Central Banking
Iceland's banks are strong: Fridriksson
Icelandic banks are expected to have performed relatively well in the first quarter of the year, said Ingimundur Fridriksson, the governor of the Central Bank of Iceland.
Jordan on the Swiss outlook
The outlook for Switzerland's economy remains good, stated Thomas Jordan, a member of the governing board of the Swiss National Bank.
Capital controls can serve as liquidity buffers
Reserve requirements can be used to prevent the occurrence of a bank run by maintaining adequate levels of liquidity, according to a new International Monetary Fund paper.
Turkey to review inflation target
The Central Bank of Turkey will consider revising its inflation target towards the end of this year, the minutes of its April rate-setting meeting show.
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
Give Canadian CB more say on collateral: Carney
Mark Carney, the governor of the Bank of Canada, urged lawmakers to allow the central bank to broaden its list of eligible collateral to alleviate money-market tensions.
OECD inflation hits 3.5%
CPI inflation in the 30 member economies of the Organisation of Economic Co-operation and Development (OECD) rose to 3.5% in the year to March, up from 3.4% the previous month.
UK told to tighten supervision in territories
A group of British lawmakers has called on the government to improve financial supervision in several of its overseas territories.
Stop storing coins, says Solomon Islands CB
The Central Bank of the Solomon Islands has called on citizens to swap their coins for notes rather than hoarding them - a practice which has led to a shortage.
UK's Blanchflower calls for bigger cuts
Aggressive easing is required to prevent the UK falling into recession, said David Blanchflower, a member of the Bank of England's rate-setting committee.
FOMC could do with a revamp: ex-Fed deputy
The Federal Open Market Committee (FOMC) should introduce staff, instead of committee, forecasts, recommended Alan Blinder, a former vice-chairman of the Fed.
Relaxing collateral standards presents risks
By accepting poorer collateral central banks can reduce banks' incentives to hold sufficient amounts of higher-quality assets, said Stefan Ingves, the governor of the Sveriges Riksbank.
Securitisation linked with lending standards fall
Lending standards in the subprime mortgage market declined more in areas with higher mortgage securitisation rates, reports a new International Monetary Fund paper.
Japan lowers growth forecast
The Bank of Japan has chopped more than half a point off its growth estimate for 2008 and warned that in a highly uncertain climate, downside risks to the economy could further limit expansion.
IMF redundancy offer oversubscribed
The International Monetary Fund's bid to cut its workforce by 13% by offering voluntary redundancy packages has led to over 20% of employees asking to leave.
Sri Lanka reacts as inflation hits record high
The Central Bank of Sri Lanka has lowered its reserve money targets in a bid to curb rampant inflation which soared to an all-time high in the year to April.
Saudi to set up $5.3 billion wealth fund
Saudi Arabia is in the final stages of launching its first sovereign wealth fund.
ECB's Papademos on financial integration
Financial integration is highly relevant to the Eurosystem's role in safeguarding financial stability, said Lucas Papademos, the vice president of the European Central Bank (ECB).
Thailand's Watanagase on the role of the IMF
The development of crisis prevention instruments by the International Monetary Fund (IMF) is critical and should be given priority, said Tarisa Watanagase, the governor of the Bank of Thailand.
Hurley praises Ireland's financial oversight
The level of co-operation between central bankers and regulators in Ireland proves very useful in managing financial crises, said John Hurley, the governor of the Central Bank and Financial Services Authority of Ireland.
Bank lending falls in Norway
Household credit demand in Norway declined in the first quarter of 2008, reports a recent survey of bank lending by the Bank of Norway.
Fed cuts to 2%
The Federal Open Market Committee (FOMC) lowered rates by a quarter point on Wednesday.
IMF governors pass reform measures
The vast majority of the International Monetary Fund's (IMF) governing board has backed a raft of reforms that will see emerging markets have a greater say in how the organisation is run.
OMO changes must temper money-market woe: King
Mervyn King, the governor of the Bank of England, said the central bank must ensure its revised system for open market operations leads to overnight interbank rates remaining close to its official rate regardless of financial market conditions.