Financial Stability
Trichet calls for fundamental financial-system change
European Central Bank president says industry needs to alter greatly in wake of crisis, says structural reforms necessary
Italy’s Visco on cross-border cooperation
In the wake of the global crisis, Bank of Italy’s Ignazio Visco examines barriers to cross-border collaboration between officials
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Bank officials at odds over QE’s impact
Confidence of Bank of England’s executive director for markets appears to conflict with deputy governor’s ambivalence
De Larosière: don’t rush regulatory reform
Former governor of the Banque de France warns governments against rapid change for the finance industry
What makes up the macroprudential toolkit?
Practitioners and supervisors discuss how supervisory policy will be made
Public banks good for growth
Central Bank of Cyprus finds that government ownership of banks has been associated with better long-run growth performance
Turkey’s Yilmaz: Islamic finance a force for stability
Central Bank of Turkey’s Durmus Yilmaz says Islamic finance is not boom-bust driven
New Zealand begins exit from extraordinary measures
Reserve Bank of New Zealand cancels two facilities and amends others as financial-market stress eases
Swaps a success: SNB economists
Swiss National Bank researchers say swap agreements were highly effective low-cost solution to currency mismatches
Finland’s Liikanen pushes for Fund reform
Bank of Finaland’s Erkki Liikanen says quota reform only starting point for change at the International Monetary Fund
No way to tell if QE’s worked: BoE’s Bean
MPC will have to tighten gradually to avoid undershooting inflation target
Ireland’s Honohan: restore, not reinvent
Governor uses first speech to hark back to 2000 as benchmark for Irish economy
“Green shoots” of recovery must be handled gently
Durmus Yilmaz, governor of the Central Bank of Turkey, argues for a careful balance between fighting recession and expanding public debt
Lamfalussy godfather of BIS’s macroprudence
National Bank of Belgium paper shows Alexandre Lamfalussy as the originator of the macroprudential approach to stability
Spain must step carefully on the road to recovery
Bank of Spain’s Miguel Fernandez Ordonez says domestic economy and financial sector face challenges ahead
Dutch central bank takes over floundering DSB
The Netherlands Bank takes control of teetering domestic lender Dirk Scheringa Beheer after consortium talks fail; says it will guarantee deposits
Securitisation not to blame for the crisis: Fed’s Tarullo
Federal Reserve’s Daniel Tarullo also reiterates calls for an oversight council
Monitoring can prevent crisis
International Monetary Fund looks at role of uncertainty in contagion during a financial crisis
Fed’s Lacker: economics key for financial education
Richmond Federal Reserve’s Jeffrey Lacker says financial education programs should include economics
Network analysis key to understanding crisis: ECB’s Tumpel-Gugerell
Gertrude Tumpel-Gugerell, ECB executive board member, emphasises the magnitude of contagion in the financial system
IMF disputes reserves’ role in shoring up stability
International Monetary Fund says large reserves stockpile didn’t help weather the crisis
Islamic finance inherently robust: Malaysia’s Zeti
Malaysia’s central bank governor says fundamental Islamic principles set out a resilient strategy for risk management
Estonia to meet eurozone inflation target by end of 09
Baltic state “eager and willing” to fulfil Maastricht criteria, says central bank economist