Financial Stability
Swiss chairman criticises US subprime
Jean-Pierre Roth, the chairman of the Swiss National Bank described the US subprime crisis as "unbelievable" and said that reality was "striking back"
Australia investigates resilience
The Reserve Bank of Australia has published a series of draft papers presented at its conference on the structure and resilience of the financial system, which took place on 20 and 21 August.
ECB publishes "Blue Book"
The 2007 edition of the Blue Book, which describes the main payment and securities settlement systems in the EU, comes in two volumes: one on countries in the euro area, the other for non-euro area countries.
Nigeria's strategy for the new naira
Charles Soludo, the governor of the Central bank of Nigeria, sets out plans for the currency redenomination.
Market optimism fades after Fed action
After the rally in US equity market of Friday continued in Asian and European markets after the weekend, Wall Street indexes were firmly back in the red by mid-day on Monday.
Japan injects 1.2 trillion as Nikkei falls 5.4%
The Bank of Japan lent 1.2 trillion ($10.5 billion) to the markets Friday after draining 2 trillion Wednesday. The central bank's injection was made as market concerns over liquidity took the overnight lending rate above the central bank's 0.5% target.
Canada extends collateral list to aid market
In a move to shore up liquidity, the Bank of Canada said Wednesday that it will expand the list of collateral eligible for use in special purchase and resale agreements.
RBNZ comments on liquidity provisions
Grant Spencer, the acting governor of the Reserve Bank of New Zealand, says the central bank would act if market conditions worsened, saying that the bank "stands ready to provide additional liquidity" if required.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Recent events indicate Argentine stability
Martin Redrado, the governor of the Central Bank of Argentina, said that recent market volatility showed the strength of the country's monetary and financial policy.
Trichet claims markets close to normal
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that the current "period of market nervousness" is coming to an end.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
Japan injects 1.6 trillion into money markets
The Bank of Japan injected 1 trillion ($8.4 billion) into the money markets Friday and 600 billion Monday in an effort to counter shockwaves triggered by the US subprime crisis.
Central banks' use of websites in the crisis
Central banks have been using their websites in novel ways during the crisis. On 13 August, the New York Fed put the following notice up:"The Desk will evaluate whether it needs to inject additional cash into the banking system at its normal operating…
Statements on liquidity injections
The Federal Reserve Bank of New York released a brief statement regarding its intervention to inject liquidity into the markets. It said it is providing liquidity to facilitate the "orderly functioning of financial markets" and will provide reserves as…
ECB intervenes in money markets
The European Central Bank (ECB) injected tens of billions into the money markets on Thursday amid growing concerns over illiquidity.
Recent developments in US subprime
The International Monetary Fund has published a working paper called "Money for Nothing and Checks for Free: Recent Developments in US Subprime Mortgage Markets."
Slovenia's Kranjec: subprime may hurt EU
Marko Kranjec, the governor of the Bank of Slovenia, has said the US subprime mortgage crisis could affect eurozone consumer demand. His comments appear to contradict those of other members of the European Central Bank's (ECB) governing board.
IMF board backs global imbalances plan
The board of the International Monetary Fund (IMF) has backed a plan for conducting multilateral surveillance aimed at reducing global imbalances.
New Zealand breaks with the Brash era
Going for growth will come back to haunt the Reserve Bank and its governor, writes Rodney Dickens
A crisis of identity
The loss of its managing director could not have come at a worse time for an IMF looking to remodel itself. Klaus Engelen reports
How to manage system risks
Many central banks can forget best-of-breed solutions for IT systems. Terry Beadle offers some realistic proposals