Central Banking
Korean state-owned entities to the rescue
The Financial Services Commission (FSC) in Korea has unveiled a financial rescue plan for 2009 aimed at helping local banks improve their balance sheets and reduce their exposure to bad debt.
Rogoff and Reinhart on the aftermath of crises
A new paper by Kenneth Rogoff and Carmen Reinhart provides an historical analysis of the aftermath of systemic banking crises.
Fund calls for fiscal expansion
This staff position note by the International Monetary Fund outlines the characteristics of the fiscal stimulus the Fund is calling for to revive the global economy.
ECB warns of "downbeat attitude" on SEPA
The European Central Bank has published its sixth progress report on the implementation of the Single Euro Payments Area.
Albanian banks resilient - Fullani
The Albanian banking system has shown "admirable resilience" in the face of the global financial turmoil, said Ardian Fullani, the governor of the Bank of Albania.
Iraq to cut rates
The Central Bank of Iraq has announced that it will reduce its key policy rate by 1 percentage point to 14%, starting next year.
UAE creates swap lines for local banks
The Central Bank of the United Arab Emirates (UAE) is to provide currency-swap facilities for the UAE dirham and the US dollar to local banks in a bid to inject more liquidity into the country's banking system.
BoJ considers "extraordinary steps" - Kamezaki
The Bank of Japan is considering "extraordinary steps" to counter financial-market turmoil and a deepening recession, Hidetoshi Kamezaki, a member of the central bank's policy board said last week.
China to promote freer yuan trades
Beijing will allow some trade with neighbouring countries to be settled in yuan, the Chinese currency, rather than in the dollar or the euro.
Raza nominated to replace Akhtar
Saleem Raza, a former executive at Citigroup, has been nominated as the new governor of the State Bank of Pakistan, after the unexpected resignation of Shamshad Akhtar.
Japanese economy to stay weak - report
The Bank of Japan's latest monthly report on financial and economic conditions paints a gloomy picture of the outlook for the world second largest economy.
Trichet on the euro
In this interview, Jean-Claude Trichet, the president of the European Central Bank, discusses various developments surrounding the euro.
Revisiting the Balassa-Samuelson effect
This paper by the Bank for International Settlements estimates the Balassa-Samuelson effects for 11 countries in Central and Eastern Europe.
Explaining interest-rate spreads
This paper uses a time series econometric framework to determine the structural determinants of the spread between the European Overnight Rate and the European Central Bank's Policy Rate from mid-2004 to mid-2006.
Italy names first female board member
Anna Maria Tarantola, the managing director of the Bank of Italy's banking and supervision unit, will replace Antonio Finocchiaro in the new year as deputy director-general at the central bank. In doing so, she will become the first woman to sit on the…
Eurosystem continues to shed staff
The number of central bankers in the 16 national central banks that now make up the Eurosystem stands at 46,123, a fall of 17.9% since 2003, reveals the 2009 edition of Central Banking Publications' Central Bank Directory.
Crisis calls for revision of LOLR role: economists
Central banks must broaden their remit as lenders of last resort in the wake of the crisis, two economists who advise central banks have said.
Poland slashes on signs of sharp slowdown
The National Bank of Poland made its steepest cut since January 2001 on Tuesday and cautioned that the country's economy was set for a sharper-than-expected slowdown.
China bids to breathe life into ailing economy
The People's Bank of China has cut its key lending and borrowing rates for the fifth time in three months in its quest to shore up faltering growth in the world's fourth largest economy. However, the move met with disappointment from market participants,…
Bubbles becoming ever-more frequent: BoJ head
Masaaki Shirakawa, the governor of the Bank of Japan, has noted that asset-price bubbles are becoming more and more frequent.
Some lessons on liquidity
The price a bank pays for liquidity depends upon the liquidity positions of its rivals as well as its own, research from the Bundesbank finds.
We need greater global cooperation: Thai governor
Tarisa Watanagase, the governor of the Bank of Thailand, has warned that combating the credit crisis necessitates a greater degree of international cooperation.
National Bank of Rwanda - Annual Report 2007
The state of Rwanda's public finances worsened in 2007, the central bank's latest Annual Report states.
Gieve: we need new instruments
Sir John Gieve, the deputy governor of the Bank of England, has admitted that the Bank underestimated the scale of the credit crisis and said the turmoil has demonstrated the need to equip central banks with new policy tools.