Financial Stability
Israeli governor airs fears over impact of European slowdown
Stanley Fischer discusses European economic strife impact on Israeli growth prospects; expresses worries over possible methods for increasing defence budget
Eurogroup boosts emergency funding facility
European finance ministers agree to combine two emergency financing vehicles currently running simultaneously in the eurozone; also add €500 billion to lending capacity
Diverging views on US debt stimulate debate at NALM 2012
A difference of views emerged about the relative risks of US sovereign debt compared with alternatives during a panel discussion at NALM 2012 symposium on risk approaches in a post-crisis world
ECB’s Asmussen emphasises need for Greek reforms
Jörg Asmussen stresses importance of timely implementation of reform programme in Greece
BIS releases study on property markets and financial stability
Bank for International Settlements and Monetary Authority of Singapore discuss challenges to financial stability from property markets
Central Bank of Myanmar confirms currency float
Central bank announces managed currency float will commence next month; first public statement on exchange rate reform since military government left power last year
New Zealand proposes partial earlier adoption of Basel III capital requirements
New Zealand regulators have opted to bring in the capital conservation and countercyclical buffers ahead of the Basel Committee schedule – but market participants are unsure if this is necessary
Fed director cautious of ‘not fully known’ impacts of mobile banking
Sandra Braunstein testifies to US Senate on 'not fully known' ways the use of mobile devices can affect financial services
BoE’s Fisher calls for central banks to bulk up risk management capabilities
Paul Fisher explains benefits of central banks doing independent credit assessment when evaluating collateral; says risk management functions need to be ‘bigger’ in central banks
Interbank market ‘almost dead’ in Europe, says Banque de France’s Mongars
ECB operations are critical for European bank funding as the interbank market is all but broken, says NALM panellist
Norway research links income inequality and banking crises
Norges Bank working paper discusses role of income inequality in fermenting the financial crises in Norway in 1991-1992 and the US in 2008
IMF paper airs inflation fears for US monetary policy
IMF working paper finds continued loose monetary policy can only be maintained if inflation expectations are kept in check
Estonian governor calls for eurozone co-operation
Lipstok says eurozone member states must work together to ensure a sustainable economic recovery
RBA warns banks against chasing ‘unrealistic profit’
Reserve Bank of Australia’s latest Financial Stability Review cautions banks not to increase risk-taking by chasing ‘unrealistic profit expectations'
Bernanke commends global co-operation for stemming ‘meltdown’
Fed chairman says Fed and international policy actions prevented economic “meltdown”; says some areas of co-operation need improvement
IMF research finds exchange rate variations affect exports
International Monetary Fund study of renminbi fluctuations finds that variance in exchange rate impacts on exports of neighbouring developing economies
Bangladesh governor lauds role of microfinance in economy
Expanding microfinance sector contributes to domestic demand and poverty reduction, says Bangladesh Bank governor
Fed's Duke calls for focus on community projects in US
Elizabeth Duke highlights benefit to financial sector of engaging in community regeneration projects
Markets start to price in QE3 following Bernanke speech
Equity prices rise and dollar eases as markets interpret Federal Reserve chairman’s comments as signalling increased likelihood of further quantitative easing
OECD’s Gurría wants ‘mother of all’ firewalls in Europe
OECD secretary-general demands expansion of emergency funds available to struggling eurozone sovereigns; wants monetary conditions to remain ‘supportive’
Bank of Israel forecasts higher growth and inflation in 2012
Central bank says improving global conditions are the major driver as inflation and growth expectations in Israel are revised upwards
Zambia plans to start printing new currency by May
Bank of Zambia announces printing, minting and distribution of new banknotes and coins will be under way by May 2012
Richmond Fed paper highlights benefit of debt ceiling
Fed research finds governments can see improvements in fiscal positions when utilising debt ceiling targets
IMF's Shinohara airs concerns over slowing Asian growth
Weak demand in Europe and US has potential to harm growth prospects for Asia, says IMF deputy managing director