Central Banks
Preventing system failure
A model borrowed from ecology offers new insights for policymakers in how to understand and combat systemic risk, writes Claire Jones.
Interview: Andrew Haldane
The executive director for financial stability at the Bank of England talks to Robert Pringle about lessons from the crisis, the macroprudential toolkit, links between monetary policy and financial stability, and whether the banking industry needs to be…
Interview: Gill Marcus
The governor of the South African Reserve Bank talks to Ramya Jaidev about some of the challenges central bankers are facing both in South Africa and around the world.
Interview: Charles Plosser
The president of the Federal Reserve Bank of Philadelphia talks to Claire Jones about financial reform, how monetary policymaking needs to change and the dangers of assuming central bankers can remedy all economic ills.
NY Fed: emergency dollar swap lines a success
New York Federal Reserve study says dollar swap facilities provided effective source of funding to banks during financial crisis
Indian inflation back in single digits on back of Reserve Bank hikes
Official data on wholesale price index show inflation fell to 9.97% last month
Spanish bank borrowing from ECB continues to balloon
Spanish banks continue to depend on European Central Bank after stress tests exposed capital shortfalls
BIS’s Borio on the paradox of financial instability
Bank for International Settlements’ Claudio Borio warns that system appears strongest when it’s most vulnerable
Fed’s Hoenig: we risk repeating past mistakes
Federal Open Market Committee dissenter warns that US economy requires prolonged period of rebalancing that low rates alone cannot tackle
Bank of Japan – rate minutes (July 2010)
Monetary Policy Council all back rate hike; overcoming inflation “top priority task”
India’s Gokarn terms inflation a “legitimate concern”
Reserve Bank of India deputy governor Subir Gokarn says supply side price pressures cannot be controlled through standard monetary policy measures
Denmark’s Bernstein explains new investment income estimation method
National Bank of Denmark governor Nils Bernstein says new method will enhance analysis of balance of payment movements
IMF: financial stress distorts losses in defaults
IMF study says probability of default measures do not fully account for potential losses
‘Bail-in’ rather than bailout, says European markets group
Association for Financial Markets in Europe proposes regulator-enforced version of contingent capital to replace state-funded bailouts; proposals still troublesome, Goodhart says
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
Reserves growth does not boost lending: Fed study
Federal Reserve study says notion that money multiplier can improve bank lending is misguided
SNB posts smaller-than-forecast loss
Swiss National Bank’s first half loss $949m smaller than expected as gold and UBS bailout vehicle put in strong performances; reverses end-2009 purchase of UBS shares to guard against loss
Norway’s wealth fund slumps to first loss in a year
Government Pension Fund–Global posts $25 billion loss for first quarter; fund’s equity portfolio takes a beating, led by BP shares
Rate round-up: Chile ignores global tensions and hikes rates
Chile raises rates despite uncertainty in global recovery; Norway and South Korea hold; Ukraine cuts