Financial Stability
BIS sceptical on reserves role for SDR
Trying to create global currency from accounting unit would not solve problems highlighted by the crisis
UK officials must consider cultural factors in regulatory overhaul
Navigating the transition to Britain’s new regulatory regime is fraught with cultural challenges, writes Michael Foot
SNB: Quarterly Bulletin – June 2010
Swiss National Bank estimates export driven growth of 2% in 2010, despite renewed tensions in Europe
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Old Lady: banks must reduce reliance on rating agencies
Bank of England calls for capital incentives for firms that rely less on external ratings; urges Basel Committee to go slow on introducing Basel III
Philly Fed: freedom of databases may improve market oversight
Philadelphia Federal Reserve study on macro-micro databases shows that had information been made readily available, the crisis may have been less pronounced
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket
Iceland poised to lift all capital controls
Central Bank of Iceland says full liberalisation could begin at the end of July, as króna continues to soar and inflation falls closer to target; draws on bilateral credit lines to boost reserves
Bank of Italy: location, not size instrumental to debt restructuring
Bank of Italy study finds debt restructuring of firms is more likely when located closer to borrowers
Demand and supply forces restriced credit: Bank of Italy
Bank of Italy study finds declines in demand and supply of credit dampened lending growth in Italian banks during financial crisis
ECB meet signals Gulf’s common currency intent despite euro woes
Governors of Saudi Arabian Monetary Agency, the Central Bank of Kuwait and Qatar Central Bank to meet with Jean-Claude Trichet and Mario Draghi next week to discuss how best to adopt a single currency
Eurozone crisis threatens Canadian financial stability
Bank of Canada links deterioration of risks surrounding global imbalances and the growth outlook to single currency zone’s sovereign debt crisis
BIS: Crisis response lacks rigour compared to Nordic countries in 90s
Bank for International Settlements study into the recent financial crisis says policy response may slowdown recovery
Fed calls on banks to step up pay reform
A Federal Reserve review on executive compensation says firms need a more comprehensive review of risks relating to misaligned pay incentives
Bank of Spain proposes more efficient stress test method
Bank of Spain study explores new methods of stress testing that identifies more harmful risks to previously unscreened institutions
Sovereign bonds lost safe haven status in crisis: Bundesbank
Bundesbank study on sovereign bond spreads finds marked change in perceived risk of holding government debt following the bailout of Bear Stearns
BIS’s Caruana warns macroprudential policies may have unintended consequences
Bank for International Settlements general manager Jaime Caruana says macroprudential policies alone do not guarantee protection from systemic risks
Broader card payment security measures may minimise fraud: Kansas Fed
Kansas Federal Reserve study on card payment fraud says more can be done to improve the security of card based transactions
Trichet: European Union needs to adopt sanctions to curb spending
ECB president Jean-Claude Trichet proposes sanctions against countries that overspend in order to fulfill obligations of new crisis management institution under review
PBoC to regulate non-bank payments providers
People’s Bank of China sets out new legislation governing non-financial institutions that provide payments services; law an attempt to shed light on burgeoning payments network
Cyprus's Orphanides: central banks in best position to supervise risks
Cypriot central bank governor Athanasios Orphanides says central banks are in best position to oversee macroprudential risks
National Bank of Belgium - Financial Stability Review (2010)
National Bank of Belgium's financial stability review outlines shortcomings of government law passed on banking recovery measures
Draghi backs EU move on stress tests
Bank of Italy governor Mario Draghi sees publication of results of stress tests of Europe’s biggest banks as key to calming market jitters; EU move follows Spanish decision to publish results of its stress tests earlier this week
‘Moment of truth’ for the euro, says former BoE deputy governor
John Gieve says eurozone countries are showing the political will to ensure the currency block stays intact and expresses his support for the UK's new 'twin peaks' regulatory framework