Financial Stability
Markets fear US ratings downgrade: Pimco's Gross
The co-head of the world's biggest bond fund has said that that markets are beginning to price in the threat of the United States losing its triple-A rating, which he believes will eventually go.
UK placed on negative watch on debt fears
Britain's much-cherished triple-A rating was under threat on Thursday after Standard & Poor's, one of the big three ratings agencies, placed the country on negative watch.
Greenspan: we're still on the edge
Alan Greenspan, a former chairman of the Federal Reserve, has warned that American banks need to raise a lot more capital before the financial crisis can end.
A feeble response to an unprecedented crisis
Officials have failed to deliver on their promises of a regulatory overhaul. It is a pity, writes Robert Pringle, the chairman of Central Banking Publications.
Ghana's Acquah emphasises role of social contract
To ensure the safety and security of the financial system, officials must re-commit to the tenets of the unwritten compact that are essential to maintain the confidence and trust of the public, Paul Acquah, the governor of the Bank of Ghana, has said.
A feast of books on the crisis
Robert Pringle and Hugh Sandeman review the first wave of books on the current global financial crisis
Getting systemic risk regulation right: an agenda for the US
Robert Litan says systemic regulation can be done, and sets out who should do it in the United States – and how
Interview: William White
Claire Jones speaks to William White about the lessons from history in getting out of the current crisis and the need for thinking more long term about the consequences of policymaking
Banking crises bring longer downturns
Financial turmoil characterised by banking distress is more likely to result in severe and protracted downturns than crises caused by volatility in securities or foreign exchange markets, new research from the International Monetary Fund posits.
Basel Committee's Wellink wants burden shared
Nout Wellink, the president of the Netherlands Bank and the chairman of the Basel Committee on Banking Supervision, has said that he is in favour of proposals for supranational supervision in Europe but warned that the issue of burden-sharing was crucial.
Fed aids Treasury in toxic-asset removal
To support the Treasury's plan to rid banks of toxic assets, the Federal Reserve on Tuesday said that it will take some mortgage-backed securities on to its books from July.
Our outdated global monetary regime must go
From its roots in post-war reconstruction, the current international monetary system has evolved into a regime fundamentally unsuited to the realities of today's global economy. But it cannot last, writes Ousmene Mandeng
Sub-Saharan Africa faces severe slump, IMF warns
The International Monetary Fund warned on Tuesday that economies in sub-Saharan Africa were facing a "severe downturn" and called for a strong public-policy response both domestically and internationally.
IMF's Kato: speed up governance reform
The International Monetary Fund should accelerate reform of its governance structure to better reflect global realities, said Takatoshi Kato, a deputy managing director of the Fund.
Banks back to deposit funding - Norway's Gjedrem
Deposits must again take precedence as the largest funding source for banks, said Svein Gjedrem, the governor of the Norges Bank.
BIS data show derivatives market contracting
The rapid growth of the derivatives market reversed in the wake of the collapse of now-defunct investment bank Lehman Brothers - an event which revealed the fragility of the industry - data from the Bank for International Settlements (BIS) out Tuesday…
Fed outsources in-house cheque images system
The Federal Reserve has decided to migrate its archive of cheque images to a private provider in an effort to reduce costs.
Bank concerned on clarity of stability role
The Bank of England on Monday called for more clarity on and greater powers to fulfil its financial stability mandate.
Iceland MPC member: too many men led to bad banks
A member of the Central Bank of Iceland's recently-founded Monetary Policy Committee has said that an overabundance of "male bankers high on testosterone" taking "too much risk" was one of the reasons why financial professionals behaved so badly in the…
Switzerland's Jordan: too-big-to-fail a priority
The solution of the too-big-to-fail problem is the main task for Swiss financial regulators, said Thomas Jordan, a member of the country's central bank's governing board.
Turkey's strength is its financial system: Yilmaz
The key factor enhancing the resilience of Turkish economy to the global crisis is the stability achieved in Turkey's financial system, said Durmus Yilmaz, the governor of the country's central bank.
More payment systems caused cheque decline
The decline in cheque use occurred mainly via an increase in the number of payment instruments per consumer, a new paper from the Boston Federal Reserve reveals.
Norwegian payments system passed crisis test
Norges Bank's payments system successfully handled the challenges posed by the financial crisis, the central bank said on Thursday.
Spain's Ordoez analyses pro-cyclicality
Miguel Fernandez Ordoez, the governor of the Bank of Spain, gave an outline of the effects of pro-cyclicality in the banking system, summarising first the guidance offered by Basel II to mitigate its effects.