Central Banking
Central banks should allow governments to fail: Kocherlakota
Minneapolis Federal Reserve president Narayana Kocherlakota says central banks risk losing control of price stability if they don’t allow fiscal authorities to default
Weber attacks international financial safety net concept
Former Bundesbank president Axel Weber raises objections to IMF as permanent liquidity swap provider; says measures are "undesirable" and "unrealistic"
Finland’s Liikanen discusses weaknesses in Europe
Erkki Liikanen wants progress in fiscal correction, bank capitalisation and economic governance; reminds Greece of its responsibility for itself
Forward guidance not always a positive sum game: Subbarao
Reserve Bank of India governor Duvvuri Subbarao identifies challenges in using monetary policy statements to offer guidance on future policy
Recessions and banking crises are strongly interdependent: BoE paper
Bank of England study co-authored by Martin Weale identifies useful indicators that can help predict banking crises
Indian government overhauls RBI central board of directors
Seven new directors replace retirees from Reserve Bank of India’s central board of directors; all will serve four-year terms
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor tells banks to stop accusing others of bad behaviour; discusses Institute of International Finance's concerns about financial reform agenda
Taiwan again defends currency policies
Central Bank of the Republic of China (Taiwan) releases statement defending policies; second time this month public defence is issued
Fed's Tarullo calls for more research into systemic risk
Daniel Tarullo asks for more research into industrial organisation and systemic risk
Precautionary price stickiness: Bank of Spain paper
Bank of Spain working paper uses two models to assess price setting
MPC member Broadbent discusses sterling depreciation
Ben Broadbent analyses the cause and consequences of the sterling’s depreciation between 2007 and 2008
Risk management in central and eastern Europe: Hungarian research paper
National Bank of Hungary releases working paper that looks at risk management approaches in central and eastern Europe
SEC's Schapiro under fire in Madoff conflict case
SEC's former general counsel David Becker inherited $2 million account with Ponzi fraudster
Gonzalez-Paramo urges speedy action in Europe
ECB executive board member pushes for more haste from European leaders to stem the crisis; says ECB has not decided when to end bond-buying programme
Pressure on the IMF to make surveillance a priority
Representatives from several global constituents call on IMF to take a central role in surveillance of countries as international reforms take hold
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Bank of Korea holds economic review meeting
Governor Kim Choongsoo meets with heads of institutions and scholars; domestic financial markets ‘overreacting’ to changes in external conditions
ECB paper highlights limitations of reforms to Stability and Growth Pact
European Central Bank study co-authored by Jürgen Stark says new fiscal surveillance framework will not ensure sound fiscal policies
Financial literacy key to stability: RBI’s Chakrabarty
Reserve Bank of India deputy governor KC Chakrabarty says improving financial literacy is necessary to minimise financial stability risks
Philly Fed paper tests accuracy of Phillips curve in forecasting inflation
Philadelphia Federal Reserve study shows accuracy of Phillips curve models in forecasting inflation is highest during economic downturns
De Nederlandsche Bank paper measures flow of trade-based money laundering
De Nederlandsche Bank study shows money laundering through licit exports and imports offers way around stricter anti-money laundering regulations in financial markets
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
IMF launches mobile phone application
International Monetary Fund releases mobile application; allows Apple iPad users access to statistical data