Financial Stability
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
Does the global output gap matter?
Recent studies point to the increasing importance of global economic forces for domestic inflation. But policymakers are far from convinced, writes Assistant Editor Malan Rietveld
News analysis: Gulf economies: divided we stand
Kuwait’s decision to loosen its dollar peg may herald an era of greater national economic independence in the Gulf, writes Narayan Lakshman.
Scorecard for Bulgaria’s currency board
After ten years of running under a new law, Bulgaria’s central bank can be proud of its record, writes Steve Hanke
China's first payment system development report
The People's Bank of China issued the first report on developments in the country's payment systems on Tuesday. The report reveals the progress, relevant data and the future policy orientation of the payment systems in the country.
Philippines: e-rediscouting system
In a speech made on the launch of an electronic rediscounting system, Amando Tetangco Jr, governor of the central bank of the Philippines, said that the system would expand access to credit of countryside areas in the Mindanao region.
Trichet: no complacency on sub-prime markets
In an interview Jean-Claude Trichet, president of the European Central Bank, said he remained cautious of the crisis of the sub-prime market in the United States.
Forces shaping payments markets - report
The August letter from the Chicago Fed summarises the major findings from a recent conference on changes in payments systems.
ECB calls for new debit card schemes
The European Central Bank (ECB) would like to see the emergence of new debit card schemes to rival the dominance of Maestro.
RBA's Stevens on the Asian crisis
The Asian crisis dramatically changed thinking about the nature of economic and financial crises, the policies for dealing with them, and the role of the various bodies charged with fostering economic and financial stability, explains Glenn Stevens, a…
BIS report on foreign exchange settlement risk
A new report from the BIS surveys foreign exchange settlement risk in over 100 banks and other institutions active in forex markets.