News
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.
Kuwait on standby to inject funds - reports
The Central Bank of Kuwait has said it is ready to pump funds into the country's banking system, local media reported Tuesday.
Goldmans, MS abandon model, seek Fed shelter
And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.
Tehran ousts central bank governor
Mahmoud Ahmadinejad, Iran's president, has sacked Tahmasb Mazaheri, the governor of the country's central bank, after just 12 months in charge, state media reports.
UAE launches emergency facility
The Central Bank of the United Arab Emirates on Monday became the latest monetary institution to inject funds to alleviate interbank tensions, pledging Dh50 billion ($13.6 billion).
Sweden takes "precautionary" payments measure
The Riksbank has relaxed collateral rules for transactions through its RIX payments system as a precaution against money and bond market stress.
Denmark forced to back up second bank
The National Bank of Denmark has provided emergency liquidity to another of the country's banks, it emerged Monday.
Four announcements send stocks soaring
Stock markets surged on Friday on the news of sweeping crisis measures being introduced by the United States Treasury and other government institutions around the world.
What to look for in Paulson's plan
The sweeping arrangements from the US government to buy bad loans and assets from embattled financial institutions are expected to be announced late on Friday and the details will be discussed extensively over the weekend. Here is what to look out for.
Economists question initiative
Leading economists on Friday raised a number of questions about what was known or expected of the plan at the time. Most of the concerns related to how the government (either the Federal Reserve or the US Treasury) would determine at which price to buy…
Liquidity black holes
The current crisis has seen financial giants torpedoed by a lack of liquidity, which has rapidly transformed into questions over solvency. Conversations at SIBOS, the annual gathering of people in the business of liquidity delivery - payment system…
Sparks fly between Cox and McCain
Christopher Cox, the chairman of the Securities and Exchange Commission (SEC), and John McCain, the Republican president candidate, have clashed over McCain's comment that he would fire Cox if he were president.
Central banks return to collective action
After a series of individual efforts aimed at resolving money market tensions, the world's major central banks resorted to collective action on Thursday, injecting as much as $180 billion (€124.75 billion) into interbank markets through various swaps and…
Banking consolidation continues apace
After months of speculation of its weakest elements, the global banking sector has undergone what many are calling a long overdue consolidation within the space of a few days. Here's a summary of what has happened, its happening - and may happen next.
Russia announces emergency plan
The Russian authorities are preparing to spend $19.59 billion (€13.6 billion) in an effort to stabilise its financial markets as trading on its two main stock exchanges remain closed.
World Bank to "name and shame" remitters
The World Bank has launched an online database to "name and shame" providers of remittance services around the world.
Government still not at the SEPA table
European governments who fail to move on SEPA must be shamed into action, said Jean-Michel Godeffroy, the director general for payment systems at the European Central Bank.
The Fed's balance sheet and the US Treasury
The announcement on Wednesday that the United States Treasury is issuing debt - at the request of the Federal Reserve - to replenish the central bank's balance sheet, has raised questions about the health of the Fed's balance sheet. Here are some…
Questions remain after historic Fed loan
The American government's decision to initiate a far-reaching rescue of American International Group (AIG) breaks a number of historic precedents and raises a number of fundamental questions about the role of government in the financial system.
Central banks in third day of cash support
Central banks around the world continued for a third consecutive day to pump cash into global money markets on Wednesday.
Rupee recovers on RBI intervention talk
India's rupee recovered from a two-year low on Wednesday after the Reserve Bank of India announced measures to boost dollar supply and curb exchange-rate swings.
Bank shake-up on both sides of Atlantic
As part of the dramatic and rapid alteration of the financial industry in recent days, Barclays has announced that it is interested in buying part of Lehman Brothers' investment banking business, while Lloyd's is in talks with HBOS about acquiring the…
Fed holds rates, room for future cuts
The Federal Reserve has defied market expectations for a cut, opting to keep interest rates on hold at Tuesday's monetary policy meeting.