Central Banks
Europe should learn from US mistakes
Former chairman of the Federal Deposit Insurance Company William Isaac warns Europe to heed the lessons from TARP and catastrophic public stress tests
Fed should have adopted BoE's QE strategy, says Blanchflower
Former Bank of England Monetary Policy Committee member David Blanchflower says Fed should look to London as guide to twist yield curve after FOMC minutes reveal policy split
Tail events resemble platypus moment, rather than black swan: RBA’s Ellis
Reserve Bank of Australia head of financial stability, Luci Ellis, says financial supervisors should be alert to rent-seeking behaviour in order to identify looming threats
Systemic capital requirements are often underestimated: BoE paper
Bank of England study examines level of potential losses on bank balance sheets in event of systemic crises
BIS paper highlights growing risk of currency crises
Bank for International Settlements paper authored by Professor Robert Aliber outlines role of cross-border money flows in a currency crisis
Priorities shift for reserve managers
Central bank reserve managers discuss focusing on safety of investments after the financial crisis; see uncertain future for global financial system
Risk.net poll: CCPs should have access to central bank liquidity
The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers
Turkey deputy governor evaluates success of policy moves
Turalay Kenç says decision to act on credit growth in Turkey was necessary; widening the interest rate corridor was a 'successful exercise'
Australian regulator appointed secretary-general to Basel Committee
Basel Committee names executive general manager of Australian Prudential Regulation Authority Wayne Byres to replace Stefan Walter as secretary-general
Barroso spells out eurozone recovery plan
European Commission president José Manuel Barroso outlines roadmap to eurozone stability in last ditch effort to end the sovereign debt crisis
Euro area economic governance reform package inadequate: ECB’s Stark
European Central Bank executive board member Jürgen Stark says euro area economic governance reform package falls short of quantum leap
RBA’s Debelle highlights risks attached to high-frequency trading
Reserve Bank of Australia assistant governor Guy Debelle says prime brokers may not be monitoring high-frequency trading risks properly
RBI paper denies large gold purchase drove up market prices
Reserve Bank of India study says 200-tonne purchase of gold from IMF did not have sizable impact on gold price trend
FSB warns members not to misinterpret G-20 commitments
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Hansson pips Sutt to Estonia governor seat
World Bank economics chief Ardo Hansson narrowly beats rival Andres Sutt in race to become Bank of Estonia governor
BoE’s Miles explains resumption of QE
Bank of England external Monetary Policy Committee member David Miles says reemergence of financial market stress and lower-than-expected inflationary pressures prompted further asset purchases
ECB paper reviews euro area credit card interchange fees
European Central Bank study calls for fresh look at credit card interchange fees in euro area
RBI paper measures optimum inflation threshold
Reserve Bank of India study makes case for adoption of lower inflation target than current threshold level
Video: Banks can arbitrage central bank liquidity provision
A conflict between new liquidity regulations under Basel III and existing central bank operations leaves a gap that banks may be able to exploit, warns financial stability expert
Ex-UK chancellor calls for disbandment of Bank's Court
UK former chancellor of the exchequer Alistair Darling launches scathing attack on Bank of England's governance framework; says the Bank's Court should be broken up
ESRB publishes foreign currency lending recommendations
European Systemic Risk Board releases recommendations on lending in foreign currencies; new measures addressed to member states, national supervisory authorities and European Banking Authority
Kuwait and China agree on deeper cooperation
Kuwaiti finance minister holds talks with Chinese representatives of central bank and sovereign wealth fund; agree on heightened cooperation
Dexia bailout spells trouble for Belgium and France, say analysts
Nationalisation of banking group Dexia threatens downgrades to sovereign credit rating of Belgian and French governments
IMF paper identifies source of inflation in Cemac nations
Fund study says inflation in Central African Economic and Monetary Community countries largely driven by global food and fuel prices