Federal Reserve System
Northern Rock shows fallibility of communication
The run on Northern Rock, a British mortgage lender, illustrates the potential downside of central bank communication around stability issues, says Gary Stern, the president of the Minneapolis Federal Reserve.
Global slowdown may hamper US deficit financing
It may be harder to continue financing United States current-account deficits on such favourable terms if the recent wave of financial globalisation were to subside, research published by the New York Federal Reserve finds.
Fed minutes reveal clear shift in outlook
The minutes of the December meeting of the Federal Open Market Committee (FOMC), published on Wednesday, reveal a more dovish Federal Reserve than was suggested at the time.
Interbank rates plummet as year-end passes
Pressure on the banking industry eased on Wednesday with spreads between money market and central banks' benchmark interest rates narrowing as the end-of-year liquidity panic passed. The falls indicate that the central banks' efforts to alleviate some of…
The blame game
The decision of many central banks, most notably the Federal Reserve, to lower rates in the wake of the dotcom crash, has drawn criticism from some quarters post-credit crunch. But, Claire Jones, editor of Central Bank News, argues blame for the crisis…
Fed to conduct auctions for "as long as necessary"
The Federal Reserve said on Friday it will continue to run Term Auction Facility auctions twice a month "for as long as necessary to address elevated pressures in short-term funding markets."
Federal Reserve hardens rules on subprime lending
The Federal Reserve on Tuesday issued a set of proposals for firmer regulations on subprime lending practices aimed at protecting consumers from unfair and deceptive home mortgage lending and advertising.
Fed's Lacker "troubled" by US inflation
Jeffrey Lacker, the president of the Richmond Federal Reserve, said on Wednesday that he was uncomfortable with the inflation picture in the United States.
US markets unconvinced by 1980s inflation fall
Financial markets were sceptical of the Federal Reserve's commitment to low inflation even after the period of disinflation in the early 1980s, research published by the Kansas City Federal Reserve finds.
Near-record inflation forces Oman to limit lending
The Central Bank of Oman upped banks' reserve requirement ratio on Sunday in a bid to curb rampant inflation.
Greenspan warns of stagflation risk
Alan Greenspan, a former chairman of the Federal Reserve, warned on Sunday that the United States economy was exhibiting the first signs of stagflation.
Officials praise central bankers' collaboration
Central bankers and politicians across the globe offered swift and unanimous approval for Wednesday's concerted effort to inject liquidity in a bid to counter dogged interbank tensions.
Joint effort failing to counter interbank tension
Interbank rates stayed high and markets plummeted on Thursday in spite of the collective action launched by five of the most powerful central banks on Wednesday.
Cooperation can't get to root cause of crunch
The central banks' coordinated attempt to bring interbank rates down may alleviate liquidity pressures, but not the mistrust the lies at the core of the crunch, says Avinash Persaud, the chairman of Intelligence Capital, a financial advisory firm.
Central banks collaborate to ease interbank woe
In one of the most significant co-operative central banking efforts of modern times, five of the world's most powerful monetary authorities joined forces in a bid to restore order in the interbank markets.
Fed opts for quarter-point cut
The Federal Reserve's rate-setting Federal Open Market Committee (FOMC) voted on Tuesday to cut rates by 25 basis points to 4.25%.
Price fall the main cause of subprime delinquency
A fall in house prices has been the single biggest contributor to the rise in subprime delinquency levels, research published by the San Francisco Federal Reserve finds.
Credit channel has bigger effect on big banks
Rate hikes have a greater impact on the lending behaviour of bigger banks than smaller institutions, research published by the Chicago Federal Reserve finds.
Prices stickier for manufacturers: US research
The cost for manufacturers to re-price their goods deters them from making changes, research by the New York Federal Reserve finds.
UK and Japan react to house prices, but not Fed
The Bank of England's and the Bank of Japan's monetary policy responds to house price changes, but the Federal Reserve's does not, research by the Riksbank finds.
Dollar's value linked to US productivity
A more productive United States workforce indirectly enhances the dollar's value, research published by the San Francisco Federal Reserve finds.
Japan must not be too late in hiking rates
The Bank of Japan needs to ensure that the pace of rate hikes in Japan is not too slow to risk the economy overheating, says Miyako Suda, a board member at the central bank.
Economic outlook is worsening: Fed's Yellen
The United States economic growth outlook has weakened further since the Federal Reserve said that the risks to inflation and growth were balanced in late October, says Janet Yellen, the president of the San Francisco Federal Reserve.
We were transparent enough, say bankers
Investors were given all the information they required on structured products, a group of senior figures at top investment and commercial banks told UK lawmakers on Tuesday.