Financial Stability
Chinese government hampering financial industry, World Bank warns
New World Bank report sees flaws in China's regulatory system
UK’s Prudential Regulation Authority reveals approach to consultation
Bank of England and Financial Services Authority publish response to government’s request for details on how the Prudential Regulation Authority will consult with firms
IMF working paper formulates new forecasting framework
New IMF research looks into systemic real and financial risks; focuses on the measurement of them, predicting them and stress testing
Governor of Bangladesh Bank discusses working population ratio
Atiur Rahman says Bangladesh must prepare for when the large working population becomes elderly
Bank of Canada research delves into monetary policy
Bank of Canada releases research paper which examines the interaction between monetary policy and macro-prudential policy
ECB rejects Greek bonds in reaction to rating cut
European Central Bank temporarily stops accepting Greek debt as collateral; move comes one day after rating agency drops country to a selective default rating
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold
Fed’s Plosser warns of blurring institutional boundaries
President of the Philadelphia Fed warns of hazards when central banks get involved in fiscal policy
Praet discusses lessons from the crisis
ECB executive board member says speed at which imbalances result in systemic risks is a major lesson to learn; talks of emerging new Europe
Buba’s Weidmann defends German role in eurozone rescues
President of the Deutsche Bundesbank says criticising German authorities for their action, or lack of it, in helping struggling eurozone counterparts is “quite inappropriate”
Korea braces for higher oil prices
Bank of Korea governor holds economic review with leading academics and others; group discusses rising oil prices
Central Bank of Hungary governor offers to give up salary
Andras Simor attempts to ease conflict with government; desperate for the country not to lose ability to negotiate with International Monetary Fund over emergency funding
Lagarde stresses importance of firewalls
Managing director of IMF says she is “encouraged” by G-20 commitment to strengthening firewalls to limit spread of economic damage
IMF approves conditional distribution of gold profits
International Monetary Fund agrees to distribute $1.1 billion of profits from gold sales; member countries must first pledge contributions to Poverty Reduction and Growth Trust
IMF paper studies Indian growth spillovers to south Asia
Results of a panel growth regression suggests India’s growth has impacted region since 1995
Philadelphia Fed launches consumer credit and payments web pages
Research and statistics on consumer credit and payments now displayed on separate web page; includes searchable publications library and access to podcasts
Lithuania continues restructure of operations
Bank of Lithuania continues “optimising” operations; will concentrate key functions within specialised services and close a vault
Bank of Canada studies household finances and financial stability
Bank of Canada Review for winter 2011-12 examines recent research into rise in household debt and upward trend in house prices
Central Bank of Chile working paper deals with pricing norms
Chilean research relaxes standard assumption in macroeconomics that pricing decisions are taken by single-product firms
IMF paper looks at coincident indicators of capital flows
International Monetary Fund research paper finds methods of tracking capital flows often result in over-predictions
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