International Monetary Fund (IMF)
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
Financial cycles have strong economic implications: IMF paper
Fund study examines whether the close correlation between business and financial cycles is synchronised or coincidental
RBI’s Subbarao: IMF capital control proposals lack flexibility
Reserve Bank of India governor Duvvuri Subbarao says IMF proposals on capital controls leaves little room for policymakers to exercise discretion
Officials gather in DC for IMF/World Bank spring meet
IMF/World Bank spring meetings address global economy and financial stability, governance progress and Japanese disaster
Ethiopia’s Atnafu calls IMF to sharpen focus on LICs
National Bank of Ethiopia governor Teklewold Atnafu calls for Fund to scale up resources in lower-income countries
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
Standard & Poor’s changes US outlook to negative
Rating agency cites growing deficit and debt as rationale behind the change
IMF’s Strauss-Kahn fears mounting social crisis
IMF managing director Dominique Strauss-Kahn says high unemployment and inequality risk developing into social crisis
Greek budget cuts raise default concerns
Markets prepare for the worst as Athens unveils new tougher austerity measures; IMF managing director Dominique Strauss-Kahn says cuts are necessary
Banks caught in ‘maelstrom of interlinked pressures’: IMF
IMF’s Global Financial Stability Report slams progress made by banking system reforms; calls for higher quality and quantity capital in Europe
Non-US sovereigns should collateralise swaps, say US bank regulators
Progress towards sovereign collateral posting has been slow. Now, US regulators are proposing to make it mandatory - for all non-US entities
Measuring output gap in export-oriented economies: IMF paper
Fund study assess methods to measure output gap in countries facing non-traditional demand pressures
IMF praises PMA as Palestine bids for statehood
Palestine Monetary Authority “now in a position to carry out functions of a central bank” as the territory bids for statehood recognition as of September
Bank’s Haldane warns capital inflows may overwhelm emerging markets
Bank of England executive director for financial stability Andrew Haldane says rapid rate of investment in emerging markets could lead to financial instability
IMF paper explores measures of default probability
Fund paper investigates methods to measure market price of risk and probability of default
Risk Europe: S&P slammed for linking Greece, Portugal downgrades to ESM
Eurozone bail-out vehicle doesn't hurt existing bondholders, EC official argues
Financial cycle dynamics: IMF paper
Fund study finds financial cycles tend to be long, severe and highly synchronised within and across countries
IMF moots policy framework for capital inflows
Fund devises “key elements” of possible policy framework for managing capital inflows; framework notable in allowances for capital controls
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
IMF paper on growing threat of moral hazard
Fund study calls for further incentives and rules to stem threat posed by large systemically important financial institutions
IMF paper on debt dilution
Fund study says commitment to reduce debt levels can eliminate risk of debt dilution
IMF paper urges policymakers to address sovereign rating spillovers
Policymakers must account for risks posed by spillover effects of sovereign rating downgrades; contingency plan recommended to deal with possible instability
SNB counters IMF call for rate hike
IMF calls for Swiss National Bank to start raising interest rates; central bank fears rate hike could “dampen” export growth in Switzerland