Financial Stability
Remittances suffer in the wake of turmoil
Remittance flows to developing countries slowed in the third quarter of 2008 and are expected to slow further in 2009 due to the global financial crisis, a new report from the World Bank finds.
Israel's Banking System - Annual Survey 2007
In 2007, the net income of Israel's five major banking groups rose, despite losses on asset-backed securities, and capital-adequacy ratios reached a record-high of 11% by the end of the year, the Bank of Israel's annual survey of its domestic banking…
Washington restructures loan to save battered AIG
The Treasury is to take a $40 billion stake in American International Group (AIG), once the biggest insurance company in the world, as part of a restructuring of the firm's $122.8 billion Federal Reserve loan.
DSK calls on G20 to bolster IMF coffers
Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), has urged G20 leaders to discuss ways to boost the Fund's resources at this weekend's summit.
Integration and openness vital: Italy's Draghi
Confronting the challenges posed by the current crisis requires greater integration and market openness, said Mario Draghi, the governor of the Bank of Italy.
Eurozone banks clamp down on gloomy outlook
Eurozone banks are applying ever more-stringent conditions on the region's borrowers on fears of a worsening of economic activity.
Real and financial sector linked - Fed's Warsh
The US economy will recover sooner than expected if banks are willing to find new ways of lending, said Kevin Warsh, a governor at the Federal Reserve.
Dollar Libor spreads plummet to pre-Lehman levels
Money-market tensions showed further signs of easing on Wednesday, with the London Interbank Offered Rate (Libor) for three-month dollar loans plunging 20 basis points to 2.51%.
Policymakers added to volatility: Fed's Lacker
Shifts in expectations regarding the chances of official intervention may have made financial markets more volatile, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Bernanke: we must support mortgage securitisation
The government has a role in supporting mortgage securitisation during periods of high financial stress, said Ben Bernanke, the chairman of the Federal Reserve.
Czech currency protects economy - CNB's Singer
The Czech koruna cossets the economy from financial turmoil elsewhere, said Miroslav Singer, a vice governor of the Czech National Bank.
IMF: crisis calls for new statistics
Understanding the crisis may require out-of-the-box thinking on data, said Adelheid Burgi-Schmelz, the new director of the International Monetary Fund's (IMF) statistics department.
Turkey's Yilmaz: FX liquidity support in place
The central bank put into effect measures to support foreign exchange liquidity in the domestic banking system, said Durmus Yilmaz, the governor of the Central Bank of the Republic of Turkey.
US: debit cards and electronic payments rising
Electronic methods of cheque clearing are rapidly replacing traditional paper methods, reports a new paper from the Federal Reserve Board.
Norges's Qvigstad - central banks are changing
Liquidity policy is now at the forefront of the monetary policy scene, said Jan Qvigstad, the deputy governor of the Norges Bank.
Banks' social role key to new rules: ex-FSA head
The revision of the social contract between banks and government should be central to the debate about how to legislate against future crises, Britain's former chief regulator has said.
Interbank rates improve
Beyond the gyrations of the stock markets, there were continued signs that conditions in the interbank markets were on the mend.
Fed hikes cheque processing costs by 41%
In a bid to encourage the move to electronic processing of cheques, the Federal Reserve will increase its charges for the processing of paper by 41% in 2009.
IMF relaxes lending conditions for quick fixes
The International Monetary Fund (IMF) has offered to provide no-strings-attached loans in days to select countries facing liquidity problems.
Fed extends swaps to emerging markets, cuts to 1%
The Brazilian, Mexican, Korean and Singapore central banks on Wednesday became the latest to set up swap arrangements with the Federal Reserve to counter dollar liquidity fears.
Riksbank to lend to corporates
The Riksbank on Wednesday agreed to extend access to its funds beyond the banking sector to large corporates struggling to borrow in the wake of the global market turmoil.
IMF, EU, World Bank to loan Hungary $25bn
The International Monetary Fund (IMF), the European Union (EU) and the World Bank will lend Hungary $25.1 billion in an attempt to avert a financial meltdown.
New Zealand sets up $15bn swap line with Fed
The Reserve Bank of New Zealand on Wednesday became the latest institution to arrange a swap line with the Federal Reserve to counter continuing tensions in dollar funding markets.
IMF kitty may prove insufficient: British PM
The International Monetary Fund (IMF) may have insufficient resources to fight the global credit crisis, Gordon Brown, the British prime minister, warned on Tuesday, saying that a new funding arrangement drawing on countries with substantial reserves was…