Financial Stability
Mixed market response as Greece deal is proposed
Regional stock indexes show different impact as eurozone agrees on more bail-out funds for Greece; price of gold edged higher as euro rose after news broke
Bank of Japan adds to Tankan survey pool
Japanese central bank refreshes companies and financial institutions that make up the sample group for the influential survey; adds 102 enterprises and five financial institutions
New Norwegian coin commemorates Royal birthdays
Norges Bank reveals a commemorative silver coin to celebrate the birthdays of King Harald and Queen Sonja; profits from sale will go to charities
New fault lines in financial regulation
Deleveraging could trigger another crippling credit crunch in Europe at a time when the recovery is still fragile. By Jacques de Larosière
Asia to develop emergency financial stability safety net
Charles Adams and Lei Lei Song chart the development of the Chiang Mai Initiative Multilateralization and explain three ways to develop Asia’s liquidity support mechanism
A new toolkit for eurozone survival
The eurozone’s short-term outlook depends on markets, voters, bureaucrats and politicians. Its longer term future requires radical change. Andrew Smithers considers the conditions that are needed for the eurozone to survive
Brendan Brown on life after death for the Emu
Brendan Brown puts forward a proposal for how a functioning monetary union in Europe could operate if the current system was to fail
Data: a core challenge for financial regulatory reform
Improving financial stability through the use of interconnected and predictive supervisory tools requires a rethink on data. By Constantin Gurdgiev and Keith Saxton
EU leaders present plan for growth
EU member state leaders issue joint statement on restoring growth to the economy; all eyes on finance ministers’ meeting in Brussels
Central Bank of Chile paper questions efficiency of forecasts
Research paper finds taking weighted averages of two competing forecasts can introduce inefficiencies
Indonesia’s Nasution discusses global and domestic pressures
Governor of Bank Indonesia explains impact of global downturn and laments slow progress in resolving ongoing issues with Indonesian financial system
Riksbank offers explanation for lending to IMF
Swedish central bank sets out reasons for recommending an increase in the country's contribution to IMF funds
Central bankers attend Financial Action Task Force meeting
Central bankers from many of the 136 member countries of FATF share thoughts on combating money laundering
European Commission to propose regulation on CSDs
European Commission announces new rules targeting central securities depositories to be released in March; wants to ensure securities transactions are settled in a “safe and timely manner”
Australia set to formalise payment system mishap reporting
Reserve Bank of Australia announces intention to establish strict rules on informing the central bank of operational incidents in retail payments systems; launches consultation process
NY Fed paper discusses budget deficit impact on output
Federal Reserve Bank of New York staff paper finds running budget deficits can be either expansionary or contractionary for output, depending on how deficits interact with expectations about the long run
Bank of Canada sees 'significant risks' to inflation outlook
Bank of Canada’s Monetary Policy Report for January 2012 sets out “significant risks” that threaten the inflation outlook
IMF offers fresh perspective on stress testing
International Monetary Fund researchers investigate stress testing in interconnected banking systems
Nazis “destroyed confidence” in BoE notes with expert counterfeits
MI5 report from 1945 says Nazis destroyed confidence in British banknotes; produced counterfeits of such high quality it was “impossible” for a lay person to tell them from the real thing
Robert Pringle’s Viewpoint: Central bank macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction
IMF paper investigates valuation impacts of geographic diversification
Paper finds shareholders are less able to monitor firm executives in diverse bank holding companies; allows corporate insiders to extract larger private benefits
Norges Bank governor sees ‘bright spots’ in global picture
Despite tough conditions globally, Øystein Olsen says growth in Asia and limited recovery in the US are welcome positives