Central Banking Journal
Value for money: Financial accountability for central banks
In this introduction to the special feature, John Mendzela explains why central banks are under increasing pressure to be financially accountable
Credit crunch – phase two
The credit crisis that started in August last year has moved into a destabilising second phase, with equity markets and the real economy looking increasingly shaky. This section analyses central banks’ response to the long-running crisis
Why Argentina did not have a currency board
The commonly held belief that Argentina ran a currency board from 1991 to 2002 is wrong, argues Steve Hanke
A match made in heaven?
Terry Beadle explains why the increasingly popular application service provider approach to IT fits central banks like a glove
Who signs the banknotes?
Most banknotes bear signatures, but who are the signatories? Åke Lönnberg explains
Legislative barriers and Northern Rock
Mervyn King’s assertion that he was “hemmed in” by legislation during the run on Northern Rock has some merits, argues Charles Proctor
Sovereign wealth meets poverty in China
Matt Sekerke questions Chinese officials’ captivation with the glamour of international financial markets
A liability-based approach to sovereign wealth
Andrew Rozanov suggests that focussing on the liability profile of sovereign wealth funds is a useful way to understand their objectives and likely behaviour
Obituaries: Terry Smeeton
Terence Smeeton, born 5 July 1942, died 12 September 2007.
The rising financial power of emerging markets
Jacques de Larosière puts the rising financial power of emerging markets in perspective and considers the implications for the international monetary system
Obituaries: Stephen Frowen
Professor Stephen F. Frowen, born 22 May 1923, died 21 December 2007.
Into the limelight
Malan Rietveld looks at the dramatic penetration into the heart of the Western financial system by sovereign investors from emerging markets in recent months
Activity-based costing: a case study
José Clovis Batista Dattoli and Henrique Flávio Rodrigues da Silveira review the Brazilian central bank’s adaptation of a textbook costing system.
China’s monetary mandarins
The ever-increasing importance of China’s economic policymakers has led to intense scrutiny of the people behind the headlines. Andrew Peaple profiles the most important players
Why do central banks make losses?
Financial losses can be very damaging to the reputation and independence of a central bank. Franziska Schobert examines why losses occur.
Lessons of Northern Rock
British lawmakers are divided over how to fix a broken regulatory framework
Learning from the private sector
Central banks have lagged behind the commercial banks improving financial accountability, argues Jeremy Foster and Stephen Anderson.
Interview: Charles Goodhart
Claire Jones spoke with the former Bank of England policymaker about the co-ordinated liquidity interventions and the move towards aggressive policy easing by the Fed
Balancing transparency and discretion
Central banks face unique challenges in meeting demands for financial transparency. Clifford Smout suggests how a better understanding of their performance can be enabled.
News analysis: Forced into action
Claire Jones, the editor of Central Bank News, analyses how uncertainty threatened to cripple the interbank market and called for a unique response from the central banks