Feature
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Five lessons for dealing with EU bank failures
Hugo Banziger spent two weekends trying to save a German bank from failure. Here he identifies how and where European Union rules must change so that resolutions are faster and fairer
Federal Reserve policy as shown by its history
Much of the independence won by Paul Volcker has been surrendered in the recent crisis, says Allan H. Meltzer
How China is empowering the boardroom
Sound corporate governance is essential if future financial crises are to be avoided. Liao Min and Rui Wang of the China Banking Regulatory Commission (CBRC) explain how the commission is developing guidelines to make this happen
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
Towards a new framework for monetary policy
Jacques de Larosière argues that monetary policy played a major role in the run-up to the financial crisis and that a new operational framework is needed
When experts fail
Frank Vibert explores the lessons of the crisis for regulators. The key is not to re-politicise markets but to improve the disciplines that regulators follow
When to exit?
In Central Banking’s second webinar, sponsored by BNP Paribas Securities Services, Charles Goodhart, Lucrezia Reichlin, Paul Mortimer-Lee and Gabriel Stein discussed when central banks should raise rates
The calculus of international currency use
Hans Genberg analyses the costs and benefits of a currency being used beyond its issuer’s borders
The fight for the Fed
Malan Rietveld looks back at Ben Bernanke’s bruising confirmation hearings
Has Bernanke broken his promise to Friedman?
The monetary policies of the Federal Reserve have helped to avoid a second Great Depression, but Bernanke’s emphasis on credit has been misguided, says Tim Congdon
Audit the Federal Reserve?
An independent institute for monetary statistics is needed in the United States, says William Barnett. Expanded congressional audit would be a second best alternative.
The winds of change for central banks
John Singleton argues that the forces pushing for a change in central bankers’ relations with governments are currently very strong, as they were in the 1930s
Price-level targeting: a new monetary approach
As criticism of inflation targeting grows, economists and central bankers are taking a closer look at price-level targeting as an alternative. Malan Rietveld reports
Forget inflation targeting
Central banks should let markets set interest rates and let prices fluctuate in the short to medium term, argues Brendan Brown
Asia’s moment
The timely infusion of government support has led to a resurgence in Asia that has caught observers off guard, argues Malan Rietveld
Reflections on the future of the banking system
John Chown assesses the lessons from the past for the creation of a sustainable banking system.
On the record: Paul Volcker
The former Fed chairman tells Congress that the central bank must take the leading role in regulating the financial system
How can central banks avert the next crisis?
Claire Jones moderated Central Banking’s first ever live webinar, which was sponsored by BNP Paribas Securities Services.
Restoring normality to the financial system
John Nugée identifies six key areas that central banks need to consider in attempting to establish the new normal
Negative interest rates for the euro area?
Recent Taylor rule studies have suggested the Fed should have negative interest rates. Janko Gorter, Jan Jacobs and Jakob de Haan investigate the same question for the euro area.
Interview: Marion Williams
Blair Baker spoke to the governor of the Central Bank of Barbados about the how the crisis has affected the island economy and the challenges she faces
How Yam secured his place in history
Tony Latter assesses the career of the recently retired Joseph Yam at the helm of the Hong Kong’s monetary authority.
A trans-Tasman comparison
Rodney Dickens argues that the New Zealand central bank is reverting to bad old habits.