Central Banks
Paulson plan is critical: Canada's Carney
Mark Carney, the governor of the Bank of Canada, has warned that the plan put forward by the US treasury secretary Hank Paulson to buy up to $700 billion in distressed assets is "critically important".
Fed's Fisher still warning on inflation
Richard Fisher, the president of the Dallas Federal Reserve who is considered the Federal Open Market Committee's (FOMC) most hawkish member, has signalled that he would still not back a rate cut.
Issues for central banks' collateral frameworks
Research from the International Monetary Fund highlights four issues for central banks' collateral frameworks.
US was prone to housing meltdown
The housing meltdown happened in the US, in part, because of its tax, legal and regulatory systems, research published by the Bank for International Settlements finds.
Ex-FSA's McCarthy wants more realism on risk
Financial institutions need greater realism and modesty about their risk management capability, said Callum McCarthy, a former chairman of the Financial Services Authority (FSA).
RBA justifies September rate cut
A slowdown in demand allowed for a cut in the cash rate by 25 basis points to 7%, according to minutes from the September board meeting of the Reserve Bank of Australia.
IMF ups crisis loss estimate to $1.3 trillion
The International Monetary Fund (IMF) now expects the US credit crisis to cost the global financial system $1.3 trillion.
Saudi soothes markets as Gulf liquidity woes mount
The Saudi Arabian Monetary Agency on Thursday became the third central bank in the Gulf this week to counter money-market fears of a liquidity shortage.
Taiwan surprises markets with first cut in 5 years
The Central Bank of China (Taiwan) unexpectedly cut rates for the first time since 2003 on the back of fears that distressed financial markets could trigger a global slowdown in economic activity.
MPC members signal Bank won't cut just yet
Despite Sir John Gieve's indication earlier this week that he would back a rate cut in the coming months, comments by other members of the Bank of England's Monetary Policy Committee (MPC) signal rates will stay at 5% for the time being.
EU Commission competition claims wrong
It is the low level of cross-border account mobility, not low customer mobility in national markets, which hinders the EU's bank customers' ability to switch to a more competitive bank, says Deutsche Bank research.
Norway's Gjedrem: price stability tempers cycle
Monetary policy that is oriented towards stabilising inflation and price expectations will moderate the impact of bubbles and financial crises, said Svein Gjedrem, the governor of the Bank of Norway.
Canada's Murray on domestic credit markets
Strains in Canadian credit markets have been considerably less intense than those seen in the United States and elsewhere, said John Murray, a deputy governor of the Bank of Canada.
Nordic banks and RBA join Fed swap club
The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.
HKMA counters rumours third-largest lender unsound
The Hong Kong Monetary Authority (HKMA) on Wednesday moved to placate fears that the Bank of East Asia, the territory's third-largest lender, is in trouble.
Iran appoints Bahmani as governor
Mahmoud Bahmani, the generally secretary of the Central Bank of Iran, is to take the helm after the sacking of Tahmasb Mazaheri, local media has reported.
Polish PM finally approves deputy nomination
Donald Tusk, Poland's prime minister, will give the nod to Witold Kozinski to become a deputy president at the country's central bank despite earlier misgivings regarding the economist's stance on currency intervention.
Asia needs tightening
There may not be a meaningful reduction in inflation rates without policy tightening in Asian economies, finds new research from the Hong Kong Monetary Authority.
BoJ: money markets still edgy
Global money markets remained nervous in the first half of 2008, according to the newest financial markets report from the Bank of Japan.
More banks will fail if we don't act: Paulson
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, the US Treasury secretary, have told lawmakers that a failure to rush through proposals for the purchase of up to $700 billion-worth of distressed assets would cripple the US economy.
Banks favour Frankfurt for dollar auctions
Results of the European Central Bank's (ECB) and Bank of England's dollar auctions indicate the Frankfurt-based institution's operations are attracting more bids because of its more lenient collateral rules.
South African inflation hits record high
South African inflation accelerated to 13.6% in the year to August, the highest level since the government began to compile the data in 1998.
Demand for one-month Fed money soars
The results of the latest of the Fed's Term Auction Facility operations signals the extent to which US banks are becoming ever more reluctant to lend to their counterparts.
Systemic banking crises - a new database
A paper from the International Monetary Fund presents a new database on the timing of systemic banking crises and policy responses to resolve them.