Financial Stability
ECB issues Sepa "expectations"
The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Tucker: macroprudential is more than macro + micro
A macroprudential approach to financial supervision requires more than simply bringing together the central bank's macroeconomists and the regulator's line supervisors, said Paul Tucker, a deputy governor of the Bank of England.
Limits to safety net support - Richmond's Lacker
It is of paramount importance to clearly define the boundaries of future safety net support, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Europe's and Japan's fiscal actions procyclical
Discretionary fiscal policy tended to be procyclical in continental European countries and Japan, a new paper from the International Monetary Fund posits.
Cooperation between leaders and banks essential
As the world responds to financial and economic turmoil, the industry and authorities must work together as never before, says Angela Knight, the chief executive of the British Bankers' Association (BBA).
Goodfriend: Fed's fiscal statement does not go far enough
The Federal Reserve's attempt to clarify its stability role is a move in the right direction, but must be improved upon
Zhou warns against trust in external ratings
Zhou Xiaochuan, the governor of the People's Bank of China, voiced concern about the role of rating agencies in an essay posted on the central bank's website.
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
Data on home-host banking activity inadequate
Data on international banking activity remain largely inadequate for surveillance and policymaking purposes, new research from the International Monetary Fund (IMF) posits.
Basel Committee's Praet on the future of regulation
Peter Praet, an executive director at the National Bank of Belgium and a member of the Basel Committee on Banking Supervision, offers some pointers on how global leaders should formulate their regulatory response to the crisis.
European banks to drop interchange fees by 2012
The European Commission and the European Central Bank (ECB) have told European banks to get rid of interchange fees on direct debit transactions by 31 October 2012 under EU antitrust rules.
IMF to loan Romania $17.5 billion
The International Monetary Fund (IMF) has agreed a $17.5 billion loan to Romania to cushion the rapid withdrawal of capital from the eastern European economy.
Spain's Vinals to succeed Caruana at IMF
Jose Vinals, is the new director of the International Monetary Fund's (IMF) monetary and capital markets department, replacing Jaime Caruana, now general manager of the Bank for International Settlements.
Shirakawa terms measures "extremely extraordinary"
The Bank of Japan's decision earlier this month to directly provide quasi-capital funds to banks through subordinated loans was an "extremely extraordinary" measure, Masaaki Shirakawa, the governor of the central bank, has emphasised.
Fed sets boundaries for stability role
The Federal Reserve sought to clarify its role as a guardian of financial stability on Monday in an attempt to avoid taking what one regional Fed president has labelled "risky" fiscal action.
RBA's Lowe: payments providers must cooperate
There is a strong case to re-examine the balance that has been struck in the Australian payments system between competition and cooperation, said Philip Lowe, an assistant governor of country's central bank.
Buba to strengthen stability role
The Bundesbank is strengthening its role in financial stability by establishing a new department as part of a significant structural overhaul.
India's Subbarao sees key role for retail payments
Retail payments are going to be the drivers of the future payment and settlement architecture, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Geithner bailout meets with mixed reviews
The markets loved it. But economists' reaction to US Treasury secretary Tim Geithner's public-private partnership to relieve banks of their toxic assets was more critical.
Bernanke wants shadow-bank failure framework
A resolution regime for systematically-important non-bank financial entities is needed, said Ben Bernanke, the chairman of the Federal Reserve.
SARB's Mboweni advocates common sense
Financial and risk modelling should continue to play a role in future but it should be better balanced by basic business common sense, said Tito Mboweni, the governor of the South African Reserve Bank.
Globalisation accelerated IMF's reaction
The pace of the International Monetary Fund's (IMF) crisis responses has increased with the rise of financial globalisation, a new research from the Central Bank of Chile shows.
RBA's Edey: regulation determined risk taking
Financial regulation unintentionally shaped the excessive risk-taking that occurred in the run up to the credit crisis, said Malcolm Edey, the assistant governor of the Reserve Bank of Australia.