Financial Stability
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.
Minneapolis Fed sheds light on crisis myths
Four widely-held beliefs about the financial crisis of 2008 are false, research from the Minneapolis Federal Reserve finds.
First global summit set for 15 November
Leaders from the Group of 20 countries will gather in Washington DC on 15 November to discuss the global financial crisis and the world economy, the White House said on Wednesday.
ECB's Bini Smaghi pans US for Lehman collapse
A top European Central Bank (ECB) official has condemned Washington's decision to let Lehman Brothers, a now-defunct investment bank, go bust last month.
King justifies re-capitalisation
With banking conditions at their direst since the beginning of First World War, the British Treasury had to re-capitalise the country's ailing banking sector, said Mervyn King, the governor of the Bank of England.
RBA's Stevens praises British bailout
The British government's intervention plan appears to have all the key elements needed to restore health to the key international institutions, Glenn Stevens, the governor of the Reserve Bank of Australia.
Czech banknote wins prize
The International Association of Currency Affairs, an industry body, has announced that the Czech National Bank (CNB) was the runner-up in its Banknote of the Year award for the 1000-krone banknote, issued in April this year.
Flight from Fannie, Freddie may cloud US outlook
Official institutions' flight from US agency debt could hamper the effectiveness of Fannie Mae's and Freddie Mac's role in repairing the US mortgage market.
Singapore, Malaysia guarantee all deposits
Singapore and Malaysia became the latest countries to issue blanket guarantees on all deposits on Thursday.
Bank appoints new financial stability director
The Bank of England has promoted Andrew Haldane, the head of its systemic risk assessment division, to executive director for financial stability.
Ex-Fed's Poole: Treasury coercion may hinder plan
The US Treasury's decision to force some banks to participate in its plan to recapitalise America's banks could prove its undoing, warned Bill Poole, a former president of the St Louis Federal Reserve.
A credit risk model for all
Research from the Czech National Bank and the Bundesbank provides a template to investigate the credit risk environment of any economy.
Swiss step in to save biggest bank
The Swiss National Bank on Thursday agreed to buy up to $54 billion in troubled assets from UBS, after the country's government moved to re-capitalise the beleaguered bank.
ECB to loan Hungary up to €5 billion
The European Central Bank (ECB) on Thursday granted the National Bank of Hungary a €5 billion ($6.8 billion) credit line following sharp declines in the forint and local stocks the day before.
OTC derivatives central counterparty issue urgent
The Financial Stability Forum, a collection of central bankers and financial regulators, has urged market participants to swiftly establish a central counterparty for over-the-counter (OTC) credit derivatives, in its follow-up report on enhancing market…
Trichet: joint action sets precedent
Monday's decision to provide broad access to liquidity and unlimited dollar funding marked a "world premiere" in exceptionally-confident cooperation between central banks, Jean-Claude Trichet, the president of the European Central Bank (ECB), has noted.
SF Fed's Yellen: US in recession
The US economy appears to be in recession as every major part of the economy has been hit by the financial shock, said Janet Yellen, the president of the San Francisco Federal Reserve.
MPC's Sentance: downturn risks on the rise
Severe stresses in the financial system and the news from the real economy have certainly increased the risks of a bigger and more sustained downturn, said Andrew Sentance, a member of the Bank of England's Monetary Policy Committee.
ECB makes bold attempt to break credit logjam
The European Central Bank's (ECB) latest action to unblock money markets, announced Wednesday, looks likely to succeed, economists say.