Central Banks
SNB's Hildebrand and Italy's Saccomanni on crisis
The crisis has shown central bankers and regulators rightly predicted that highly-leveraged institutions presented a threat to stability. But officials' attentions were directed at the wrong type of institution, admitted Philipp Hildebrand, a governor of…
Fed offers more support to world's biggest insurer
The Federal Reserve has loaned American International Group (AIG), the world's biggest insurer, an additional $37.8 billion, taking the size of beleaguered company's borrowing facility with the central bank up to $122.8 billion.
Bernanke on economic and financial conditions
Ben Bernanke, the chairman for the Federal Reserve, set out the reasoning behind policies towards Fannie Mae and Freddie Mac, Lehman Brothers, AIG as well as the Treasury bailout in a speech to the National Association for Business Economics.
FOMC September minutes: balancing risks
Both downside risks to growth and upside risks to inflation were a significant concern to the Federal Open Market Committee (FOMC), the minutes from the 16 September meeting reported.
Global central banks cut as system teeters
Six central banks have taken the unprecedented step of cutting rates by half a point in unison in an attempt to avert a global financial-market meltdown.
Britain bails out banks
The British authorities on Wednesday pledged to spend up to £50 billion ($86 billion) in taxpayer funds to recapitalise its beleaguered banking industry, shares in which have plummeted in recent days.
Spain sets up €50 billion rescue fund
Madrid on Tuesday said it would establish a rescue fund to buy high-quality assets from its banking industry, hampered by a downturn in the country's housing market and the global turmoil.
Riksbank pumps Skr5 billion into Icelandic bank
The Riksbank on Wednesday agreed to prop up Kaupthing, Iceland's largest lender, with a Skr5 billion ($700m) loan, on fears the bank's liquidity problems threatened the stability of the Swedish financial system.
HKMA cuts discount rate by full percentage point
The Hong Kong Monetary Authority (HKMA) on Wednesday cut the rate at which it lends to banks through its discount window by 100 basis points.
Without proper incentives we are doomed
The financial system cannot survive in anything like its present form if bankers continue to make profits and taxpayers assume the losses. Yet that is the trend, certainly in the United States with its ill-advised Paulson bailout, and increasingly in…
IMF's Lipsky: regulatory change needed
All systemic US financial intermediaries should be put under one single regulator, said John Lipsky, the first deputy managing director of the International Monetary Fund.
IMF wants global action, warns of risk of meltdown
The International Monetary Fund (IMF) has urged policymakers around the world to step up efforts to tackle the rapid deterioration of the global financial system.
Fed to accept commercial paper for funds
The Federal Reserve on Tuesday adopted a new strategy to placate financial market tensions, saying that it would swap funds for unsecured commercial paper direct from the issuer.
Central banks pledge more dollars
Central banks around the world unveiled a fresh round of dollar auctions on Tuesday, aimed at tiding the banking system over the year-end period when money-market tensions tend to heighten.
Iceland nationalises second-largest bank
The crisis in the Icelandic financial system deepened on Tuesday as the authorities took control of Landsbanki, the country's second-largest lender, and pegged the ailing krona to the euro.
Australia slashes rates by 100 basis points
The Reserve Bank of Australia shocked markets on Tuesday, opting to cut its key rate by a full percentage point to 6%, the steepest margin since 1992.
High commodity prices and the Canadian dollar
A new paper from the Bank of Canada examines the impact of the recent surge in energy and non-energy commodity prices on the loonie.
China's impact on global inflation
Research from the Bank of Canada examines the effect of China on the inflation rate in other countries.
Global stock markets plunge on banking fears
The Dow Jones average of shares listed in New York sank below 10,000 for the first time since 2004 as equities markets around the world plunged on signs that troubles in the global banking system had further intensified over the weekend.
Iceland suspends bank shares, offers guarantee
Iceland has halted trading on stocks in its beleaguered banks and guaranteed all customer deposits in a bid to stop a raft of selling on signs the country's banking system is near to collapse.
Fed to offer further funds, pay interest
The Federal Reserve on Monday announced further measures to shore up ailing money markets, pledging to inject $600 billion in longer-term funds.
Denmark, Germany step up deposit guarantees
The Danish and German authorities have become the latest countries to raise their deposit guarantees to prop up their battered banking sectors.
Old Lady bows to markets, expands collateral pool
The paralysis in money markets has forced the Bank of England to accept poorer quality collateral, underlining the extent to which interbank conditions have worsened in recent weeks.
Ireland's Hurley justifies 100% guarantee
John Hurley, the governor of the Central Bank and Financial Services Authority of Ireland, has defended Dublin's pledge to guarantee all deposits in its six biggest lenders.