Financial Stability
Eurosystem compiles cards ‘Doomsday’ book
Oversight report on major card schemes planned for release next year
BIS’s Caruana recommends capital ratios of above 10% in booms
Bank for International Settlements’ Jaime Caruana says that capital ratios for financial institutions could go above 10% in good times
British official attacks EU hedge-fund rules
Lord Myners, a UK Treasury minister, labels Brussels’ draft hedge-fund code “ill considered” and “flawed”
BIS’s Caruana calls for rule-based approach
Jaime Caruana from the Bank for International Settlements says rule-based approach is needed to address the procyclicality of the financial system
German finance minister warns ECB on liquidity overhang
Peer Steinbrück joins Angela Merkel in warning of potential inflationary impact of central bank’s extraordinary measures
Hong Kong’s markets mirror US in turbulent times
Hong Kong Monetary Authority looks at financial market interactions with the US and mainland China
CEBS publishes draft liquidity guidelines
Committee of European Banking Supervisors issues consultation paper on liquidity buffers for financial institutions
Bretton Woods institutions launch website for autumn meetings
The World Bank and the International Monetary Fund set up a site for October gathering
Ex-IMF’s Johnson queries NY Fed’s bubble-bursting claims
Former International Monetary Fund research head challenges New York Fed’s Dudley claim that central bank can burst bubbles
ECB's Tumpel-Gugerell confident of adding sterling to T2S
Tumpel-Gugerell believes Bank of England can be convinced to participate in pan-European securities-settlement platform
Brussels bids to stabilise derivatives market
European Commission outlines proposals for derivatives-market revamp
Austrian banks well capitalised
National Bank of Austria says stress tests reveal banks sufficiently capitalised to withstand severe recession
NY Fed’s Dudley: central banks must look to lean against the wind
New York Federal Reserve president backs calls for central banks to counter bubbles
Goodhart: central banks unprepared for liquidity support
Charles Goodhart, a former member of the Bank of England’s Monetary Policy Committee, says central banks have to devise common rules for liquidity support after crisis caught them out
East Asia-Pacific central banks softened US shocks
Hong Kong Monetary Authority research finds East Asia-Pacific monetary authorities dampened shock from United States money market
RBI's Subbarao: India must go for growth
The governor of the Reserve Bank of India says restoring growth to pre-crisis levels and de-mystifying the office of the governor are among his main objectives for his first term at the helm
RBI's Subbarao on reviving growth, decoupling and global imbalances
The governor of the Reserve Bank of India discusses his objectives for his first term and how the decoupling argument needs to be revised
In return to normality, fiscal order must come first
Governments must put their books in order before central bankers raise rates, say economists
BoE’s Haldane outlines views on capital rules
Bank of England''s financial stability executive director says capital levels were possibly way too low before crash
Loyalty programmes influence payments choices
Reserve Bank of Australia finds that price incentives, and loyalty programs in particular, are influential when it comes to consumer decisions about payment instruments
BoE’s Haldane: OTC markets need reforming
Bank of England’s Andy Haldane says over-the-counter post-trade infrastructure needs top-down push to reform
Central concerns
José Manuel González-Páramo, a member of the ECB’s executive board, talks to Risk about the role of the central bank and the need for greater oversight and transparency in the derivatives market
Liquidity lessons from the crisis
Daniel Heller, the head of the Basel-based CPSS, discusses propsoed reforms for payments, clearing and settlements
BIS's Cecchetti moots longer time horizon for monetary policy
Central banks may need to stretch their time horizons for inflation targeting to successfully combat financial instability, says Bank for International Settlements’ Stephen Cecchetti