Financial Stability

Hoenig moots Fed for bigger payments role

A lack of competition, concerns over integrity and the existence of externalities in the payments sector justify a greater role for the Federal Reserve in the industry, Thomas Hoenig, the president of the Kansas City Fed, has said.

Interview: William White

Claire Jones speaks to William White about the lessons from history in getting out of the current crisis and the need for thinking more long term about the consequences of policymaking

Banking crises bring longer downturns

Financial turmoil characterised by banking distress is more likely to result in severe and protracted downturns than crises caused by volatility in securities or foreign exchange markets, new research from the International Monetary Fund posits.

Basel Committee's Wellink wants burden shared

Nout Wellink, the president of the Netherlands Bank and the chairman of the Basel Committee on Banking Supervision, has said that he is in favour of proposals for supranational supervision in Europe but warned that the issue of burden-sharing was crucial.

Our outdated global monetary regime must go

From its roots in post-war reconstruction, the current international monetary system has evolved into a regime fundamentally unsuited to the realities of today's global economy. But it cannot last, writes Ousmene Mandeng

BIS data show derivatives market contracting

The rapid growth of the derivatives market reversed in the wake of the collapse of now-defunct investment bank Lehman Brothers - an event which revealed the fragility of the industry - data from the Bank for International Settlements (BIS) out Tuesday…

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