Financial Stability
Early lessons from the crunch
A report on of the current debates around the credit crisis and what it could mean for the future of central banking. Edited by Robert Pringle
Interview: Robert Shiller
Robert Shiller, one of the leading authorities on the American housing market and the structured products built around it, talks to Malan Rietveld about the causes of the current crisis and the policy response
Crisis shows need for capital cushions: Bernanke
The recent turmoil underscores the importance of generous capital cushions for protecting against adverse conditions in financial and credit markets, Ben Bernanke, the chairman of the Federal Reserve, noted.
Zimbabwe prints Z$500m note
The Reserve Bank of Zimbabwe said on Thursday it will circulate a note worth Z$500m ($2,44).
Liquidity scheme stabilising markets: BoE staff
The Bank of England's governor and head of markets said on Wednesday that its Special Liquidity Scheme, introduced in late April, had begun to temper money-market tensions.
Bernanke cautiously upbeat on liquidity
Ben Bernanke, the chairman of the Federal Reserve, signalled on Tuesday that he believed liquidity conditions in the US were slowly returning to normal.
Don't stall on euro decision: ex-CNB deputy
Ludek Niedermayer, a former deputy governor at the Czech National Bank, has warned the government against pursuing a wait-and-see strategy on joining the eurozone, describing such behaviour as "a little bit cowardly".
Charge for payment services, says Norway's Gjedrem
Offering payment services for free is not in bank customers' best interests, Svein Gjedrem, the governor of the Bank of Norway, warned.
Slovakia to join eurozone in 2009
Slovakia is set to become the 16th member of the eurozone despite concerns at the European Central Bank that inflation in the country could rise steeply.
NZ eases rules to ward off turmoil
The Reserve Bank of New Zealand has relaxed its collateral rules as a precaution against further tumult in global financial markets.
Zimbabwe prints Z$250m note
The Reserve Bank of Zimbabwe will circulate two notes worth Z$100m and Z$250m in an attempt to limit the impact of hyperinflation.
Limiting foreclosures essential: Bernanke
Ben Bernanke, the chairman of the Federal Reserve, has called on both the public and private sector to do everything they can to limit preventable mortgage foreclosures.
Central banks announce third wave of joint action
In a clear message that the credit crisis is far from over, three leading central banks announced a further series of liquidity injections in a bid to restore money market spreads to normal levels.
Iceland's banks are strong: Fridriksson
Icelandic banks are expected to have performed relatively well in the first quarter of the year, said Ingimundur Fridriksson, the governor of the Central Bank of Iceland.
Capital controls can serve as liquidity buffers
Reserve requirements can be used to prevent the occurrence of a bank run by maintaining adequate levels of liquidity, according to a new International Monetary Fund paper.
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
Give Canadian CB more say on collateral: Carney
Mark Carney, the governor of the Bank of Canada, urged lawmakers to allow the central bank to broaden its list of eligible collateral to alleviate money-market tensions.
Stop storing coins, says Solomon Islands CB
The Central Bank of the Solomon Islands has called on citizens to swap their coins for notes rather than hoarding them - a practice which has led to a shortage.
Securitisation linked with lending standards fall
Lending standards in the subprime mortgage market declined more in areas with higher mortgage securitisation rates, reports a new International Monetary Fund paper.
ECB's Papademos on financial integration
Financial integration is highly relevant to the Eurosystem's role in safeguarding financial stability, said Lucas Papademos, the vice president of the European Central Bank (ECB).
Thailand's Watanagase on the role of the IMF
The development of crisis prevention instruments by the International Monetary Fund (IMF) is critical and should be given priority, said Tarisa Watanagase, the governor of the Bank of Thailand.
Hurley praises Ireland's financial oversight
The level of co-operation between central bankers and regulators in Ireland proves very useful in managing financial crises, said John Hurley, the governor of the Central Bank and Financial Services Authority of Ireland.
UK counterfeit seizures fall for 3rd straight year
The number of counterfeit banknotes in circulation confiscated by the British authorities plummeted by almost a quarter last year. The total face value of counterfeit notes found also fell by a similar degree.