Central Banking
SWFs look beyond Santiago
Although agreement on the Santiago Principles for sovereign wealth funds represents a remarkable achievement, the proof of their effectiveness will come in the implementation phase that has now started.
ECB issues Sepa "expectations"
The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Tucker: macroprudential is more than macro + micro
A macroprudential approach to financial supervision requires more than simply bringing together the central bank's macroeconomists and the regulator's line supervisors, said Paul Tucker, a deputy governor of the Bank of England.
Bank Negara Malaysia - Annual Report 2008
The year 2009 will be a highly challenging year for the Malaysian economy, said Zeti Akhtar Aziz, the governor of the central bank, in the latest Annual Report.
Limits to safety net support - Richmond's Lacker
It is of paramount importance to clearly define the boundaries of future safety net support, said Jeffrey Lacker, the president of the Richmond Federal Reserve.
Europe's and Japan's fiscal actions procyclical
Discretionary fiscal policy tended to be procyclical in continental European countries and Japan, a new paper from the International Monetary Fund posits.
Cooperation between leaders and banks essential
As the world responds to financial and economic turmoil, the industry and authorities must work together as never before, says Angela Knight, the chief executive of the British Bankers' Association (BBA).
Goodfriend: Fed's fiscal statement does not go far enough
The Federal Reserve's attempt to clarify its stability role is a move in the right direction, but must be improved upon
Zhou warns against trust in external ratings
Zhou Xiaochuan, the governor of the People's Bank of China, voiced concern about the role of rating agencies in an essay posted on the central bank's website.
Zimbabwean prices stabilise after dollarisation
Zimbabwe's Central Statistical Office has announced that prices in the ravaged Southern African nation have started to fall since the adoption of the US dollar.
When will the sovereigns return - and how?
Participants in a conference on the management of sovereign assets and reserves, hosted by Central Banking Publications, were split over when public investors will regain their appetite for risk following significant losses during the current financial…
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
Atlanta's Lockhart: exports won't save US
Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta, does not expect a sudden return of exports as a driver of recovery in the United States in the remainder of 2009.
Sharp decline in inflation a plus - RBI's Subbarao
The sharp decline of India's headline inflation is an advantage for the country's policymakers as they respond to the current economic conditions, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Data on home-host banking activity inadequate
Data on international banking activity remain largely inadequate for surveillance and policymaking purposes, new research from the International Monetary Fund (IMF) posits.
Geithner outlines regulatory overhaul
Tim Geithner, the US Treasury secretary, sounded the knell of light-touch regulation on Thursday, outlining a reform agenda that if passed will see a single systemic-risk supervisor clamp down on all financial firms deemed either too big, or too…
Former Hungarian governor frontrunner for premier
Gyorgy Suranyi, a former governor of the National Bank of Hungary, is seen as a frontrunner to become the next prime minister of the eastern European state.
Geithner open to Zhou suggestion, but backs buck
Tim Geithner, the US Treasury secretary, said on Wednesday that he was open to People's Bank of China governor Zhou Xiaochuan's suggestion of expanding the use of special drawing rights (SDRs) but affirmed the dollar's strength.
Basel Committee's Praet on the future of regulation
Peter Praet, an executive director at the National Bank of Belgium and a member of the Basel Committee on Banking Supervision, offers some pointers on how global leaders should formulate their regulatory response to the crisis.
Wellink eyes caps on bonuses and hedge funds
Nout Wellink, the chairman of the Basel Committee on Banking Supervision and president of the Netherlands Bank, has called for international principles for bonuses and financial sector pay.
ECB's Papademos calls for macroprudential schema
The establishment of a framework for macroprudential supervision is urgently needed, said Lucas Papademos, the vice president of the European Central Bank.
More interest-rate info from Chile's De Gregorio
As part of its process of increasing transparency, the Central Bank of Chile has improved the level of detail of interest rate information being made available, said Jose De Gregorio, the governor of the Central Bank of Chile.
BoJ's Yamaguchi: private sector key driver
Fiscal and monetary policies are no more than a crutch to facilitate adjustments in and the positive efforts of the private sector, said Hirohide Yamaguchi, a deputy governor of the Bank of Japan.