greater economic resilience
Bank of Thailand governor Tarisa Watanagase proposes measures to bolster economy from impact of external and domestic shocks
India approves new currency symbol
Indian government picks symbol for rupee after nationwide contest; says country’s growth and arrival on the international economic stage merit symbol
FOMC faces tricky task in avoiding another bubble
FOMC officials’ pessimism about conditions highlights challenge central bank faces in fulfilling its dual mandate
Basel Committee counter-cyclical proposals tie buffers to economic indicators
Committee publishes paper on counter-cyclical capital and defers recommendations on Basel III to oversight board meeting on July 26
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
RBI's Gopinath says regulation key in OTC reforms
Reserve Bank of India deputy governor Shyamala Gopinath discusses challenging process of calibrating India's over-the-counter derivatives markets
Central bank auctions reveal banks' liquidity risks
BIS study says aggressive bidding in central bank auctions good indication of liquidity risks at banks
Spanish banks’ reliance on ECB rockets again
Bank of Spain data shows the country’s lenders borrowed 48% more from the European Central Bank in June than in May; figures renew worry on sector’s health, but government remains adamant
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Tough capital rules will not stunt growth: Bank's Miles
Bank of England rate-setter David Miles roundly dismisses industry argument that harsher capital standards will choke off growth
Hong Kong investors claw back more Lehman losses
Hong Kong unit of DBS bank will pay just under $84m in compensation to holders of Lehman-linked credit notes; settlement follows on from agreement on minibonds
Wadhwani scolds central banks for reluctance to say sorry
Former Bank of England Monetary Policy Committee member disappointed over central banks' reluctance to admit need to lean against the wind
FSA’s Turner: financial deepening has its limits
Financial Services Authority chairman Adair Turner says no clear relationship between financial deepening and growth in advanced economies over the past 30 years
BoE's Haldane calls for new measure of banks' growth
The “golden era” of finance between early 1990s and 2007 was no productivity miracle as national accounts data and growth accounting suggest
Malaysia's Zeti launches new Islamic finance task force
Bank Negara Malaysia governor Zeti Akhtar Aziz announces plans for new financial stability task force
Fed survey shows growing appetite for risk in OTC markets
Inaugural Federal Reserve survey on financing of over-the-counter derivatives shows growing demand in risky assets