Financial Stability
Incentives the root cause of the crunch
Perverse incentives were the major cause of the current turmoil and changing those incentives will be the solution, an article published by the International Monetary Fund notes.
CLS adds peso and shekel to settlement fold
CLS bank announced that it will settle payment instructions in the Mexican peso and Israeli shekel this week, bringing the number of currencies processed by the bank to 17.
Netherlands to probe effect of bankers' pay
The Netherlands Bank is to scrutinise the impact of bankers' bonuses on risk taking, the governor of the institution has said.
Greenspan cautions on bursting bubbles
Alan Greenspan has defended one of the central tenets of his tenure at the helm of the Federal Reserve, warning that combating asset price bubbles could stunt innovation and growth.
RBA suggests settlement system improvements
The Reserve Bank of Australia has unveiled a series of recommendations aimed at improving the settlement process of, and broader market functioning for, Australian equities.
Spreads a poor gauge of crisis: Canada's Carney
Existing measures of interbank spreads are an unreliable way of measuring the effectiveness of central bank intervention in alleviating money-market tensions, said Mark Carney, the governor of the Bank of Canada.
De La Rue could sell cash systems division
De La Rue, the biggest private printer of banknotes, is considering the sale of some of its cash systems division.
Settlement system links present risks
Connections between two of Canada's main settlements systems present a threat to efficiency, research by the country's central bank finds.
Central banks key to South Asian payment systems
Central banks must spark the development of South Asian payment systems, said Ranee Jayamaha, the deputy governor of the Central Bank of Sri Lanka.
IMF's Lipsky cautious on recent bout of calm
John Lipsky, the first deputy managing director of the International Monetary Fund, refused to call the end of the global turmoil in a speech on Tuesday.
RBA appoints new assistant governor
The Reserve Bank of Australia has promoted Keith Hall to the position of assistant governor responsible for banking and payments.
NY Fed's Dudley on the crunch's causes
The recent market turmoil has been driven by two developments, says William Dudley, an executive vice president of the New York Federal Reserve.
Avoiding the deflation trap: three lessons from Japan
The Fed appears to have learned from Japanese monetary-policy mistakes of the early 1990s. But it could still find itself overwhelmed by events, argues Takeo Hoshi
Getting back on track
Jacques de Larosière analyses the problems with the originate-and-distribute model and what regulatory response is required
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.