Financial Stability
IMF: crisis calls for new statistics
Understanding the crisis may require out-of-the-box thinking on data, said Adelheid Burgi-Schmelz, the new director of the International Monetary Fund's (IMF) statistics department.
Turkey's Yilmaz: FX liquidity support in place
The central bank put into effect measures to support foreign exchange liquidity in the domestic banking system, said Durmus Yilmaz, the governor of the Central Bank of the Republic of Turkey.
US: debit cards and electronic payments rising
Electronic methods of cheque clearing are rapidly replacing traditional paper methods, reports a new paper from the Federal Reserve Board.
Norges's Qvigstad - central banks are changing
Liquidity policy is now at the forefront of the monetary policy scene, said Jan Qvigstad, the deputy governor of the Norges Bank.
Banks' social role key to new rules: ex-FSA head
The revision of the social contract between banks and government should be central to the debate about how to legislate against future crises, Britain's former chief regulator has said.
Interbank rates improve
Beyond the gyrations of the stock markets, there were continued signs that conditions in the interbank markets were on the mend.
Fed hikes cheque processing costs by 41%
In a bid to encourage the move to electronic processing of cheques, the Federal Reserve will increase its charges for the processing of paper by 41% in 2009.
IMF relaxes lending conditions for quick fixes
The International Monetary Fund (IMF) has offered to provide no-strings-attached loans in days to select countries facing liquidity problems.
Fed extends swaps to emerging markets, cuts to 1%
The Brazilian, Mexican, Korean and Singapore central banks on Wednesday became the latest to set up swap arrangements with the Federal Reserve to counter dollar liquidity fears.
Riksbank to lend to corporates
The Riksbank on Wednesday agreed to extend access to its funds beyond the banking sector to large corporates struggling to borrow in the wake of the global market turmoil.
IMF, EU, World Bank to loan Hungary $25bn
The International Monetary Fund (IMF), the European Union (EU) and the World Bank will lend Hungary $25.1 billion in an attempt to avert a financial meltdown.
New Zealand sets up $15bn swap line with Fed
The Reserve Bank of New Zealand on Wednesday became the latest institution to arrange a swap line with the Federal Reserve to counter continuing tensions in dollar funding markets.
IMF kitty may prove insufficient: British PM
The International Monetary Fund (IMF) may have insufficient resources to fight the global credit crisis, Gordon Brown, the British prime minister, warned on Tuesday, saying that a new funding arrangement drawing on countries with substantial reserves was…
Bank calls for systemic risk re-think
The Bank of England on Tuesday called for a strengthening of cross-border crisis management, criticising the decision by some authorities to offer blanket guarantees on deposits.
Serbia's Jelasic apprehensive on intervention
Government intervention has had little success so far in taming market sentiment, said Radovan Jelasic, the governor of the National Bank of Serbia.
IMF pledges $18.6bn to Ukraine, Iceland
The International Monetary Fund (IMF) has agreed multi-billion dollar loans with Reykjavik and Kiev, and said it is close to agreeing terms for Hungarian assistance.
Public sector should provide liquidity: RBA
The public sector should provide liquidity in times of stress, finds a new paper from the Reserve Bank of Australia
SEPA at a crossroads - ECB's Tumpel-Gugerell
SEPA, the Single Euro Payments Area initiative, is at a crossroads, said Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank.
Stay vigilant, SARB warns markets
Financial system authorities and participants must stay vigilant, and enhance efforts to improve resilience and contingency measures, states the latest Financial Stability Review from the South African Reserve Bank.
India impacted by global turmoil
Recent events in India's financial markets reflect adverse developments and extreme uncertainty in international financial markets, opines the latest macroeconomic and monetary development mid-term review from the Reserve Bank of India.
Singapore's Lim: deposit guarantee precautionary
Singapore's recently-announced guarantee on deposits is a measured and precautionary action, said Lim Hng Kiang, the deputy chairman of the Monetary Authority of Singapore.
We were powerless to save Lehman, says Paulson
The US Treasury and the Federal Reserve had to let Lehman Brothers fail because the now-defunct investment bank did not have enough good collateral on its books to guarantee a Fed loan, Hank Paulson, the US treasury secretary, has said.
ECB's Heinonen scoops lifetime achievement award
The man who oversaw the euro cash changeover has been honoured with a lifetime achievement award from the International Association of Currency Affairs, a trade body for the currency industry.
No uniform path to euro
There is no one-size-fits-all euro adoption policy available for the eight new EU countries from Central and Eastern Europe, finds a new paper from the Bank of Estonia.