Financial Stability
San Francisco's Rudebusch on future of regulation
In this Fed Review, published by the Federal Reserve Bank of San Francisco, Glenn Rudebusch, a senior vice president at the central bank, discusses recent initiatives by the Fed to promote liquidity and tackle ongoing problem in credit markets.
SARB - Financial Stability Review March 2008
Despite strong economic growth, Africa still faces a number of downside risks that could impact negatively on financial stability, the South African Reserve Bank states in its latest Financial Stability Review, published on Thursday.
BoE's Jenkinson on liquidity risk
Developments in financial markets have increased the importance and complexity of liquidity risk management over the past decade, said Nigel Jenkinson, the executive director responsible for financial stability at the Bank of England.
Papua New Guinea issues new notes for anniversary
The Bank of Papua New Guinea has introduced two new polymer banknotes to commemorate 33 years of the Kina and Toea currencies.
Research uncovers predictors of financial stress
A combination of credit and asset price variables can serve to predict financial stress, research published by the Bank of Canada finds.
Three signs of financial vulnerability
New research published by the International Monetary Fund has highlighted three factors which can exacerbate emerging and developing economies' vulnerability to financial crises.
BoE brokers MBS swap to ease tensions
The Bank of England will swap mortgage-backed securities for government bonds in a move which the Bank expects to generate £50 billion ($100 billion) worth of borrowing.
RBA oultines changes for payment system
The Reserve Bank of Australia has announced a raft of recommendations for the country's payments systems industry aimed at enhancing competition.
Old Lady could relax collateral rules
The Bank of England may swap mortgage-backed securities for government bonds to ease tensions in sterling money markets.
Former NY Fed chief to author report on crunch
Gerry Corrigan, a former head of the New York Federal Reserve now a managing director at Goldman Sachs, an investment bank, is to lead a study on the current turmoil.
Term Auction Facility has done little to help
The Term Auction Facility operation, introduced in December to temper money-market tensions, has failed to narrow interbank spreads, a research paper co-authored by John Taylor, the creator of the influential Taylor rule on monetary policy, finds.
Crisis underlines importance of liquidity
The current credit crunch has shown how essential liquidity is to both markets and institutions, Glenn Stevens, the governor of the Reserve Bank of Australia, noted.
Private sector must revive its central role
US credit markets will only begin to recover once the private sector reclaims its role in providing liquidity from the Federal Reserve, Kevin Warsh, a governor at the central bank, predicted.
Israel puts plastic notes into circulation
The Bank of Israel on Sunday introduced its first polymer banknote.
BoE on how to reduce systemic risk
The Bank of England has published a paper looking at how the structure of financial systems affects systemic risk.
Bank of Canada on housing market volatility
Better access to global financial markets exacerbates the peaks and troughs of business cycles for the housing industry, research published by the Bank of Canada shows.
Serbia's Jelasic praises SEPA
The Single Euro Payments Area (SEPA), a eurozone-wide payments initiative, is an excellent example of how technology can be used to facilitate development of the financial sector, said Radovan Jelasic, the governor of the National Bank of Serbia.
Crisis "nothing like" Great Depression: Bernanke
Ben Bernanke, the chairman of the Federal Reserve and a scholar on the Great Depression, has rebuked suggestions that the current financial climate is similar to that of the 1930s.
Canada monitoring credit conditions
The Bank of Canada is looking at the impact of the unusually wide credit spreads, prevalent in the country's money markets since the summer, on financial stability, inflation and monetary policy, said David Longworth, a deputy governor at the central…
Payments industry lacks competition
If we want to speed up the development in payment services, we need to increase competition in the market, said Erkki Liikanen, the governor of the Bank of Finland.
British banks want to borrow more
UK banks have asked for a sharp increase in their borrowing facilities at the Bank of England, the Financial Times has reported.
IMF puts subprime losses at $945 billion
Estimates of the size of losses on subprime mortgages and related forms of lending just get uglier and uglier. The latest estimate, presented by the International Monetary Fund in its Global Financial Stability Report (GFSR), puts losses at a staggering …
Politicians ask Fed to clarify Bear deal
A high-ranking American politician has issued a strongly worded request for more details about the arrangement the Federal Reserve struck with BlackRock, an asset management firm, to manage a $29 billion portfolio of assets from Bear Stearns following…
Bond spreads determined by turmoil
At the times of crisis global financial market conditions are the fundamental drivers of changes in bond spreads, research published by the International Monetary Fund finds.