Central Banks
Ireland to spend €77 billion on bad banks
Ireland’s finance minister Brian Lenihan says funds will be split between five institutions
Bank of England survey shows drop in overall satisfaction
Inflation Attitudes Survey also shows gap between public perception and real rates
Belgium and euro area will not face deflation
Policymakers’ swift adoption of expansionary policies will prevent Belgian and Euro area economies from spiralling deep into deflation, argues the National Bank of Belgium
Fed’s Hoenig outlines resolution schema for too-big-to-fail
Kansas City Federal Reserve’s Thomas Hoenig and two economists prepare legal process for failure
Fiscal measures must be taken off central banks’ books: IMF
International Monetary Fund’s executive board wants all quasi-fiscal activity to be moved onto government balance sheets
Finland names head of transition unit
The Bank of Finland Institute for Economies in Transition gets a new chief
The real effects of financial risk
Research estimates the magnitude of key effects on the real economy from financial sector stress
King cautious on recovery
Bank of England’s Mervyn King warns return to trend growth will be slow and protracted, much to be done on regulation
Fed names new regional chairs
Washington-based board announces heads of twelve Federal Reserve banks for 2010
Libor spread sinks to pre-crisis levels
Libor-OIS spread for three-month dollar loans retreats to its summer 2007 level as confidence continues to grow
Iceland names new chief economist
Thórarinn Pétursson to head economics division at the Central Bank of Iceland
Bahrain trims rates
Central Bank of Bahrain cuts rates for first time since December, offers month-long dollar loans
Obstfeld on global monetary reform
Berkeley economist says International Monetary Fund may be right organisation to act as a global lender of last resort
How competition influences bank failures
Bank of Finland uses evidence from Russia to investigate link between competition and failure
Monetary policy and the Jordanian central bank
Research charts the impact of central bank independence on policy
No, the markets are not in state of hysteria about US inflation
Brendan Brown, the chief economist at Mitsubishi UFJ, asks if fears of prices exploding in the US are as irrational as some suggest
Palestine launches hybrid payments system
Palestine Monetary Authority’s new interbank payments system described as development towards statehood
Bank’s Haldane stresses limits of regulation
Rules alone will not be enough to restore trust and spur a full recovery says Bank of England’s executive director for financial stability
Foreign lenders pledge support to Latvia
Four biggest foreign-owned banks in Baltic state agree to prop up branches and subsidiaries
Russia cuts for sixth time in five months
Bank of Russia lowers policy rate by 25 basis points in fresh effort to stimulate bank lending
European Central Bank - Monthly Bulletin September
European Central Bank’s Monthly Bulletin notes money and credit expansion continues to decelerate
Uribe: restricted FX exposure helped Colombia
Central Bank of Colombia’s José Dario Uribe says the limited exposure of the country’s corporate sector to currency risk sheltered it from Lehman’s collapse
Central bankers must understand financial engineering
Harvard Business School’s Robert Merton says senior management and regulators need a good knowledge of financial engineering
Fed economist says 2% too low for inflation
San Francisco Federal Reserve’s John Williams says 2% inflation “insufficiently high” to protect economy