Financial Stability
IMF Global Financial Stability Report, Apr 2007
The International Monetary Fund published its Global Financial Stability Report for April 2007 on 10 April. In the report the IMF said the stability of the global financial system is being bolstered by favourable economic conditions, but some financial…
Contagion risk in the international banking system
In the IMF Working Paper "Contagion risk in the international banking system and implications for London as a global financial center" the authors use the extreme value theory (EVT) framework to analyze contagion risk across the international banking…
Nielsen on financial stability, Danish perspective
In the speech 'Financial stability, the Danish perspective' given on 23 March of the Danmarks Nationalbank said the IMF recommends that we establish a buffer pool to ensure the settlement of securities transactions and retail payments even if the largest…
FSF: Stormy markets require new risk thinking
The Financial Stability Forum said Thursday 29 March the recent turbulence in financial markets shows that market participants need to be prepared for the possibility of a major shift in investors' appetite for risk.
BoE's Clark on models of financial stability
In the speech 'Analytical models of financial stability' given on 28 March Alastair Clark of the Bank of England said further ahead, a framework does now seem to be emerging within which a more systematic discussion of financial risks can take place.
NBP's Rybinski on the payment system in Poland
In the speech 'SEPA and the payment system in Poland' given on 14 March Krzysztof Rybinski of the National Bank of Poland said an aspect which deserves particular attention in the discussion on SEPA is the harmonisation of the law within the payment area.
EU agrees cross-border payment plan
EU finance ministers on Tuesday 27 March agreed a plan to make cross-border payments more efficient throughout the 27-nation bloc and set new rules to limit political interference in banking takeovers.
ECB's Tumpel-Gugerell on payment systems issues
In the speech 'Regulatory framework and payment systems issues' given on 23 March Gertrude Tumpel-Gugerell of the ECB said within the European Union, it will be important for the proposed Payment Services Directive to be adopted and written into national…
RBA Financial Stability Review, March 2007
The Reserve Bank of Australia published the March 2007 edition of its Financial Stability Review on Monday 26 March. There are few risks to financial stability with the level of problem loans quite low and households adopting a cautious approach to their…
Quaden on the cash single shared platform
In the speech 'CashSSP - the cash single shared platform' given on 16 March Guy Quaden of the National Bank of Belgium said the Eurosystem has established itself as a sound system capable of taking well-founded monetary policy decisions.
Liikanen on the cash single shared platform
In the speech 'CashSSP - the cash single shared platform' given on 16 March Erkki Liikanen of the Bank of Finland said we expect that all Eurosystem central banks can and will participate in the emerging division of labour on the basis of reasonable…
New developments in clearing and settlement
The Committee on Payment and Settlement Systems (CPSS) issued a report on New developments in clearing and settlement arrangements for OTC derivatives on 16 March.
Why is market volatility so low?
According to this article from MoneyWeek, published Wednesday 14 March, the recent so-called drama around the world is more likely a long overdue reaction to months of relentless appreciation in global stock markets.
Market tumult a warning on risk: ECB's Garganas
The recent turmoil in financial markets is a timely reminder that risks to the global economy cannot be shrugged aside, European Central Bank governing council member Nicholas Garganas said on Thursday 15 March.
Bank of Japan, Financial System Report, March 2007
The Bank of Japan published its Financial System Report for March 2007 on 13 March. Japan's financial system as a whole has remained stable, the report said.
Narube on the newly designed Fiji banknotes
In the speech 'Unveiling the newly designed Fiji banknotes' given on 9 March Savenaca Narube of the Reserve Bank of Fiji said that the bank decided to stay with paper rather than change to polymer or plastic.
Don't blame China for volatility says PBOC's Zhou
People's Bank of China governor Zhou Xiaochuan dismissed on Monday 12 March the idea that the country's massive foreign currency reserves were the cause of recent market volatility.
G10 bankers: Stock correction reminds of risk
G10 central bankers said Monday 12 March that the recent correction in stock markets was a useful reminder of the risks faced by investors, but it has not altered fundamental growth prospects.
St Louis' Poole on inflation & financial stability
In the speech 'Inflation, financial stability and economic growth' given on 5 March William Poole of the Federal Reserve Bank of St. Louis said low inflation must be a central bank's prime goal, adding this had helped cushion the U.S. economy from its…
BIS's Knight on risk in the small and in the large
In the speech 'Now you see it, now you don't: risk in the small and in the large' given on 28 February Malcolm Knight of the BIS said there is no doubt that the financial system is now more resilient than it was in the past.
Iran plans banknote with atomic symbol - reports
Iran, which is currently embroiled in a row with the West over its nuclear ambitions, will issue a new banknote this month carrying an atomic symbol, newspapers reported on Sunday 4 March.
BIS Papers on evolving banking systems
BIS Papers from the 'Evolving banking systems in Latin America and the Caribbean: challenges and implications for monetary policy and financial stability', meeting of central banks of open economies in Latin America and the Caribbean, Jamaica, 26-27…
Report says watchdog to probe ECB settlement plan
The European Central Bank's plans to establish an integrated securities settlement system in the euro zone will be examined by the region's competition watchdog, according to a report by the FT Thursday 1 February.
Do we need the IMF to resolve a crisis?
The Bank of Canada Working Paper "Do we need the IMF to resolve a crisis? Lessons from past episodes of debt restructuring" investigates how debt restructurings have evolved over the decades.