United States
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.
FDIC's Bair: foreclosures impact whole economy
Minimising foreclosures is important to the broader effort to stabilise global financial markets and the US economy, said Sheila Bair, the chairman of the Federal Deposit Insurance Corporation (FDIC).
Reserve Bank of Australia - Annual Report 2007
The sound position of local banks was a major source of strength for the Australian financial system during last year, said Glenn Stevens, the governor of the Reserve Bank of Australia, in the foreword the central bank's latest Annual Report.
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.
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…
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.
Bank rescue - or protection racket?
Will 19 September 2008 go down in history as a day when wise and courageous politicians took the steps necessary to rescue the global banking system, or as the last throw of the dice? Maybe neither of these - maybe it will be remembered just as another…
Impact of new economic data on markets
A new paper by the New York Fed investigates how the issuance of new economic data influences asset prices in the stock, bond and foreign exchange markets.
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.
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.
Geithner skips FOMC meeting
Tim Geithner, the president of the New York Fed and the Federal Reserve System's chief crisis manager since the outbreak of the credit crisis, did not attend Tuesday meeting of the Federal Open Markets Committee (FOMC). Geithner stayed behind in New York…
Fed hosting crisis talks for insurance giant
The Federal Reserve Bank of New York is facilitating crisis talks between state insurance regulators, private sector investors and the management of American Insurance Group (AIG) to devise an emergency capital injection for the beleaguered insurance…
Fed faces crunch call, market now prices in cut
Financial markets have dramatically adjusted expectations of the outcome interest-rate decision to be announced by the Federal Open Market Committee (FOMC) late on Tuesday.
Triple shock leaves Wall Street in disarray
News of the Lehman Brothers' demise, the sale of Merrill Lynch and major concerns over the health of a range of other financial institutions has put the risk of rapid contagion and a systemic meltdown of the financial sector back at the top of central…
Banks step in with superfund
Ten of the world's biggest banks have joined forces to create a $70 billion liquidity fund intended to mitigate the impact of the latest round of financial turmoil.
China fund involved in Lehman bid - report
China Investment Corporation (CIC), Beijing's sovereign wealth fund, is said to be involved in a possible bid for Lehman Brothers, a beleaguered US bank.
Congress to hold hearing to "stay on top" of SWFs
A US Congressman has called a hearing to examine the impact of sovereign wealth funds' purchases of stakes in some of Wall Street's finest.
Silicon Valley typical of US R&D geography
Research and development (R&D) activity in the US tends to be heavily geographically concentrated, a paper published by the Philadelphia Federal Reserve finds.
Core inflation a better signal of price trends
The relationship between headline and core inflation has changed significantly over time, research published by the Federal Reserve finds.
Philadelphia Fed offers virtual help to homeowners
The Philadelphia Federal Reserve has launched an online resource centre in a bid to help prevent foreclosures and lessen their negative influence on neighbourhoods.
Financial education a vital part of Fed mission
Ben Bernanke, the chairman of the Federal Reserve, believes the central bank's role as a financial educator as a vital part of its mission.
Central bankers back Fannie and Freddie takeover
Central bankers worldwide have endorsed the US Treasury's de-facto nationalisation of Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSE) that insure about half of the US's mortgage stock.