Financial Stability
State Bank of Vietnam announces counterfeit note findings
Fewer fake polymer notes were found in the country in the first half of 2012; good news for the currency after scandal involving Securency
RBA issues new market infrastructure proposals
Australian central bank unveils latest proposals to meet CPSS-Iosco principles for financial market infrastructures; says additional detail provides for ‘greater legal certainty’
Nigerian politicians blast central bank currency reform plan
Senate orders central bank governor to halt process of introducing a 5,000 naira banknote; chairman of Committee on Banking, Currency and Other Financial Institutions demands consultation
Cambodian governor highlights divergence in developing financial systems
Chea Chanto sets out ways in which South-east Asian central banks’ financial and banking systems differ; calls for regional development to catch up with international standards
Philippines governor expounds importance of consumer protection
Central Bank of Philippines’ Amando Tetangco emphasises the value of consumer protection; says it works in tandem with financial stability
Fed’s beige book reveals increased economic activity
US Federal Reserve economic summary reports expanding economic activity in the US; credit conditions said to be improving
ECB paper scrutinises sustainability of OECD public finances
European Central Bank working paper investigates public finances in sample of OECD countries; analyses causality between revenues and expenditures
Ghana replaces hologram on upgraded banknote
Acting governor issues new 50 Ghanaian cedi note; new design features emblem in shape of a cocoa pod that changes colour when note is tilted
Dombret proposes alternative to ECB-led supervision of banks
Deutsche Bundesbank’s Andreas Dombret discusses an EU-wide supervisory structure for banks; suggests it does not necessarily need to be headed by the ECB
No ‘lame duck year’ for the PBoC, says CBJ author Hui
China’s central bank has made progress in reforming the country’s financial system during the past year; progress exceptional given leadership elections, says Hui
IMF paper assesses Basel III liquidity buffer measure
Working paper proposes an extra measure of systemic risk to complement Basel III; suggests incentives for financial institutions to internalise risk
Bank of Mexico ‘categorically rejects’ altering money transfer records
Central bank dispels "unfounded" accusations of altering receipts for large money transfers to aid a political candidate; denies capability to carry out such wrong-doing
RBA paper explains shift in ATM usage
Research paper from Reserve Bank of Australia analyses impact of 2009 ATM reforms; finds increased transparency has driven consumers away from ‘foreign’ machines
Bank of Canada paper studies risk and debt maturity
Working paper finds firms facing higher volatility tend to issue debt with a longer maturity; increase in maturity period accelerates during a recession
Fed considers delaying stress tests for large banks
Federal Reserve considering altering the implementation timeline for stress tests required under Dodd-Frank; follows concerns raised about immediate effect date of changes
Shake-up of Nigerian currency announced
Sanusi Lamido Sanusi outlines plans for “restructuring” of currency; changes include introduction of new 5,000 naira banknote and improved security features on existing notes
Bank of Thailand's Prasarn Trairatvorakul on the central bank's 70th anniversary
On the eve of its 70-year anniversary, Bank of Thailand’s governor, Prasarn Trairatvorakul, talks to Blair Baker about the central bank’s emerging role in domestic, regional and global economics
The future of bank capital
Prudential regulators are relying on the Modigliani-Miller theorem to hold true as banks are required to hold substantially more capital. But could their faith in the theorem be misplaced?
Filipino banks offered help after tropical storm
Variety of measures put in place to ensure banks in areas affected by tropical storm and severe monsoon can assist with rebuilding efforts; penalties for missed payments set aside for example
Where the BIS falls short
Robert Pringle compares the analysis and policy recommendations offered by the BIS in its latest annual report with those in his new book, The Money Trap
Central bank's crucial role in Myanmar's new economic reform
The Central Bank of Myanmar is on the verge of securing operational independence and a budget that will enable it to double its headcount to help it oversee rapid economic reform
Can Japan afford to grow?
Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.
Germany's concerns about the ECB’s bloated balance sheet
The ECB’s unconventional monetary policy actions have caused a stir in Germany. The Bundesbank's Joachim Nagel speaks with Klaus Engelen about the risks the ECB now faces
The flaws in the Fed's new macro stress test proposals
New macro stress test proposals by the Fed and ECB appear to conflict with rules put forward by the UK, and are raising concern in countries where financial institutions are relatively robust