Financial Stability
EU banking sector reform group finalised
EU commissioner reveals picks for expert group on banking reforms; governor of the Bank of Finland is chairman
Turkey agrees currency swap with China
Central Bank of the Republic of Turkey and People's Bank of China agree currency swap
RBI’s Chakrabarty notes progress in Indian banking sector
Reserve Bank of India deputy governor says improvements still needed in financial inclusion, competition, consolidation and globalisation
Asean+3 safety net needs more firepower
The regional liquidity safety net in Asia created via the Chiang Mai Initiative is still small and needs a more aggressive pre-emptive mandate if it is to head off crises before they occur
Spain’s Ordóñez remembers former governor
Governor of the Bank of Spain delivers opening remarks at conference held in memory of Luis Ángel Rojo, former governor of the central bank, who passed away last year
Vietnam and San Francisco Fed reflect on banking seminar
State Bank of Vietnam deputy governor meets with delegation from Federal Reserve Bank of San Francisco; group discusses recent seminar on monitoring and managing banks in Vietnam
HKMA’s Chan says fiscal cuts are essential for Europe
Hong Kong Monetary Authority chief executive Norman Chan says Europe must make deep fiscal cuts to regain market confidence. Talks about macro-prudential regulation, the Hong Kong dollar peg and the internationalisation of the renminbi
Italy’s Visco issues call to action for banks
Governor of the Bank of Italy says banks must not “starve” the economy of credit; explains now is the time to intensify efforts to strengthen balance sheets
Bank of Portugal paper revisits asset pricing with a bank risk factor
Bank of Portugal research paper investigates how the banking sector influences the stock returns of non-financial firms
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