Europe
Financial developments in emerging Europe
Emerging Europe needs to ensure factor markets are flexible and financial systems strong to avoid painful economic adjustments, International Monetary Fund (IMF) research finds.
Improve enforcement non-EU emerging Europe told
Emerging European economies not yet members of the EU need to better enforce financial regulation if they are to continue to grow, International Monetary Fund research finds.
European central bank response wins plaudits
The reaction of European central banks to the credit crisis gained International Monetary Fund (IMF) approval on Monday.
Fed finally gives Basel II the green light
The Federal Reserve Board on Friday approved the American version of the Basel II framework on risk-based capital requirements. It is the last of the Group of Ten countries, which developed the framework, to do so.
Polish governor was sole dissenter on rate vote
Slawomir Skrzypek, the governor of the National Bank of Poland, was the only member of the monetary policy council to vote against the decision to raise the benchmark interest rate to 4.75% in August.
Japan will weather banking crisis, says Mizuno
There is little chance of the recent banking crisis adversely affecting the Japanese economy according to Atsushi Mizuno, the most hawkish member of the central bank's current rate-setting board.
Can rainy-day funds make a difference in Europe?
The Bank of Italy has published a paper looking at whether rainy-day funds, which US states (who usually have to balance their budgets) use to limit procyclical fiscal policies, have a role to play in European fiscal policy.
Crisis shows why we need Basel II, says Committee
The recent banking crisis has underlined the importance of Basel II implementation, according to the Basel Committee on Banking Supervision.
Sales remain within Gold Agreement Limit
Gold sales by the 16 signatories to the Central Bank Gold Agreement between 27 September 2006 and 26 September 2007 amounted to 475.75 tonnes, 24.25 tonnes shy of the 500 limit, the Bank for International Settlements said on Wednesday.
Speed up on SEPA: ECB's Tumpel-Gugerell
Banks need to step up their efforts if they are to be prepared for the launch of the Single European Payments Area (SEPA) on 1 January next year, according to Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank.
Target2: ready to go
Five years in the making, Europe's new large-value payments system, known as Target2, is ready to go live on 19 November.
Europe set for SEPA after Sibos session
"SEPA is here! I met it in Boston," declared Jean-Michel Godeffroy, head of payments systems and market infrastructure at the European Central Bank (ECB), as Europe's payment players agreed to send, receive and process euro payments according to new…
Banks struggle with SEPA set-up
More than half of banks will not be able to comply with the Single Euro Payments Area (SEPA) initiative, which comes into effect in January.
Some grim reading for bankers
A paper published by the European Central Bank has found the interdependence of lending decisions by national subsidiaries of global banks can lead to contagion.
BIS paper on house prices in emerging Europe
This BIS working paper examines the determinants of house price increases in central and eastern Europe.
Trichet's testimony to Parliament
The president of the European Central Bank, Jean-Claude Trichet, testified to the Euroepan Parliament's Economic and Monetary Affairs Committee earlier in the month.
EU central bankers decide against bail-out rules
Finance ministers and central bankers from the European Union decided at a weekend meeting in Portugal not to draw up fixed rules in advance on bailing out banks and other financial institutions with cross-border operations in the EU.
We can overcome international snub - Iran deputy
Mohammad-Jaafar Mojarrad, the deputy governor of the Central Bank of the Islamic Republic of Iran, said it is handling the impact of the US's plea to Europe's banks to stop trading dollars with the country.
Central bank gold sales to approach limit
Members of the central bank gold agreement (essentially the eurozone plus Sweden and Switzerland) have sold 396 tonnes in the first 10 months of the "gold year", as much as the total for the whole of last year.
ECB publishes "Blue Book"
The 2007 edition of the Blue Book, which describes the main payment and securities settlement systems in the EU, comes in two volumes: one on countries in the euro area, the other for non-euro area countries.
Market optimism fades after Fed action
After the rally in US equity market of Friday continued in Asian and European markets after the weekend, Wall Street indexes were firmly back in the red by mid-day on Monday.
CEBS advises on liquidity risk management
The Committee of European Banking Supervisors, which acts as a consultant to the European Commission on banking policy issues, published the first part of its technical advice on liquidity risk management.
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
ECB on downward wage rigidity
A study published by the European Central Bank (ECB) on 31 July, has found that the number of industries affected by downward nominal wage rigidity in OECD countries increased between the 1970s and 1990s.