Financial Stability
Globalisation accelerated IMF's reaction
The pace of the International Monetary Fund's (IMF) crisis responses has increased with the rise of financial globalisation, a new research from the Central Bank of Chile shows.
RBA's Edey: regulation determined risk taking
Financial regulation unintentionally shaped the excessive risk-taking that occurred in the run up to the credit crisis, said Malcolm Edey, the assistant governor of the Reserve Bank of Australia.
King moots Glass-Steagall revival
Mervyn King, the governor of the Bank of England, has called for a debate on whether the global financial crisis has shown that a Glass-Steagall type provision is needed to prevent retail deposits from being used to fund investment-banking activities.
BoJ pledges up to 1 trn in subordinated loans
The Bank of Japan is to offer its banks subordinated loans worth up to 1 trillion ($10.1 billion) to bolster its banking sector, crippled by the recent slump in equity prices.
How the US can abate anger at bankers' bail-out
Brendan Brown, the chief economist at Mitsubishi UFJ Securities, offers two remedies to temper public outrage at the bail-out of Wall Street.
Serbian governor contradicts Belgrade on EU aid
Radovan Jelasic, the governor of the National Bank of Serbia, has said that central and eastern European states should avoid over-reliance on European Union (EU) aid just hours after it emerged that Belgrade was seeking assistance from Brussels.
Italy's Draghi calls on banks to raise capital
Mario Draghi, the governor of the Bank of Italy, has urged the country's banks to increase their capital ratios to shore up confidence in the financial sector.
South Africa's Mnyande: no time to sit and wait
Strengthening southern Africa's ability to prevent future crises is vital, Monde Mnyande, the chief economist of the South African Reserve Bank, has warned.
Fullani highlights main risks to Albania
The drop-off in remittances and a tightening of financing conditions are the main threats from the global crisis to the Albanian economy, said Adrian Fullani, the governor of the country's central bank.
Bric economies call for greater voice
Brazil, China, Russia and India, the four leading emerging-market economies, have pressed for a greater say in the running of the Bretton Woods institutions.
Stiglitz laments US's "bogus" bailouts
Joseph Stiglitz, the 2001 Nobel Laureate, tells CentralBanking.com why the US administration must set up its own lender and stop pandering to the banks if it is to fix the economy.
Serbia seeks more IMF, EU aid
Serbia is in talks with the International Monetary Fund (IMF) and the European Union (EU) to secure more emergency funding to bolster its reserve stockpile and limit the social impact of the crisis.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.
Basel, IADI issue deposit insurance guidelines
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers (IADI) has issued a set of global guidelines for deposit guarantee systems.
De Larosiere, Dodge to lead new global watchdog
Jacques de Larosiere and David Dodge are to head a private-sector-sponsored international monitoring group tasked with assessing risk and fostering stability.
Canada's Longworth faults VaR
Methodologies based on Value at Risk (VaR) that are too dependent on short historical samples cause procyclicality, said David Longworth, a deputy governor of the Bank of Canada.
Fed's Braunstein urges caution on lending rules
Any new laws on lending practices need to carefully target abuses without unduly restraining responsible credit, said Sandra Braunstein, the director of the division of consumer and community affairs of the Federal Reserve.
AIG cutting costs, Bernanke assures senator
Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to…
NY Fed names new senior VP for cash and custody
James Narron is the new senior vice president responsible for the cash and custody function at the New York Federal Reserve.
Recovery a long way off: Wellink
Despite strong interventions, recovery of the banking system seems a long way off, said Nout Wellink, the president of the Netherlands Bank and chairman of the Basel Committee on Banking Supervision.
Japan must take active role in regulatory revamp
Japan should be prepared to play an active part in the discussions over a new international system of financial regulation, said Atsushi Mizuno, a member of the Bank of Japan's Monetary Policy Council.
PMA's Alwazir: reform agenda continues
The recent escalation of the conflict with Israel wreaked havoc on Gaza's banking sector. But the Palestine Monetary Authority (PMA) has ploughed on with its reform efforts
BoJ may need to buy shares: ex-deputy Muto
Toshiro Muto, a former deputy governor of the Bank of Japan who was in the running to succeed Toshihiko Fukui as head of the central bank, has admitted that the central bank may need to bolster the country's leading stock index.
Fed's Hoenig criticises Tarp
Thomas Hoenig, the president of the Kansas City Federal Reserve, has criticised the Troubled Assets Relief Programme (Tarp) for its lack of a clear set of principles and said that its implementation appears ad hoc and opaque in dealing with banks judged…