Financial crisis
External shocks tighten credit conditions – ECB bulletin
New index finds funding becomes scarce after unexpected changes in economic activity
BoE’s scenarios are best way forward, say ex-MPC members
Former UK policy-makers say forecasting approach is suited to today’s highly uncertain times
Have regulators gone soft on enforcement? (And should we care?)
US agencies are scaling back punishments for technical rule breaches, raising concerns that small but crucial risks may be ignored
Race for investment could turn AI boom into bust – BIS study
Paper warns of fragility through overcommitment and circular financing
Fed will ‘follow the law’ and ‘the data’ – Warsh
Chair tells Congress his aim is to keep US central bank out of politics
Bowman shuns CECL. Friends say it just needs a little help
How far should FASB go in reforming credit-loss accounting rules?
Some G-Sibs’ capital exceeds Basel III provisions – BIS study
Certain jurisdictions demand higher-quality capital than is required under post-GFC rules
Banque de France’s Denis Beau on supervisory reform
The Banque de France’s deputy governor speaks about suppression of the systemic risk buffer, proposals for a TLAC floor, and simplifying bank regulation and resolution
BoE paper builds ‘house price-at-risk’ framework
Quantile regression method can shed light on tail risks at regional level, author says
Asean’s expanding and evolving swap lines
The Asian trade bloc – with and without China, Japan and South Korea – wants to strengthen emergency liquidity support
More data does not mean better outcomes – EBA policy expert
EU’s previous credit risk approach created ‘crazy backlog of model validations’, official says
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
BIS warns of stability risks from ‘fiscal-financial nexus’
Report sounds alarm over public debt and NBFIs’ role in bond markets, as de Cos calls for immediate action
QE reduces bonds’ safe haven properties – BdF paper
Safety is becoming ‘increasingly fragmented’ across asset classes, researchers say
Obituary: Alan Greenspan, 1926–2026
The crisis-fighting ‘maestro’ admitted there had been a ‘flaw’ in his worldview after the events of 2008
Alan Greenspan dies at 100
Fed chair presided over lengthy period of growth, but his legacy came under fire following GFC
Sharon Donnery on the ECB’s great simplification push
The supervisory board member speaks about geopolitical risk, cyber threats and potential banking regulation reforms
Jim Bullard on Kevin Warsh’s first FOMC and Fed independence
The Federal Reserve veteran speaks with Christopher Jeffery about Iran and the US economy, the ‘good' AI bubble, cutting the Fed’s balance sheet and staff, and the need to clarify swap rules and recapitalise the regional Feds
‘Dark corners’ authors on setting policy under intense uncertainty
Douglas Laxton and Shalva Mkhatrishvili say policy-making should work to avoid the worst outcomes
Iceland could join euro even during a crisis – ECB’s Vujčić
BoE’s Mann also highlights pros and cons of country’s accession at currency conference
The next financial crisis may start outside the banks
The warning signs are multiplying and the window for preventive action is narrowing, writes Stijn Claessens