Central Banking
Canada, Japan outline responses to G7 plan
Canada and Japan, the industrialised countries least affected by the current turmoil, on Tuesday announced their responses to the G7 plan.
G7 plan "a major success": Riksbank's Ingves
The five-point plan agreed by the G7 finance minsters and central bank governors should help improve confidence in financial markets, said Stefan Ingves, the governor of the Riksbank.
Valuation at the heart of crisis: Banque de France
Valuation issues lie at the heart of the financial turmoil, Banque de France stated in its latest Financial Stability Review.
RBI's Subbarao: don't overlook us in crisis
Policy makers from developed countries need to take emerging markets and developing countries into consideration in their responses to the current turmoil, noted Duvvuri Subbarao, the governor of the Reserve Bank of India.
Bank of Estonia - Annual Report 2007
In 2007, Estonia started, after several years of exceptionally strong growth, moving towards a more stable and sustainable level of expansion, said Andres Lipstok, the governor of the Bank of Estonia, the latest Annual Report.
US bailout to include "significant" equity stake
The US Treasury is likely to spend a very significant amount of the $700 billion at its disposal on recapitalising the US's battered banking sector, an official who will oversee the Troubled Asset Relief Plan (TARP) told an audience in London on Monday.
Markets rally on global bailout
Equity markets bounced on Monday on signs that coordinated action taken over the weekend had helped soothe investor sentiment.
Britain re-capitalises banks, warns on bonuses
British authorities on Monday warned banks to review their compensation structures after pledging up to £37 billion ($64 billion) to re-capitalise some of the country's largest banks.
Australia, NZ guarantee all deposits
Australia and New Zealand became the latest countries to guarantee all deposits over the weekend.
EU agrees to re-capitalise banks
European Union (EU) officials on Sunday agreed to follow Britain's lead in pledging to inject sufficient capital into the region's battered banks.
Why failed bank executives must go
Senior management of banks that require public assistance should be replaced, says Robert Pringle, the editor-in-chief of Central Banking journal.
Markets plunge, interbank rates rise despite cut
The unprecedented half-point coordinated rate cut by six of the most powerful central banks on Wednesday has done little to abate the panic in global equity and interbank markets.
DSK proposes "action plan" for crunch
Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF), on Friday urged governments to guarantee retail, interbank and money-market deposits.
India slashes reserve ratio by 150 basis points
The Reserve Bank of India on Friday lowered its reserve requirement ratio by 150 basis points in a bid to ease liquidity tensions brought on by the global turmoil.
Icelanders protest outside central bank
Icelanders have staged a protest outside the country's central bank reportedly calling for the resignation of the governor, David Oddsson.
IMF should monitor stability: Riksbank's Ingves
Stefan Ingves, the governor of the Riksbank, called for the International Monetary Fund (IMF) to be given a greater role in promoting financial stability.
Worldwide cuts are not enough
The coordinated cuts by six of the most powerful central banks could prove a useful step in improving market sentiment. But only if it is coupled with more action at both a national and international level, Avinash Persaud, the chairman of Intelligence…
Rosengren on aid to money market funds
Eric Rosengren, the president of the Boston Federal Reserve, argued that many assumptions about the financial system have proven to be seriously flawed.
BoJ minutes reveal thinking behind dollar funding
The minutes of the Bank of Japan's Monetary Policy Meeting on 18 September reveal discussions that led to the central bank introducing dollar fund-supplying operations against pooled collateral as a temporary measure.
Crisis has spared India: deputy Mohan
India has by-and-large been spared of the consequences of the fallout from the US subprime crisis, Rakesh Mohan, a deputy governor at the Reserve Bank of India, said.
Iceland nationalises biggest bank, halts trading
The Icelandic authorities on Thursday took control of Kaupthing, the country's biggest bank, and halted trading in all shares listed in Reykjavik.
Asia makes rate cut 'truly global'
China cut rates for the second time in as many months on Wednesday, supporting the joint action by six of the most important central banks to loosen policy. A host of other Asian central banks have also replicated the Federal Reserve-led move.
Paulson hints at possible bank recapitalisation
Hank Paulson, the US Treasury secretary, has indicated that America is likely to attempt to recapitalise its ailing banks.
SNB's Hildebrand and Italy's Saccomanni on crisis
The crisis has shown central bankers and regulators rightly predicted that highly-leveraged institutions presented a threat to stability. But officials' attentions were directed at the wrong type of institution, admitted Philipp Hildebrand, a governor of…