Financial Stability
Why King lacks allies
Just when Mervyn King, the governor of the Bank of England, was hoping for a respite from the battering he has received from the Treasury Select Committee and others over his handling of the Northern Rock debacle, along comes a heavyweight in the shape…
Alan Greenspan on volatile markets
Interviewed on the BBC's Today programme on 28 September, Alan Greenspan waxed philosophical about the changing nature of financial markets and their relationship to the real economy.
UK business chief singles out King
Richard Lambert, a former member of the monetary policy committee who now heads the Confederation of British Industry (CBI), dismissed Mervyn King's blaming of the Northern Rock crisis on regulatory complexity as unsatisfactory.
Injections were the right response - OECD chief
Central banks were correct to inject liquidity into the banking system in order to deal with the turmoil in global money markets, said Angel Gurria, the secretary general of the Organisation for Economic Cooperation and Development.
Research finds East Asian ratings discrepancy
A significant discrepancy exists between agency ratings and market-based default risk measures for East Asian banks, according to a paper published by the Hong Kong Monetary Authority on Tuesday.
Politicians want more power to veto Bank
An enquiry into the crisis at Northern Rock by Treasury ministers is expected to result in calls for their colleague, the chancellor of the exchequer, to be able to overrule the Bank of England and the Financial Services Authority (FSA).
EU re-designs euro coin to exclude Turkey
The new design of the euro coin - set to be introduced next year in Slovenia, Malta and Cyprus - will not feature Turkey despite its inclusion in the original plans.
Currency reform set for delays - Nigeria's Soludo
Charles Soludo, the governor of the Central Bank of Nigeria, said reforms of its naira currency, set out in mid-August, are on hold until the central bank meets with the government.
Argentina is "riding the storm": Redrado
Martin Redrado, the governor of the Central Bank of Argentina, said his country has dealt with the recent global market turmoil because of better macroeconomic management.
Subprime was trigger not cause: Fed's Warsh
Kevin Warsh, a governor of the Federal Reserve, said on Friday that the subprime crisis sparked, rather than produced, the recent bout of money-market turmoil.
Some grim reading for bankers
A paper published by the European Central Bank has found the interdependence of lending decisions by national subsidiaries of global banks can lead to contagion.
Mini-crises stretch ahead: UK economist
Instead of a sharp but swift adjustment, the prospect now is for a series of mini-crises stretching for years ahead, says the City economist Stephen Lewis in his commentary on the latest developments in the UK banking crisis.
Liquidity and the lender of last resort
A Banque de France research paper has found that a relatively small liquidity shock can disrupt markets, which means the probability of default for leveraged investors is higher than standard risk measures suggest.
Fed unveils new $5 bill
The Federal Reserve, the American central bank, today unveiled a new, more secure design for the $5 banknote that will be issued and enter circulation in early 2008. A new $100 bill will follow.
Australia's Payment Systems Board report - 2007
Australia's Payment Systems Board, which is chaired by the central bank governor, published its annual report for 2007 on Wednesday.
Nyberg on monetary and financial stability
The interaction of monetary and financial stability is one of the most discussed issues in central banks and academia today, and is likely to remain high on the agenda for the foreseeable future, said Lars Nyberg, a deputy governor at Sweden's central…
Bank funding: gone in 15 seconds?
Bank runs, once triggered, are set to become much quicker and less controllable in future.
Bank of England fights to restore financial order
The Bank of England has today lent £4.4bn ($8.8bn) of "exceptional" funds at its benchmark interest rate of 5.75% and says that it will offer the same amount on September 20 in seven-day debt.
Central banks are "just doing their job": Noyer
Christian Noyer, the governor of the Bank of France and a member of the governing council of the European Central Bank (ECB), made a strong defence of recent actions by central banks.
RBA's Stevens on Australia and financial markets
Recent events are putting financial systems to the test around the world, observed the governor of the Reserve Bnak of Australia at a speech in Sydney on Tuesday.
Bank of England bails out Northern Rock
The governor of the Bank of England, Mervyn King, is coming under increasing criticism over his handling of the crisis.
Bank funding for buyer of Northern Rock?
The Bank of England's emergency facility to Northern Rock will still be available to any buyer of the ailing bank, it was confirmed today.
Overnight UK rates jump
On Monday, overnight sterling lending rates briefly hit levels not seen in over six years,reported Reuters, as the deepening crisis surrounding Northern Rock sparked a scramble among banks for immediate access to cash.
EU central bankers decide against bail-out rules
Finance ministers and central bankers from the European Union decided at a weekend meeting in Portugal not to draw up fixed rules in advance on bailing out banks and other financial institutions with cross-border operations in the EU.