Financial Stability
SARB Financial Stability Review, March 2006
The South African Reserve Bank published the March 2006 edition of its Financial Stability Review on 3 May. In its latest report the SARB said the global economy continued to expand strongly during the second half of 2005, albeit at a slightly more…
A strong case for regional monetary cooperation
Charles Wyplosz looks at how policy at the regional level can underpin efforts to unwind global imbalances.
East Asia’s policy dilemmas
Regional cooperation on exchange rates would suit East Asia, but poor relations between China and Japan mean it is unlikely, argues Yung Chul Park
Challenging the Washington Consensus
Blaming the other side is not the way for the major economic players to tackle global imbalances, says Richard Portes.
The difficult choice of an inflation target
Although “headline” measures of inflation are more volatile than “core” measures, central banks are increasingly adopting them as targets. Stall writer Malan Rietveld finds out why.
How to manage the 21st-century central bank
John Mendzela sets out the management practices central banks need to succeed in the future, and how to change successfully.
Fukui prepares to raise rates
Raising rates in Japan’s unbalanced economy will test Governor Fukui’s skills to the limit, says Andrew Smithers. But he is on the right track so far.
Dates slide for euro hopefuls
Assistant editor Nick Carver surveys the progress – or in some cases the lack of it – of the ten countries that joined the EU in 2004.
Weber reveals his monetary policy stance
Axel Weber set out his thinking on the role of monetary policy and interest rates in three speeches in March. Stephen Frowen and Elias Karakitsos report.
Government debt gears up for change
Paul Brione charts the rise in profile, professionalism and autonomy of government debt offices.
On the record: Lawrence Summers
Lawrence Summers offers his reflections on global account imbalances and reserve accumulation in emerging markets.
Sweden's Ingves on cash management
In the speech 'Cash management - an important social issue' given on 26 April Stefan Ingves of the Sveriges Riksbank said one of the Riksbank's tasks is to promote a safe and efficient payment system.
Nacha honours Fed vice chairman Roger Ferguson
The Electronic Payments Association will present its 2006 George Mitchell Payments System Excellence Award to Roger Ferguson, Vice Chairman of the Federal Reserve, who is completing his service to the Federal Reserve and the U.S. payments system on 28…
How/why do consumers choose their payment methods?
In this Kansas City Fed RWP Stacey Schreft takes a detailed look at the state of research on this subject, where research needs to go, and why such research is important for monetary policymakers and banking regulators.
SARB launch Vision 2010 for payment system
The South African Reserve Bank (SARB) on Thursday 20 April launched a document containing strategic guidelines for the national payment system.
Mario Draghi to succeed Roger Ferguson at FSF
Following consultations within the Financial Stability Forum's (FSF) membership, the G7 Finance Ministers and central bank Governors on Monday 24 April confirmed their support for the designation of Mario Draghi as Chairman of the FSF.
Fed's Ferguson warns over shock potential
U.S. Federal Reserve Vice Chairman Roger Ferguson on Saturday 22 April cautioned that the tranquillity of financial markets in recent years does not mean that they were not vulnerable to more severe shocks.
Fed to consolidate payments system committees
The Federal Reserve Board announced on Wednesday 19 April the consolidation of two internal advisory committees on payments system matters.
Ferguson on financial stability & central banking
In the speech 'Thoughts on financial stability and central banking' given on 17 April Roger Ferguson of the Federal Reserve said asset price volatility may have increased in recent years as real economic shocks have moderated, but central banks should…
IMF Global Financial Stability Report, April 2006
The International Monetary Fund published its Global Financial Stability Report for April 2006 on 11 April. World financial markets have strengthened but cyclical challenges are emerging from the prospect of higher interest rates and an unwinding of…
Comment: The IMF's Global FSR
The IMF yesterday unveiled its latest Global Financial Stability Report at the Bank of England head office in London. "The near-term outlook is as good as it gets," Gerd Hausler, director of the IMF's capital markets unit, said at the press conference.
Chicago's Moskow on central counterparty clearing
In the speech 'Public policy and central counterparty clearing' given on 4 April Michael Moskow of the Federal Reserve Bank of Chicago said new clearing arrangements are emerging all the time.
Fed's Kroszner on central counterparty clearing
In the speech 'Central counterparty clearing: History, innovation, and regulation' given on 3 April Randall Kroszner of the Federal Reserve said in recent years, public policymakers have demonstrated growing interest and concern about the effectiveness…