Speech
SF Fed's Yellen: US in recession
The US economy appears to be in recession as every major part of the economy has been hit by the financial shock, said Janet Yellen, the president of the San Francisco Federal Reserve.
MPC's Sentance: downturn risks on the rise
Severe stresses in the financial system and the news from the real economy have certainly increased the risks of a bigger and more sustained downturn, said Andrew Sentance, a member of the Bank of England's Monetary Policy Committee.
ECB's Bini Smaghi calls for regulatory overhaul
It is not sustainable to run different financial regulation and supervision policies, said Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank.
FSA's Turner: we learned from Great Depression
We have learned from the Great Depression that in the face financial collapse, governments and central banks must take exceptional measures, said Adair Turner, the chairman of the UK's Financial Services Authority.
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.
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.
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.
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.
Bernanke on economic and financial conditions
Ben Bernanke, the chairman for the Federal Reserve, set out the reasoning behind policies towards Fannie Mae and Freddie Mac, Lehman Brothers, AIG as well as the Treasury bailout in a speech to the National Association for Business Economics.
Islamic finance - the new Silk Road
As Islamic finance continues to internationalise with expanding scale, there will be greater financial intermediation linkages among the East Asian, West Asian, and the Middle East regions - creating the 'New Silk Road', said Zeti Akhtar Aziz, the…
IMF's Lipsky: regulatory change needed
All systemic US financial intermediaries should be put under one single regulator, said John Lipsky, the first deputy managing director of the International Monetary Fund.
Slovakia's Sramko: euro brings development
Accepting the euro as the national currency will allow Slovakia to stabilise its economic development, said Ivan Sramko, the governor of the National Bank of Slovakia.
Brazil's Meirelles: corporate governance challenge
Setting high standards of corporate governance is trickier in Brazil than in more mature economies, said Henrique Meirelles, the governor of the Central Bank of Brazil.
Sri Lanka's Cabraal: improve services
Sri Lanka needs to focus more on the services sector, said Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka.
ECB's Bini-Smaghi: tackle conflicts of interest
The main problem with financial markets comes from conflicts of interest at all levels, said Lorenzo Bini-Smaghi, a member of the executive board of the European Central Bank.
Bundesbank's Weber on monetary policy
Monetary policy should react to the financial cycle in a more symmetric way, said Axel Weber, the president of the Bundesbank.
Atlanta's Lockhart: financial sector matters
A working financial sector matters to us all, said Dennis Lockhart, the president of the Atlanta Federal Reserve.
Trichet on the turmoil
The root of the problems in many financial institutions was their inability to adequately assess the risks associated with their exposures, said Jean-Claude Trichet, the president of the European Central Bank.
Trichet: Slovakia should go further with reforms
Slovakia's government should implement structural reforms to foster price stability, said Jean-Claude Trichet, the president of the European Central Bank.
Japan no exception to global threat: BoJ deputy
Kiyohiko Nishimura, the deputy governor of the Bank of Japan, has warned that the world's economies, including Japan, now face serious challenges.
We will suffer a while yet: Sweden's Ingves
Stefan Ingves, the governor of the Riskbank, has warned that Sweden will probably have to live with the financial market turbulence and the crisis in the US for a good while to come.
Ex-FSA's McCarthy wants more realism on risk
Financial institutions need greater realism and modesty about their risk management capability, said Callum McCarthy, a former chairman of the Financial Services Authority (FSA).
Norway's Gjedrem: price stability tempers cycle
Monetary policy that is oriented towards stabilising inflation and price expectations will moderate the impact of bubbles and financial crises, said Svein Gjedrem, the governor of the Bank of Norway.
Canada's Murray on domestic credit markets
Strains in Canadian credit markets have been considerably less intense than those seen in the United States and elsewhere, said John Murray, a deputy governor of the Bank of Canada.