Central Banking
A new monetary policy for the Fed
Jane D'Arista, an economist, has proposed a new countercyclical method of monetary control to enhance the Federal Reserve's ability to respond to credit contractions and expansions, in a new paper published by the University of Massachusetts Amherst.
Bric economies call for greater voice
Brazil, China, Russia and India, the four leading emerging-market economies, have pressed for a greater say in the running of the Bretton Woods institutions.
Stiglitz laments US's "bogus" bailouts
Joseph Stiglitz, the 2001 Nobel Laureate, tells CentralBanking.com why the US administration must set up its own lender and stop pandering to the banks if it is to fix the economy.
Bernanke admits Fed failed in regulatory role
Ben Bernanke, the chairman of the Federal Reserve, has acknowledged that the central bank could have done a better job in preventing the financial crisis.
Serbia seeks more IMF, EU aid
Serbia is in talks with the International Monetary Fund (IMF) and the European Union (EU) to secure more emergency funding to bolster its reserve stockpile and limit the social impact of the crisis.
Fiji's Narube on productivity
Fiji's rate of productivity is extremely disappointing, said Savenaca Narube, the governor of the Reserve Bank of Fiji.
Policy can make deflationary episodes more costly
The costs of previous deflationary episodes have been exacerbated by inappropriate policy responses, a new paper from the Bank of England posits.
New measures for housing inflation needed
Policymakers lack appropriate measures of inflation for the market in owner-occupied housing services, argues a new paper form the Philadelphia Federal Reserve.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.
Basel, IADI issue deposit insurance guidelines
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers (IADI) has issued a set of global guidelines for deposit guarantee systems.
China concerned over Treasury holdings
Wen Jiabao, China's prime minister, has said that the country, which has the biggest stockpile of United States government debt in the world, is "a little worried" about its US Treasury holdings.
Basel Committee, FSF expand membership
The Basel Committee on Banking Supervision and the Financial Stability Forum (FSF) have expanded to include a host of emerging-market economies.
De Larosiere, Dodge to lead new global watchdog
Jacques de Larosiere and David Dodge are to head a private-sector-sponsored international monitoring group tasked with assessing risk and fostering stability.
Chile makes mammoth rate cut
The Central Bank of Chile chopped 250 basis points off its key rate on Thursday, saying that it expected inflation to slide speedily.
FSA's Sants heralds "supervisory revolution"
Limitations of a purely principles-based regulatory regime have to be recognised, Hector Sants, the chief executive of the Financial Services Authority (FSA), the British industry regulator, has conceded.
Canada's Longworth faults VaR
Methodologies based on Value at Risk (VaR) that are too dependent on short historical samples cause procyclicality, said David Longworth, a deputy governor of the Bank of Canada.
BoE's Barker confident on quantitative easing
Increasing the money supply is a significant move that will prop up the economy, said Kate Barker, a member of the Bank of England's Monetary Policy Committee.
Buba on savings banks and liquid assets
Savings banks hold a higher amount of liquid assets for each unit of sight deposits than regulation requires, posits a new paper from the Bundesbank.
Basel Committee to raise capital ratios
The Basel Committee on Banking Supervision has said that it will raise capital requirements next year in order to ward off future episodes of economic and financial stress.
Switzerland to intervene to halt franc's gain
The Swiss National Bank pledged to curb the appreciation of the Swiss franc against the euro on Thursday and said that there was a risk of deflation over the next three years.
Emerging markets need higher inflation targets
Countries subject to higher levels of macroeconomic volatility may find it desirable to target a higher level of inflation, a new paper from the International Monetary Fund posits.
NZ's Bollard sees recovery soon
The Reserve Bank of New Zealand cut its key rate to a fresh record low on Thursday, but Alan Bollard, the governor of the Reserve Bank, signalled an economic recovery is not far off.
Estonia to be among first to recover: deputy
The risks to the Estonian economy have receded substantially and it may be one of the first country's to recover from the financial crisis, a deputy governor at the country's central bank has said.
Fed's Braunstein urges caution on lending rules
Any new laws on lending practices need to carefully target abuses without unduly restraining responsible credit, said Sandra Braunstein, the director of the division of consumer and community affairs of the Federal Reserve.